EquityPandit’s Outlook for Infosys for the week  (May 08, 2017 – May 12, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 1.40%.

As we have mentioned last week that support for the stock lies in the zone of 900 to 910 where the stock has taken support in the month of November-2016 and January-2017. If the stock manages to close below these levels then the stock can drift to the levels of around 850 to 870. During the week the stock manages to hit a low of 915 and close the week around the levels of 931.

Minor support for the stock lies in the zone of 915 to 920. Support for the stock lies in the zone of 900 to 910 where the stock has taken support in the month of November-2016 and January-2017. If the stock manages to close below these levels then the stock can drift to the levels of around 850 to 870.

Resistance for the stock lies in the zone of 945 to 950 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of around 970 to 980 where Fibonacci level is lying.

Broad range for the stock in the coming week is seen between 900 to 910 on downside & 950 to 960 on upside.