EquiyPandit’s Outlook for Infosys for the week (April 22,2019 – April 26,2019):
BSE: 500209| NSE: INFY| ISIN: INE009A01021| SECTOR: I.T.
Stock closed the week on negative note losing -5.01%
Week High: 754.15
Week Low: 716.40
Week Range: 37.75 Points
Backed by poor financial results last week we have seen huge profit booking in the IT major counter, Technically on the daily charts EquitPandit’s analyst see minor support on the downside for INFY at 700- 702 levels, whereas minor resistance on the upside is capped around 735- 740 levels.
If INFY breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 685- 680 if INFY breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 755-760
Currently trend for the Stock is bullish as stock trading above 200 days exponential moving averages.
EquityPandit predicts INFY range for the week is seen from 755-760 on upside & 685- 680 on downside.