EquityPandit’s Outlook for Infosys for the week  ( Jan 01, 2018 – Jan 05, 2018) : 

INFOSYS:

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

As we have mentioned last week, that support for the stock lies in the zone of 1020 to 1030 from where the stock has broken out of the highs of the month of July-2017 and August-2017. If the stock manages to close below these levels the stock can drift to the levels of 990 to 1000 where Fibonacci levels are lying. During the week the stock manages to hit a low of 1024 and close the week around the levels of 1042.

Support for the stock lies in the zone of 1020 to 1030 from where the stock has broken out of the highs of the month of July-2017 and August-2017. If the stock manages to close below these levels the stock can drift to the levels of 990 to 1000 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1050 to 1060. If the stock manages to close above these levels then the stock can move to the levels of around 1080 to 1100.

Broad range for the stock in the coming week is seen between 1010 to 1020 on downside & 1070 to 1080 on upside.