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Infosys joined in the party last week though it ran out of steam by Friday. The close above the 50-day moving average is a positive though it is too soon to pronounce that the intermediate-term down trend has reversed. The stock could not overcome the short-term resistance at Rs 1,950 either. We still believe that the stock could spend some weeks in the band between Rs 1,700 and Rs 1,950 before moving higher.

Move beyond Rs 1,950 will take Infosys to the important resistance band between Rs 2,000 and Rs 2,030, which is a medium-term trend deciding level. Supports for the week where short-term traders can buy the stock are at Rs 1,850 and then Rs 1,826.

— Lokeshwarri S. K.

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