EquityPandit’s Outlook for Infosys for the week  ( Jan 22, 2018 – Jan 25, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 6.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1090 to 1100 from where the stock has broken down in the month of July-2016. If the stock manages to close above these levels then the stock can move to the levels of around 1140 to 1150. During the week the stock manages to hit a high of 1165 and close the week around the levels of 1143.

Support for the stock lies in the zone of 1115 to 1125 where Fibonacci levels are lying. If the stock manages to close below these levels the stock can drift to the levels of 1070 to 1080 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1170 to 1180. If the stock manages to close above these levels then the stock can move to the levels of around 1200 to 1210.

Broad range for the stock in the coming week is seen between 1100 to 1110 on downside & 1200 to 1210 on upside.