EquityPandit’s Outlook for Infosys for the week (October 05, 2015 – October 09, 2015):
INFOSYS (NSE: INFY) closed the week on positive note gaining around 3%.
As we have mentioned last week that the stock is in strong uptrend. If the stock manages to close above the levels of 1155 then the stock can move to the levels of 1180 to 1200. During the week the stock manages to hit a high of 1197.75 and close the week around the levels of 1173.
Support for the stock lies in the range of 1130 to 1140. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 1100.
The stock has hit a trend-line which was created by joining the earlier highs. So resistance for the stock can be in the range of 1190 to 1200 levels. If the stock manages to close above the levels of 1200 then the stock can move to the levels of 1230.
The stock has formed a Shooting star pattern on Daily charts in an uptrend indicating the trend reversal.
Broad range for the stock in the coming week is seen between 1120 to 1140 on downside to 1200 to 1220 on upside.