EquityPandit’s Outlook for Infosys for the week (March 06, 2017 – March 10, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 2.20%.

As we have mentioned last week that minor support for the stock lies in the zone of 980 to 990. Support for the stock lies in the zone of 970 to 980 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 945 to 955 from where the stock broke out after consolidation. During the week the stock manages to hit a low of 1000 and close the week around the levels of 1031.

Minor support for the stock lies in the zone of 1000 to 1010. Support for the stock lies in the zone of 970 to 980 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 945 to 955 from where the stock broke out after consolidation.

Resistance for the stock lies in the zone of 1040 to 1050 where highs for the month of January-2017 and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 1080 to 1090 where the stock has faced multiple resistance in the month of August-2016 and October-2016.

Broad range for the stock in the coming week is seen between 1000 to 1010 on downside & 1050 to 1060 on upside.