EquityPandit’s Outlook for Infosys for the week  (Dec 04, 2017 – Dec 08, 2017) :

INFOSYS:

INFY closed the week on negative note losing around 5.00%.

As we have mentioned last week, that support for the stock lies in the zone of 970 to 980 where Fibonacci level is lying. If the stock manages to close below these levels the stock can drift to the levels of 955 to 960 where 200 daily moving averages are lying. During the week the stock manages to hit a low of 957 and close the week around the levels of 958.

Support for the stock lies in the zone of 952 to 958 where 200 daily moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 930 to 940 where Fibonacci levels and short & medium term moving averages are lying.

Resistance for the stock lies in the zone of 970 to 980 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of around 1020 to 1030 from where the stock has retraced in the month of July-2017 and August-2017.

Broad range for the stock in the coming week is seen between 920 to 930 on downside & 980 to 990 on upside.