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Infosys moved in line with our expectation and declined to test the long-term support at Rs 1125 on Friday. The intra day recovery from that level was strong and the stock went on to record a close well above this support. A short-term trough could have been formed here and the stock could attempt to move to Rs 1330 or Rs 1500 in the near term. Failure to move beyond the first resistance would denote that the stock would weaken again. Supports for the week would be at Rs 1110, Rs 1040 and then Rs 945.Infosys is currently hovering at key long-term support at Rs 1110. There is another support band just below between Rs 920 and Rs 940. It would be best to divest the holding on further decline since the next target is 200 points away.

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