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Infosys moved in a very narrow band between Rs 1,300 and Rs 1,400 last week. The

near-term outlook stays negative. The stock could move lower to Rs 1,217 and then Rs 1,122 in the near future.

Though the long-term trend in the stock is currently down, the stock is approaching the long-term support at Rs 1,100, which is likely to halt the current decline in stock prices.

Infosys could struggle to move above Rs 1,500 in the week ahead. If the stock moves above this level, the next resistance would be at Rs 1,550. For the medium-term, we expect a sideways consolidation between Rs 1,200 and Rs 1,700 in this stock.

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