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After successfully defending the Rs 1,900 bastion since March, Infosys at last yielded some ground.

Though the stock touched a low of Rs 1,745 on Friday, it rebounded to close with a mild 5 per cent loss for the week.

The downward pressure is increasing on the stock and the stock could move lower to Rs 1,700 and then Rs 1,521 over the medium term. The running correction witnessed since March is not a good sign.

The resistance next week would be at Rs 1,900 and then at Rs 1,950. A close above the second resistance is required to mitigate the bearish outlook for the short term.

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