EquiyPandit’s Outlook for Infosys for the week  (Jan 21, 2019 – Jan 25, 2019) : 

INFOSYS:

INFY closed the week on positive note gaining around 7.30%.

As we have mentioned last week, that resistance for the stock lies around 690 to 700 where 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 high for the month of December-2018 and Fibonacci levels are lying. During the week the stock manages to hit a high of 740 and close the week around the levels of 731.

Support for the stock lies in the zone of 710 to 720 where Fibonacci levels and high for the month of December-2018 are lying. If the stock manages to close below these levels the stock can drift to the levels of 690 to 700 where Fibonacci levels are lying.

Resistance for the stock lies around 750 to 760 where high for the month of October-2018 are lying. If the stock manages to close above these levels then the stock can move to the levels of 780 to 790.

Broad range for the stock in the coming week is seen between 680 to 690 on downside & 750 to 760 on upside.