EquityPandit’s Outlook for Infosys for the week (October 24, 2016 – October 28, 2016) :

INFOSYS:

INFY closed the week on positive note gaining around 1.10%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 1050 to 1060 where short term moving averages are lying. Resistance for the stock lies in the zone of 1085 to 1095. If the stock manages to close above these levels then the stock can move to the levels of 1140 to 1150 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 1051 and close the week around the levels of 1038.

Support for the stock lies in the zone of 1000 to 1010 where the stock has made a bottom in the month of Nov – 2015 and August – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 930 to 950 from where the stock has bounced in the month of July – 2015.

Minor resistance for the stock lies in the zone of 1050 to 1060 where short term moving averages are lying. Resistance for the stock lies in the zone of 1085 to 1095. If the stock manages to close above these levels then the stock can move to the levels of 1140 to 1150 where 200 Daily SMA is lying.

Broad range for the stock in the coming week is seen between 1000 to 1010 on downside to 1055 to 1060 on upside.