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This is another pivotal, which seems on the verge of an upward breakout. The weekly charts are giving the first signs of reversing for the intermediate term. But we need confirmation from the action over next week.

The short-term trend will turn decisively positive only on a breakout above Rs 528. The price is presently moving sideways and some signs of fatigue are evident on the daily charts.

There can be a dip to Rs 493 or Rs 485 if price fails to overcome the resistance at Rs 527 next week. The target on an upward breakout beyond Rs 527 continues to be Rs 571.

Lokeshwarri S.K.

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