EquiyPandit’s Outlook for Infosys for the week  (Dec 10, 2018 – Dec 14, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 2.40%.

As we have mentioned last week, that resistance for the stock lies around 670 to 680 where Fibonacci levels and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 690 to 700 from where the stock broke down from September-2018 low and Fibonacci levels are lying. During the week the stock manages to hit a high of 688 and close the week around the levels of 683.

Support for the stock lies in the zone of 660 to 670 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 630 to 640 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies around 690 to 700 from where the stock broke down from September-2018 low and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 710 to 720 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 650 to 660 on downside & 710 to 720 on upside.