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The heroic move by the IT stocks on Friday has hardy created a dent in the medium term down trend in Infosys. The stock is persevering above the Rs 1,900 support. Fall below this support will cause the intermediate term trend to turn lower and a fall to Rs 1,650 will be on.

For the week ahead, the stock would encounter resistance at Rs 2,000 and then at Rs 2,041 and finally from the 200-day moving average at Rs 2,080. A close above Rs 2,080 should be obtained before investors should contemplate entering the stock. Close below Rs 1,900 should be a cue to short the stock.

Lokeshwarri S. K.

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