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Though the stock spent the week on tenterhooks, Friday's rally made the stock close with a gain of 5 per cent. The hammer formation in the weekly chart last week now seems to be a part of a morning star.

The short-term resistance for the stock exists at Rs 2,151 and then at Rs 2,237.

Friday's move in Infosys is not a conclusive breakout. A reversal from Rs 2,150 will make the stock head southwards again. Tread cautiously till the stock moves firmly above Rs 2,150. Hold your long positions with a tight stop at Rs 1,970.

Lokeshwarri S. K.

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