EquityPandit’s Outlook for Infosys for the week (December 21, 2015 – December 24, 2015):
INFOSYS (NSE: INFY) closed the week on positive note gaining around 3.10%.
As we have mentioned last week that the stock has closed around the strong resistance zone of 1070 to 1090 where 100 & 200 Daily SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 1120. During the week the stock manages to hit a high of 1110 and retraced to close the week around the levels of 1086.
Support for the stock lies in the zone of 1065 where 200 Daily SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 1040 to 1045 where trend-line support for the stock is positioned.
Resistance for the stock lies in the zone of 1100 to 1110 where 100 Daily SMA and channel resistance for the stock is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1160.
Broad range for the stock in the coming week is seen between 1040 to 1050 on downside to 1110 to 1120 on upside.