EquityPandit’s Outlook for Infosys for the week (January 11, 2016 – January 15, 2016):
INFY closed the week on negative note losing around 3.70%.
As we have mentioned last week that 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. During the week the stock manages to hit a high of 1102 and sold off to close the week around the levels of 1064.
Support for the stock lies in the zone of 1040 where channel support for the stock is lying. If the stock closes below this levels then the stock can drift to the levels of 970 where medium term trend-line support for the stock is lying.
Resistance for the stock lies in the zone of 1070 levels where 200 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1100 where 100 Daily SMA is lying.
The company is announcing the quarterly results during the next week. So high volatility in the stock can be witnessed.
Broad range for the stock in the coming week is seen between 1030 to 1040 on downside to 1080 to 1100 on upside.