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IT stocks led by Infosys weighed the market down last week. Despite the mid-week bounce, Infosys ended with a 5 per cent loss. The stock could spend a few sessions moving in a band between Rs 1,610 and Rs 1,730. Fresh purchases should be avoided while the stock is below Rs 1,730. The short-term outlook will turn positive only when the stock moves above Rs 1,800.

However it is highly possible that the stock breaches the support at Rs 1,600 and moves lower to Rs 1,535 in the near term. Traders can short the stock in rallies with a stop at Rs 1,750.

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