EquityPandit’s Outlook for Infosys for the week  (July 31, 2017 – Aug 04, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 1.80%.

As we have mentioned last week, that support 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 below these levels then the stock can drift to the levels of 940 to 945 where Fibonacci levels are lying. During the week the stock manages to hit a low of 962 and close the week around the levels of 997.

Support for the stock lies in the zone of 960 to 970 where short, medium & long term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 940 to 945 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1000 to 1010 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of around 1025 to 1030 where Fibonacci levels and declining trend-line resistance for the stock is lying.

Broad range for the stock in the coming week is seen between 970 to 980 on downside & 1025 to 1035 on upside.