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Infosys took a decisive step lower last week though the weekly loss was just two per cent. The 10-week ROC oscillator failing to move above the zero line implies that there could be further fall in the medium term. The tentative recovery recorded towards the second half of the week also corroborates this view. The stock will face resistance at Rs 1,850 and then at Rs 1,910 next week.

Reversal from either of these levels would provide an opportunity to traders to short this stock. The medium term targets down stay at Rs 1,700 and then Rs 1,521. Long term investors can watch out for buying opportunity if the stock stabilises around Rs 1,700.

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