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Thin volumes marked the Infosys counter last week.

The stock is struggling to rally above the 50-day moving average positioned at Rs 1,920.

The presence of short-term resistance in the band between Rs 1,920 and Rs 1,940 makes it advisable to wait for a close above Rs 1,940 before initiating fresh longs. Move beyond Rs 1,940 can take the stock to Rs 2,050.

However, the lack of momentum and thin volumes suggest that the stock can drift lower towards Rs 1,816 in the short-term. Our medium-term outlook stays negative as long as the stock stays below Rs 2,100.

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