EquityPandit’s Outlook for Infosys for the week (November 23, 2015 – November 27, 2015):
INFOSYS (NSE: INFY) closed the week on negative note losing around 4.40%.
As we have mentioned last week that the support for the stock lies in the zone of 1070 to 1085 where 100 & 200 Daily SMA are positioned. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 1045 where trend-line support for the stock is positioned. During the week the stock manages to hit a low of 1011 and close the week around the levels of 1052.
Support for the stock lies in the zone of 1010 to 1030 where the stock has filled the gap which was created on 21/07/2015. If the stock closes below this levels then the stock can drift to the levels of 960 to 980 where 500 Daily SMA, 100 Weekly SMA and trend-line support for the stock is lying.
Resistance for the stock lies in the zone of 1070 to 1080 where 100 & 200 Daily SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 1120.
Broad range for the stock in the coming week is seen between 1010 to 1020 on downside to 1180 to 1190 on upside.