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The stock could not rally past Rs 2,250. As indicated last week, this has made the short-term outlook negative for this stock. The momentum oscillators in the daily and weekly charts corroborate this view. Infosys can now launch into the third leg down from the peak at Rs 2,324.9. This leg has the targets of Rs 2,116 and then Rs 2,031.

Rally above Rs 2,250 will make our short-term view neutral again. Short-term traders can go short on this counter with a stop at Rs 2,255. Investors can hold with a stop at Rs 2,100.

Lokeshwarri S. K.

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