EquiyPandit’s Outlook for Infosys for the week  (July 30, 2018 – Aug 03, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 1.80%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1340 to 1350. If the stock manages to close above these levels then the stock can move to the levels of around 1380 to 1400 where long term trend-line resistance for the stock is lying. During the week the stock manages to hit a high of 1394 and close the week around the levels of 1373.

Minor support for the stock lies around 1340 to 1350. Support for the stock lies in the zone of 1270 to 1280 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 1240 to 1250 from where the stock broke out of May-2018 high.

Resistance for the stock lies in the zone of 1380 to 1400 where long term trend-line resistance for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of around 1430 to 1450.

Broad range for the stock in the coming week is seen between 1320 to 1340 on downside & 1400 to 1420 on upside.