EquityPandit’s Outlook for Infosys for the week  ( Jan 08, 2018 – Jan 12, 2018) : 

INFOSYS:

INFY closed the week on negative note losing around 2.90%.

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 1006 and close the week around the levels of 1012.

Support for the stock lies in the zone of 990 to 1000 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 960 to 970 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies in the zone of 1030 to 1040 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of around 1050 to 1060 where the stock has formed a top in the month of December-2017.

Broad range for the stock in the coming week is seen between 970 to 980 on downside & 1040 to 1050 on upside.