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This stock moved in line with our expectation, consolidating in a narrow band between Rs 1,150 and Rs 1,100 last week. There was an improvement in the volumes towards the later part of last week. The oscillators in the daily chart, too, are signalling a buy.

The price can move higher to Rs 1,181 and then Rs 1,200 next week. Significant resistance can be encountered near the previous high of Rs 1,184. Our medium-term target is Rs 1,247. Traders can hold this stock with a stop at Rs 1,060. Fresh buying for trading purpose can also be done with the same stop.

Lokeshwarri S. K.

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