EquityPandit’s Outlook for Infosys for the week  (June 12, 2017 – June 16, 2017) :

INFOSYS:

INFY closed the week on negative note losing around 2.10%.

As we have mentioned last week that resistance for the stock lies in the zone of 990 to 1000 where Fibonacci level and 200 Daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of around 1015 to 1020 where Fibonacci levels are lying. During the week the stock manages to hit a high of 989 and close the week around the levels of 949.

Support for the stock lies in the zone of 935 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 900 to 910 where the stock has taken support in the month of November-2016, January-2017 and April-2017.

Resistance for the stock lies in the zone of 970 to 980 where Fibonacci level and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of around 990 to 1000 where Fibonacci level and 200 Daily moving averages are lying.

Broad range for the stock in the coming week is seen between 900 to 910 on downside & 1000 to 1010 on upside.