EquityPandit’s Outlook for Infosys for the week  (July 17, 2017 – July 21, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 4.00%.

As we have mentioned last week, that support for the stock lies in the zone of 920 to 925. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where the stock has taken support in the month of November-2016, January-2017 and April-2017. During the week the stock manages to hit a low of 937 and close the week around the levels of 972.

Minor support for the stock lies in the zone of 955 to 960. Support for the stock lies in the zone of 940 to 945 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 920 to 930 where trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 970 to 975 where Fibonacci level and medium & long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of around 995 to 1005 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 930 to 940 on downside & 990 to 1000 on upside.