EquiyPandit’s Outlook for Infosys for the week  (Mar 12, 2018 – Mar 16, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 0.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1165 to 1175 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of around 1200 to 1220 where the stock has formed a top in the month of January-2018. During the week the stock manages to hit a high of 1171 and close the week around the levels of 1163.

Minor support for the stock lies in the zone of 1130 to 1140. Support for the stock lies in the zone of 1100 to 1120 where Fibonacci levels and short term moving averages 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 1165 to 1175 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of around 1200 to 1220 where the stock has formed a top in the month of January-2018.

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