The Hindu Business Line : Infosys

Infosys closed the week with a mild 2 per cent gain. Last week’s rally has taken the stock to the key resistance band between Rs 1700 and 1750 where both the 50 and the 200-day moving averages are present.

The strong resistance in this zone can result in a decline to Rs 1,640 or Rs 1,580 in the near-term.

Traders can buy the stock if it reverses above the second support.

Weekly oscillators such as the 10-week ROC and the weekly MACD have dipped in to the negative zone implying a cautious medium-term outlook.

This view will change only on a rally above Rs 1,820. The subsequent target for the stock is Rs 2,000.

— Lokeshwarri S. K.

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