EquiyPandit’s Outlook for Infosys for the week  (Oct 15, 2018 – Oct 19, 2018) : 

INFOSYS:

INFY closed the week on negative note losing around 6.30%.

As we have mentioned last week, that minor support for the stock lies around 705 to 715. Support for the stock lies in the zone of 685 to 695 where the stock has taken multiple support and Fibonacci levels 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. During the week the stock manages to hit a low of 661 and close the week around the levels of 679.

Support for the stock lies in the zone of 670 to 680 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 630 to 640 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies around 690 to 700 from where the stock broke down from September-2018 low. If the stock manages to close above these levels then the stock can move to the levels of 745 to 755 where the stock has formed a high in the month of September-2018.

Broad range for the stock in the coming week is seen between 630 to 640 on downside & 710 to 720 on upside.