EquityPandit’s Outlook for Infosys for week (July 20, 2015 – July 24, 2015):

INFOSYS:

Infosys (NSE: INFY) closed the week on positive note gaining around 7%.

As we have mentioned last week that the stock has broken down from the Head & Shoulder pattern and the targets for the same can be in the range of 750 to 800. On 14/07/2015 stock managed to close above the levels of 940 i.e. Neckline of Head & Shoulder pattern.

During the week stock also managed to close above the levels of 980 where upward sloping trend-line is positioned.

As seen from the chart if the stock manages to close above the levels of 1010 the stock can move to the levels of 1030 to 1040.

1000 to 1010 is the stiff resistance zone for the stock as 100 Daily EMA and 200 Daily EMA are positioned around this levels.

Support for the stock lies in the zone of 950 to 960 where short term moving averages and trend-line support are positioned.

Broad range for the stock in the coming week is seen between 950 to 960 on downside to 1030 to 1040 on upside.