EquityPandit’s Outlook for Infosys for the week  (May 22, 2017 – May 26, 2017) :

INFOSYS:

INFY closed the week on negative note losing around 0.60%.

As we have mentioned last week that resistance for the stock lies in the zone of 970 to 980 where Fibonacci level and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of around 990 to 1000 where Fibonacci level and 200 Daily moving averages are lying. During the week the stock manages to hit a high of 974 and close the week around the levels of 958.

Support for the stock lies in the zone of 945 to 952 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 930 to 935 where break out levels is lying.

Resistance for the stock lies in the zone of 970 to 980 where Fibonacci level and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of around 990 to 1000 where Fibonacci level and 200 Daily moving averages are lying.

Broad range for the stock in the coming week is seen between 920 to 930 on downside & 980 to 990 on upside.