Signals, Powered By EquityPandit
INFY Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 500209| NSE: INFY| ISIN: INE009A01021| SECTOR: I.T.
Infosys closed the Weekly on positive note gaining +0.28%
Infosys Share Price: 953.60 (NSE)
Weekly High: 968.50
Weekly Low: 942.20
Weekly Range: 26.30 Points
Weekly Support & Resistance For INFY:
| 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 Weekly as 1020 on upside and 840 on downside.
On the daily chart stock formed Doji pattern around resistance, indicator side RSI and Momentum also shows some weakness in stock. Stock holds support around 890 levels but weakness is ahead. Once stock closes below 890 Levels on the weekly basis chance of filling the Gap is high and stock can head towards 850 levels.
