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Infosys moved up to an intra week high of Rs 1,840 before reversing down. A three-wave move has been completed by the stock from the trough at Rs 1,511. Falling volumes belie the strength in this short-term move.

The stock could drift lower to Rs 1,720 or Rs 1,670 next week. Halt above the first support will be a sign of strength and the cue for traders to buy the stock for short-term trading.

The resistance levels for the week would be at Rs 1,840 and then Rs 1,900.

The stock faces strong intermediate term resistance from the band between Rs 1,870 and Rs 1,900. Investors as well as traders ought to tread cautiously until the stock gets past this zone.

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