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B. Krishnakumar

Even amidst the carnage witnessed last week, this stock managed to hold ground.

The damage to the market sentiment would have been worse, but for the relatively firm trend in the stock. We continue to, however, favour a short-term bearish outlook.

A drop to Rs 805-810 remains our preferred view. Only a close above Rs 870 would blunt the bearish outlook.

On the upside, the stock could face resistance at Rs 855-865. Remain invested with a stop-loss at Rs 825. Fresh exposures may be avoided.

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