EquityPandit’s Outlook for Infosys for the week  (May 15, 2017 – May 19, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 3.50%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 966 and close the week around the levels of 964.

Support for the stock lies in the zone of 945 to 952 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 930 to 935 where break out levels is lying.

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 930 to 940 on downside & 990 to 1000 on upside.