EquityPandit’s Outlook for Infosys for the week  (Feb 12, 2018 – Feb 16, 2018) : 

INFOSYS:

INFY closed the week on negative note losing around 3.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1160 to 1170 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 1200 to 1220 where the stock has formed a top in the month of January-2018. During the week the stock manages to hit a high of 1155 and close the week around the levels of 1109.

Minor support for the stock lies in the zone of 1095 to 1100. Support for the stock lies in the zone of 1070 to 1080 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 1020 to 1030 where Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 1125 to 1130. Resistance for the stock lies in the zone of 1160 to 1170 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 1200 to 1220 where the stock has formed a top in the month of January-2018.

Broad range for the stock in the coming week is seen between 1060 to 1070 on downside & 1140 to 1150 on upside.