EquiyPandit’s Outlook for Infosys for the week  (Oct 01, 2018 – Oct 05, 2018) : 

INFOSYS:

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

As we have mentioned last week, that minor resistance for the stock lies around 720 to 730. Resistance for the stock lies around 745 to 755 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 765 to 775. During the week the stock manages to hit a high of 736 and close the week around the levels of 730.

Minor support for the stock lies around 710 to 720. Support for the stock lies in the zone of 685 to 695 where the stock has taken multiple support and short term moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 660 to 670 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies around 745 to 755 where the stock has formed a high in the month of September-2018. If the stock manages to close above these levels then the stock can move to the levels of 765 to 775.

Broad range for the stock in the coming week is seen between 690 to 700 on downside & 750 to 760 on upside.