EquityPandit’s Outlook for Infosys for the week (January 30, 2017 – February 03, 2017) :

INFOSYS:

INFY closed the week on negative note losing around 0.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 960 to 970 where short term moving averages and Fibonacci levels are 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 958 and close the week around the levels of 942.

Support for the stock lies in the zone of 935 to 940 from where the stock has broken out of the consolidation zone and where Fibonacci level are lying. If the stock manages to close below these levels then the stock can drift to the levels of 920 to 930.

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.

Broad range for the stock in the coming week is seen between 910 to 920 on downside to 970 to 980 on upside.