EquityPandit’s Outlook for Infosys for the week  (Dec 18, 2017 – Dec 22, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 2.10%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 1026 and close the week around the levels of 1023.

Support for the stock lies in the zone of 990 to 1000 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 980 to 990 on downside & 1050 to 1060 on upside.