EquiyPandit’s Outlook for Infosys for the week  (Nov 26, 2018 – Nov 30, 2018) : 

INFOSYS:

INFY closed the week on negative note losing around 4.60%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 660 to 665. Resistance for the stock lies around 680 to 690 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 710 to 720. During the week the stock manages to hit a high of 662 and close the week around the levels of 621.

Support for the stock lies in the zone of 600 to 610 from where the stock broke out of January-2018 and April-2018 high. If the stock manages to close below these levels the stock can drift to the levels of 580 to 590 where Fibonacci levels are lying.

Resistance for the stock lies around 630 to 640 where Fibonacci levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 650 to 660 from where the stock broke down after consolidation and Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 580 to 590 on downside & 650 to 660 on upside.