EquityPandit’s Outlook for Infosys for the week  (Aug 07, 2017 – Aug 11, 2017) :

INFOSYS:

INFY closed the week on negative note losing around 1.40%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1000 to 1010 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of around 1025 to 1030 where Fibonacci levels and declining trend-line resistance for the stock is lying. During the week the stock manages to hit a high of 1022 and close the week around the levels of 984.

Support for the stock lies in the zone of 960 to 970 where short, medium & long term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 940 to 945 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1010 to 1020 where Fibonacci levels and declining trend-line resistance for the stock are lying. If the stock manages to close above these levels then the stock can move to the levels of around 1040 to 1045 where the stock has formed a top in the month of March-2017.

Broad range for the stock in the coming week is seen between 950 to 960 on downside & 1015 to 1025 on upside.