EquityPandit’s Outlook for Infosys for the week  (May 29, 2017 – June 02, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 3.90%.

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 1000 and close the week around the levels of 996.

Support 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 below these levels then the stock can drift to the levels of 945 to 950 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 990 to 1000 where Fibonacci level and 200 Daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of around 1015 to 1020 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 970 to 980 on downside & 1025 to 1030 on upside.