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Infosys was extremely volatile in the range between Rs 1,450 and Rs 1,650. Our first medium-term target at Rs 1,475 has been achieved last week. However, it cannot be assumed that the downtrend from the Rs 1,804-peak has ended yet.

The long-term moving averages positioned between Rs 1,650 and Rs 1,700 will be a strong impediment in the near- term.

A reversal from this zone can drag the stock lower towards Rs 1,450 or Rs 1,300 again.

Near-term resistance for the stock are at Rs 1,678 and then Rs 1,710. Supports for the week would be at Rs 1,484 and then Rs 1,450. Fresh trading shorts can be initiated on a reversal below Rs 1,676.

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