EquiyPandit’s Outlook for Infosys for the week  (Feb 4, 2019 – Feb 8, 2019) : 

INFOSYS:

INFY closed the week on positive note gaining around 3.70%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 716 and close the week around the levels of 757.

Support for the stock lies in the zone of 750 to 760 from where the stock broke out of October-2018 and January-2019 high. If the stock manages to close below these levels the stock can drift to the levels of 710 to 720 where Fibonacci levels and high for the month of December-2018 are lying.

Resistance for the stock lies around 780 to 790. If the stock manages to close above these levels then the stock can move to the levels of 810 to 820.

Broad range for the stock in the coming week is seen between 700 to 710 on downside & 780 to 790 on upside.