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It was up, up and away for the Infosys stock last week with a 17 per cent weekly gain. The target of the third part of the short-term move is Rs 1,660 and then Rs 1,812. But it is highly unlikely that the stock will be able to get past the 200-day moving average at Rs 1,713 in the near future. Partial profits can be booked as the stock nears Rs 1,700. Fresh long positions are advised only on a close beyond Rs 1,720.

Though the stock moved contrary to our expectation and zoomed higher, it is below the strong medium-term resistance zone between Rs 1,680 and Rs 1,750. Reversal from here will make it move in the zone between Rs 1,300 and Rs 1,700 for a few more months.

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