EquityPandit’s Outlook for Infosys for the week  (Oct 30, 2017 – Nov 03, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 2.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 958 and close the week around the levels of 946.

Minor support for the stock lies in the zone of 925 to 930. Support for the stock lies in the zone of 915 to 920 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 943 to 948 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. If the stock manages to close above these levels then the stock can move to the levels of 975 to 980.

Broad range for the stock in the coming week is seen between 910 to 920 on downside & 970 to 980 on upside.