EquityPandit’s Outlook for Infosys for the week (June 20, 2016 – June 24, 2016):

INFOSYS:

INFY closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 1200 to 1210 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1225 to 1235 where the stock has opened gap down on 09-06-2016. During the week the stock manages to hit a high of 1193 and close the week around the levels of 1180.

Minor support for the stock lies in the zone of 1165. Support for the stock lies in the zone of 1135 to 1140 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1050 to 1060 where 500 Daily SMA is lying.

Resistance for the stock lies in the zone of 1200 to 1210 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1225 to 1235 where the stock has opened gap down on 09-06-2016.

Broad range for the stock in the coming week is seen between 1150 to 1160 on downside to 1210 to 1220 on upside.