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The stock did not get past the resistance at Rs 1,850 last week. Nor did it weaken as per our expectation. It is consolidating in a sideways band, which looks bullish from a short-term perspective.

The short-term targets on the upside are Rs 1,866 and then Rs 1,910. Traders can play long with a strict stop at Rs 1,780. Investors should wait for a correction before entering this stock. There could be a medium-term correction in the offing, as the weekly oscillators are giving a sell from overbought levels and volumes continue to be low.

Lokeshwarri S. K.

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