EquityPandit’s Outlook for Infosys for the week (February 08, 2016 – February 12, 2016):
INFY closed the week on positive note gaining around 1.00%.
As we have mentioned last week that the stock has closed just above the resistance zone of 1160. Resistance for the stock lies in the zone of 1200 where trend-line joining earlier highs is lying. During the week the stock manages to hit a high of 1195 and close the week around the levels of 1177.
Support for the stock lies in the zone of 1140 to 1150 where upper end of the channel support for the stock is positioned. If the stock closes below this levels then the stock can drift to the levels of 1100 where 100 Daily SMA is lying.
Resistance for the stock lies in the zone of 1200 where trend-line joining earlier highs is lying. If the stock manages to close above this levels then the stock can move to the levels of 1220 where lies the life time high for the stock.
Broad range for the stock in the coming week is seen between 1140 to 1150 on downside to 1200 to 1220 on upside.