EquiyPandit’s Outlook for Infosys for the week  (Dec 24, 2018 – Dec 28, 2018) : 

INFOSYS:

INFY closed the week on negative note losing around 8.50%.

As we have mentioned last week, that resistance for the stock lies around 710 to 720 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 730 to 735. During the week the stock manages to hit a high of 712 and close the week around the levels of 646.

Support for the stock lies in the zone of 630 to 640 where Fibonacci levels are lying. If the stock manages to close below these levels the stock can drift to the levels of 600 to 610 where low for the month of November-2018 is lying.

Resistance for the stock lies around 660 to 670 where Fibonacci levels and short & medium 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 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 600 to 610 on downside & 680 to 690 on upside.