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Infosys Technologies moving in a sideways band between Rs 2,045 and Rs 2,125 last week. The view on this stock remains unaltered. The short-term outlook will stay negative as long as the stock stays under the resistance zone between Rs 2,170 and Rs 2,200. Inability to overcome this resistance can see the stock moving lower to Rs 1,961 and then Rs 1,940.

Rally above Rs 2,200 will take the stock to the medium-term target of Rs 2,279. A rally past Rs 2,279 is required to signal that the stock is headed towards a new high again.

Lokeshwarri S. K.

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