EquityPandit’s Outlook for Infosys for the week  (Nov 13, 2017 – Nov 17, 2017) :

INFOSYS:

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

As we have mentioned last week, that resistance for the stock lies in the zone of 943 to 948 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of around 955 to 960 where 200 daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 975 to 980. During the week the stock manages to hit a high of 964 and close the week around the levels of 962.

Support for the stock lies in the zone of 955 to 960 where 200 daily moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 943 to 948 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 970 to 980 where Fibonacci levels and break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of around 992 to 1000 where Fibonacci levels and long term trend-line resistance is lying.

Broad range for the stock in the coming week is seen between 930 to 940 on downside & 990 to 1000 on upside.