Infosys Outlook for the Week (Oct 12,2020 – Oct 16,2020)


For the Week: (Oct 12,2020 – Oct 16,2020)

2 INFY

BSE: 500209| NSE: INFY| ISIN: INE009A01021| SECTOR: I.T.

Infosys closed the Weekly on positive note gaining +8.76%

Infosys Share Price: 1106.80 (NSE)

Weekly High: 1124.00

Weekly Low: 1018.05

Weekly Range: 105.95 Points

Weekly Support & Resistance For INFY:

RESISTANCE 2 1165
RESISTANCE 1 1140
SUPPORT 1 1075
SUPPORT 2 1048

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1075 levels, Minor resistance on the upside is capped around 1140 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 1048 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 1165.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the Weekly as 1170 on upside and 1040 on downside.

On the daily chart of Infosys, stock come after high and facing struggle on resistance level, the gap on daily chart give support and on the indicator side RSI and Momentum also shows some weakness in stock. Stock hold a support line but weakness is ahead.