EquityPandit’s Outlook for Infosys for the week (February 13, 2017 – February 17, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 3.40%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 944 to 946. Resistance for the stock lies in the zone of 965 to 970 from where the stock broke down from consolidation zone and Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 990 to 1000 where medium term moving averages and Fibonacci level is lying. During the week the stock manages to hit a high of 972 and close the week around the levels of 968.

Minor support for the stock lies in the zone of 950 to 955. Support for the stock lies in the zone of 935 to 940 from where the stock has broken out of the consolidation zone. If the stock manages to close below these levels then the stock can drift to the levels of 920 to 930. The stock has taken multiple support around the levels of 900 to 910.

Resistance for the stock lies in the zone of 965 to 970 from where the stock broke down from consolidation zone and Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 990 to 1000 where medium term moving averages and Fibonacci level is lying.

Broad range for the stock in the coming week is seen between 940 to 945 on downside & 1000 to 1020 on upside.