EquityPandit’s Outlook for Infosys for the week  (Oct 09, 2017 – Oct 13, 2017) :

INFOSYS:

INFY closed the week on positive note gaining around 2.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 920 to 930 from where the stock has broken down from the trend-line support. If the stock manages to close above these levels then the stock can move to the levels of around 940 to 945 where Fibonacci levels are lying. During the week the stock manages to hit a high of 922 and close the week around the levels of 920.

Minor support for the stock lies in the zone of 890 to 900. Support for the stock lies in the zone of 855 to 860 where the stock has form a bottom in the month of August-2017. If the stock manages to close below these levels then the stock can witness a major break down and the stock can drift to the levels of 820 to 830 where long term trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 920 to 930 from where the stock has broken down from the trend-line support. If the stock manages to close above these levels then the stock can move to the levels of around 940 to 945 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 880 to 890 on downside & 940 to 950 on upside.