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Infosys was one of the worst affected in last week's sell-off. The stock moved down to our first target of Rs 1,961.

It has halted just above its 200-day moving average. Ten week ROC has moved in to negative and the 14-week RSI is at 44.

Both these readings point to a medium-term down move in the offing. A close below Rs 1,960 will drag the stock towards the medium-term target of Rs 1,711.

Any upward moves will face resistance from Rs 2,143 and then Rs 2,188. Hold your longs with a stop at Rs 1,950.

Lokeshwarri S. K.

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