EquiyPandit’s Outlook for Infosys for the week  (Dec 03, 2018 – Dec 07, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 7.40%.

As we have mentioned last week, that support for the stock lies in the zone of 600 to 610 from where the stock broke out of January-2018 and April-2018 high. If the stock manages to close below these levels the stock can drift to the levels of 580 to 590 where Fibonacci levels are lying. During the week the stock manages to hit a low of 600 and close the week around the levels of 667.

Support for the stock lies in the zone of 630 to 640 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 600 to 610 from where the stock broke out of January-2018 and April-2018 high.

Resistance for the stock lies around 670 to 680 where Fibonacci levels and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 690 to 700 from where the stock broke down from September-2018 low and Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 620 to 630 on downside & 690 to 700 on upside.