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The stock is consolidating in a sideways band between Rs 500 and Rs 540 over the last three weeks.

The outlook is neutral this week.

The price can continue to be range-bound this week as well.

We need a breakout from the aforementioned range to give a clear direction to the price.

Short-term support exists at Rs 500 and then at Rs 490.

Resistance on the higher side would be at Rs 565. Hold with a stop-loss at Rs 490.

Lokeshwarri S.K.

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