EquityPandit’s Outlook for Infosys for the week (October 26, 2015 – October 30, 2015):

INFOSYS:

INFOSYS  (NSE: INFY) closed the week on positive note gaining around 5.0%.

As we have mentioned last week that the resistance for the stock lies in the zone of 1130 to 1135 from where the stock has broken down. 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 1153 and close the week around the levels of 1150.

Support for the stock lies in the zone of 1100 to 1120 from where the stock has broken out of consolidation and short term moving averages are positioned. If the stock breaks below this levels on closing basis then the stock can move to the levels of 1060 to 1070 where 100 & 200 Daily SMA are positioned.

Resistance for the stock lies in the zone of 1160 to 1170. If the stock closes above this levels then the stock can move to the levels of 1200 where trend-line joining highs are positioned.

Broad range for the stock in the coming week is seen between 1110 to 1120 on downside to 1170 to 1180 on upside.