EquityPandit’s Outlook for Infosys for the week  (Oct 16, 2017 – Oct 19, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 1.10%.

As we have mentioned last week, that resistance for the stock lies in the zone of 920 to 930 from where the stock has broken down from the trend-line support. If the stock manages to close above these levels then the stock can move to the levels of around 940 to 945 where Fibonacci levels are lying. During the week the stock manages to hit a high of 940 and close the week around the levels of 930.

Support for the stock lies in the zone of 920 to 930 where short term moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 900 to 910 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 940 to 945 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of around 955 to 960 where 200 daily moving averages are lying.

Broad range for the stock in the coming week is seen between 900 to 910 on downside & 950 to 960 on upside.