EquiyPandit’s Outlook for Infosys for the week  (May 14, 2018 – May 18, 2018) : 

INFOSYS:

INFY closed the week on negative note losing around 0.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1190 to 1200 where the stock made a high in the month of March-2018. If the stock manages to close above these levels then the stock can move to the levels of around 1220 to 1230 where the stock has formed a top in the month of January-2018. During the week the stock manages to hit a high of 1190 and close the week around the levels of 1181.

Minor support for the stock lies in the zone of 1160 to 1170. Support for the stock lies in the zone of 1100 to 1120 where Fibonacci levels are lying. If the stock manages to close below these levels the stock can drift to the levels of 1070 to 1080 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 1190 to 1200 where the stock made a high in the month of March-2018. If the stock manages to close above these levels then the stock can move to the levels of around 1220 to 1230 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 1130 to 1140 on downside & 1220 to 1230 on upside.