EquityPandit’s Outlook for Infosys for week (July 06, 2015 – July 10, 2015):

INFOSYS

Infosys (NSE: INFY) closed the week on absolutely flat note.

The stock has formed a doji pattern on the weekly chart suggesting the indecision among the traders about the direction of the stock.

This week the stock is facing stiff resistance around the levels of 1000 to 1010.

As seen from the chart the stock is facing stiff resistance in the range of 1010 to 1025 where trend-line and 200 Daily SMA is lying.

Support for the stock is seen in the range of 975 levels where upward sloping trend-line is positioned.

A break below the levels of 985 the stock can drift to the levels of 970 and 950 where long term trend-line support for the stock is positioned.

Broad range for the stock in the coming week is seen between 950 to 970 on downside to 1020 to 1040 on upside.