Signals, Powered By EquityPandit
INFY Weekly Outlook and Analysis:
For the Week: (Aug 10,2020 – Aug 14,2020)
BSE: 500209| NSE: INFY| ISIN: INE009A01021| SECTOR: I.T.
Stock closed the week on negative note losing -1.56%
Infosys Share Price: 950.90 (NSE)
Week High: 974.40
Week Low: 938.30
Week Range: 36.10 Points
Weekly Support & Resistance For Infosys Limited:
| RESISTANCE 2 | 1017 |
| RESISTANCE 1 | 990 |
| SUPPORT 1 | 890 |
| SUPPORT 2 | 849 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 890 levels, Minor resistance on the upside is capped around 990 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 849 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 1017.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts Range for the week as 1020 on upside and 840 on downside.
On the daily chart of Infy is forming a Doji pattern around resistance levels and struggling around resistance level but stock still in uptrend and has good support on the lower levels from where we have seen buying on every correction. If stock gain with some good volumes and break the resistance then stock can reach 1020 level or above.
