EquityPandit’s Outlook for Infosys for the week  (Nov 27, 2017 – Dec 01, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 4.00%.

As we have mentioned last week, that support for the stock lies in the zone of 955 to 960 where 200 daily moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 943 to 948 where Fibonacci levels are lying. During the week the stock manages to hit a low of 957 and close the week around the levels of 1010.

Support for the stock lies in the zone of 970 to 980 where Fibonacci level is lying. If the stock manages to close below these levels the stock can drift to the levels of 955 to 960 where 200 daily moving averages are lying.

Resistance for the stock lies in the zone of 1020 to 1030 from where the stock has retraced in the month of July-2017 and August-2017. If the stock manages to close above these levels then the stock can move to the levels of around 1050 to 1060 where Fibonacci level is lying.

Broad range for the stock in the coming week is seen between 960 to 970 on downside & 1040 to 1050 on upside.