EquityPandit’s Outlook for Infosys for the week  (Dec 11, 2017 – Dec 15, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 4.50%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 1007 and close the week around the levels of 1002.

Support for the stock lies in the zone of 985 to 990 where Fibonacci levels are lying. If the stock manages to close below these levels the stock can drift to the levels of 960 to 970 where long term moving averages and Fibonacci level is lying.

Resistance for the stock lies in the zone of 1020 to 1030 from where the stock has retraced in the month of July-2017 and August-2017. If the stock manages to close above these levels then the stock can move to the levels of around 1050 to 1060.

Broad range for the stock in the coming week is seen between 950 to 960 on downside & 1030 to 1040 on upside.