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The stock achieved our first target of Rs 1,800 last Tuesday and then slid downward for the rest of the week.

The short-term outlook is negative. But strong support lies at about Rs 1,720.

The support beyond Rs 1,720 is at Rs 1,660.

A sideways consolidation between Rs 1,700 and Rs 1,800 would be an ideal opportunity for traders to go long with a stop-loss at Rs 1,650.

A breakout beyond Rs 1,820 will take the price to Rs 1,875 and then Rs 1,955.

Lokeshwarri S.K.

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