EquiyPandit’s Outlook for Infosys for the week  (May 28, 2018 – June 01, 2018) : 

INFOSYS:

INFY closed the week on positive note gaining around 3.80%.

As we have mentioned last week, that minor support for the stock lies in the zone of 1160 to 1170. Support for the stock lies in the zone of 1100 to 1120 where Fibonacci levels 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 and medium term moving averages are lying. During the week the stock manages to hit a low of 1170 and close the week around the levels of 1228.

Support for the stock lies in the zone of 1200 to 1210 from where the stock broke out of March-2018 and April-2018 high. If the stock manages to close below these levels the stock can drift to the levels of 1160 to 1170 where short and medium term moving averages are lying.

Resistance for the stock lies in the zone of 1230 to 1250. If the stock manages to close above these levels then the stock can move to the levels of around 1270 to 1280 where the stock has formed a top in the month of June-2016.

Broad range for the stock in the coming week is seen between 1160 to 1170 on downside & 1270 to 1280 on upside.