EquityPandit’s Outlook for Infosys for the week (January 04, 2016 – January 08, 2016):

INFOSYS:

INFOSYS  (NSE: INFY) closed the week on positive note gaining around 1.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 1100 to 1110 where 100 Daily SMA and channel resistance for the stock is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1160. During the week the stock manages to hit a high of 1110 and close the week around the levels of 1105.

Support for the stock lies in the zone of 1080 where short term moving averages are lying. If the stock closes below this levels then the stock can drift to the levels of 1060 where 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 1110 to 1120 where 100 Daily SMA and channel resistance for the stock is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1160.

Broad range for the stock in the coming week is seen between 1070 to 1080 on downside to 1120 to 1130 on upside.