EquiyPandit’s Outlook for Infosys for the week  (Feb 18, 2019 – Feb 22, 2019) : 

INFOSYS:

INFY closed the week on negative note losing around 2.50%.

As we have mentioned last week, that support for the stock lies in the zone of 750 to 760 from where the stock broke out of October-2018 and January-2019 high. If the stock manages to close below these levels the stock can drift to the levels of 710 to 720 where Fibonacci levels and high for the month of December-2018 are lying. During the week the stock manages to hit a low of 733 and close the week around the levels of 742.

Support for the stock lies in the zone of 710 to 720 where Fibonacci levels and high for the month of December-2018 are lying. If the stock manages to close below these levels the stock can drift to the levels of 690 to 700 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies around 750 to 760 from where the stock broke out of October-2018 and January-2019 high. If the stock manages to close above these levels then the stock can move to the levels of 770 to 780.

Broad range for the stock in the coming week is seen between 710 to 720 on downside & 760 to 770 on upside.