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The stock ruled weak and also dropped to the target zone of Rs 3,060-3,080 mentioned last week.

The stock is perched quite close to the support zone at Rs 3,020-3,050.

We expect the stock to seek support at this zone and stage a recovery subsequently.

A close below Rs 3,020 would impart further weakness and the stock could drop to Rs 2,920-2,950.

Hold with a stop-loss at Rs 3,000.

B. Krishnakumar

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