EquityPandit’s Outlook for Infosys for the week  (Dec 26, 2017 – Dec 29, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 1.50%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 998 and close the week around the levels of 1039.

Support for the stock lies in the zone of 1020 to 1030 from where the stock has broken out of the highs of the month of July-2017 and August-2017. If the stock manages to close below these levels the stock can drift to the levels of 990 to 1000 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1050 to 1060. If the stock manages to close above these levels then the stock can move to the levels of around 1080 to 1100.

Broad range for the stock in the coming week is seen between 1000 to 1010 on downside & 1060 to 1070 on upside.