EquityPandit’s Outlook for Infosys for the week  (June 27, 2017 – June 30, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 0.30%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 950 to 955. Resistance for the stock lies in the zone of 970 to 980 where Fibonacci level and 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 969 and close the week around the levels of 943.

Support for the stock lies in the zone of 935 to 945 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where the stock has taken support in the month of November-2016, January-2017 and April-2017.

Minor resistance for the stock lies in the zone of 950 to 955. Resistance for the stock lies in the zone of 970 to 975 where Fibonacci level and 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 900 to 910 on downside & 970 to 980 on upside.