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Lokeshwarri S.K.

Infosys went nowhere last week, remaining wedged in the zone between Rs 1,910 and Rs 1,970. The sequence of lower peaks and troughs since mid-April is ominous. This could be a running correction of the fall from Rs 2,439. A running correction precedes a strong move in the direction of the trend, which in this case is down. But wait for a close below Rs 1,900 before initiating fresh short positions. Medium term target on the lower side stays at Rs 1,650. A close above Rs 2,140 will make the medium term outlook neutral again.

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