EquiyPandit’s Outlook for Infosys for the week  (Dec 17, 2018 – Dec 21, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 3.30%.

As we have mentioned last week, that support for the stock lies in the zone of 660 to 670 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 630 to 640 where Fibonacci levels and long term moving averages are lying. During the week the stock manages to hit a low of 661 and close the week around the levels of 706.

Support for the stock lies in the zone of 690 to 700 where Fibonacci levels are lying. If the stock manages to close below these levels the stock can drift to the levels of 660 to 670 where Fibonacci levels and short term moving averages are lying.

Resistance for the stock lies around 710 to 720 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 730 to 735.

Broad range for the stock in the coming week is seen between 660 to 670 on downside & 730 to 740 on upside.