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Infosys jerked out of its somnolent state to resume the down trend that began in February. The downward gap formed on Wednesday and the breaching of the support at Rs 1,750 are ominous signals. We had expected a docile third leg of the move from the February peak that halts around Rs 1,700. But a full-blown third wave can make the stock fall to Rs 1,450. Near term support can be expected around Rs 1,626.

Investors ought to desist from fresh purchases once the stock slips below Rs 1,700. Stop loss for investors has been shifted lower to Rs 1,600. Resistance levels for the week would be at Rs 1,840 and then Rs 1,920.

— Lokeshwarri S. K.

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