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The sharp decline recorded on Friday resulted in Infosys closing the week with a 6 per cent loss.

The short-term trend has turned negative and the decline can continue to take the stock to Rs 1,065 or Rs 980. Resistances will be at Rs 1,164 and then Rs 1,204.

Short-term traders can play short in the stock with a stop at Rs 1,170.

Medium-term trend in Infosys continues to be sideways between Rs 950 and Rs 1,500. The stock is currently nearing the lower boundary of this trading range. Presence of a cluster of long-term supports between Rs 950 and Rs 1,100 makes it an ideal zone where long-term investors can accumulate the stock.

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