EquiyPandit’s Outlook for Infosys for the week  (Oct 29, 2018 – Nov 02, 2018) : 

INFOSYS:

INFY closed the week on negative note losing around 7.30%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 630 and close the week around the levels of 634.

Support for the stock lies in the zone of 630 to 640 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels the stock can drift to the levels of 600 to 610 from where the stock broke out of January-2018 and April-2018 high.

Minor resistance for the stock lies around 650 to 660. Resistance for the stock lies around 670 to 680 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 where short term moving averages are lying..

Broad range for the stock in the coming week is seen between 600 to 610 on downside & 660 to 670 on upside.