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Infosys reversed from an intra week low of Rs 1,605. The affect of the dark cloud cover was partly mitigated by the white candle that was formed last week. The near term outlook is neutral. This short-term reversal can make the stock rally to Rs 1,765 or Rs 1,864.

But caution should be exercised around the resistance area Rs 1,750. We adhere to the view that the medium-term outlook will turn positive only if the stock rallies past Rs 1,950.

Traders can buy the stock with a near term perspective with a stop at Rs 1,600. Investors should wait for a move past Rs 1,950 before buying the stock.

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