EquityPandit’s Outlook for Infosys for the week (February 01, 2016 – February 05, 2016):

INFOSYS:

INFY closed the week on positive note gaining around 2.50%.

As we have mentioned last week that support for the stock lies in the zone of 1120 to 1125 where channel support for the stock is positioned. If the stock closes below this levels then the stock can drift to the levels of 1080 to 1100 where 100 Daily SMA is lying. During the week the stock manages to hit a low of 1125 and bounce to close the week around the levels of 1165.

Support for the stock lies in the zone of 1120 to 1125 where channel support for the stock is positioned. If the stock closes below this levels then the stock can drift to the levels of 1080 to 1100 where 100 Daily SMA is lying.

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.

Broad range for the stock in the coming week is seen between 1120 to 1130 on downside to 1190 to 1200 on upside.