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Pre-earnings euphoria made Infosys rise to an intra week high of Rs 2,140 but the sharp plunge over the last two sessions corroborates our view that the stock will move in the band between Rs 1,700 and Rs 2,100 over the medium term. Infosys has closed below its long-term 200-day moving average as well. Long-term investors should buy the stock close to the lower boundary of this trading band.

Short-term investors can watch out for a bounce from the near term support band between Rs 1,880 and Rs 1,900. However, fresh longs should be avoided if the stock price falls below Rs 1,880. Aggressive traders can short the stock if it fails to move above Rs 2,000 next week.

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