EquiyPandit’s Outlook for Infosys for the week  (Apr 16, 2018 – Apr 20, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining round 3.90%.

As we have mentioned last week, that support for the stock lies in the zone of 1100 to 1120 where Fibonacci levels are lying. If the stock manages to close below these levels the stock can drift to the levels of 1070 to 1080 where Fibonacci levels and medium term moving averages are lying. During the week the stock manages to hit a low of 1105 and close the week around the levels of 1171.

Minor support for the stock lies in the zone of 1130 to 1140. Support for the stock lies in the zone of 1100 to 1120 where Fibonacci levels are lying. If the stock manages to close below these levels the stock can drift to the levels of 1070 to 1080 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 1170 to 1180 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of around 1200 to 1220 where the stock has formed a top in the month of January-2018.

Broad range for the stock in the coming week is seen between 1080 to 1090 on downside & 1200 to 1220 on upside.