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Infosys closed the week with a mild 4 per cent gain. A morning star candlestick pattern is being formed in the weekly chart that signals a short term reversal.

The third part of the correction from the October 16 trough can take Infosys higher to Rs 1,340 or Rs 1,450 in the near term.

Supports for the week ahead would be available at Rs 1,100 and then Rs 1,040.

We retain the neutral medium term view for this stock. The sideways move between Rs 1,100 and Rs 1,400 appears to be a base-building effort by the stock.

Support below is at Rs 950. Investors with a long term perspective can buy selectively close to Rs 1,000.

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