EquiyPandit’s Outlook for Infosys for the week  (Nov 12, 2018 – Nov 16, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 4.50%.

As we have mentioned last week, that resistance for the stock lies around 680 to 690 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 710 to 720 where short term moving averages are lying. During the week the stock manages to hit a high of 679 and close the week around the levels of 660.

Support for the stock lies in the zone of 630 to 640 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 600 to 610 from where the stock broke out of January-2018 and April-2018 high.

Resistance for the stock lies around 680 to 690 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 710 to 720 where short term moving averages are lying.

Broad range for the stock in the coming week is seen between 620 to 630 on downside & 690 to 700 on upside.