EquityPandit’s Outlook for Infosys for the week  (Feb 19, 2018 – Feb 23, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 1.70%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 1090 and close the week around the levels of 1128.

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 1130 to 1140. 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 1070 to 1080 on downside & 1150 to 1160 on upside.