EquiyPandit’s Outlook for Infosys for the week (Sep 10, 2018 – Sep 14, 2018) :
INFY closed the week on positive note gaining around 1.70%.
As we have mentioned last week, that resistance for the stock lies around 1450 to 1460 where the stock has formed a top in the month of August-2018. If the stock manages to close above these levels then the stock can move to the levels of 1480 to 1500. During the week the stock manages to hit a high of 1500 (pre bonus price) and close the week around the levels of 733.
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 short term top. 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 & 760 to 770 on upside.