EquityPandit’s Outlook for Infosys for the week ( Jan 15, 2018 – Jan 19, 2018) :
INFY closed the week on positive note gaining around 6.50%.
As we have mentioned last week, that resistance for the stock lies in the zone of 1030 to 1040 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of around 1050 to 1060 where the stock has formed a top in the month of December-2017. During the week the stock manages to hit a high of 1086 and close the week around the levels of 1078.
Support for the stock lies in the zone of 1040 to 1050 from where the stock broke out of December-2017 highs. If the stock manages to close below these levels the stock can drift to the levels of 990 to 1000 where Fibonacci levels and short term moving averages are lying.
Resistance for the stock lies in the zone of 1090 to 1100 from where the stock has broken down in the month of July-2016. If the stock manages to close above these levels then the stock can move to the levels of around 1140 to 1150.
Broad range for the stock in the coming week is seen between 1000 to 1010 on downside & 1140 to 1150 on upside.