EquiyPandit’s Outlook for Infosys for the week  (Nov 19, 2018 – Nov 23, 2018) : 

INFOSYS:

INFY closed the week on negative note losing around 1.30%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 640 and close the week around the levels of 651.

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.

Minor resistance for the stock lies in the zone of 660 to 665. 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.

Broad range for the stock in the coming week is seen between 610 to 620 on downside & 680 to 690 on upside.