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The counter made two unsuccessful attempts, on Tuesday and Friday, to rise above Rs 540. Our medium-term outlook continues to be positive, this stock can be heading for Rs 601 and then Rs 674. But, the present consolidation phase will prolong unless the resistance at Rs 540 is crossed convincingly.

In the week ahead, this stock can move in the range between Rs 520 and Rs 550. Support below Rs 520 is at Rs 511. A breakout above Rs 540 will give the short-term target of Rs 556 and then Rs 567. Hold your longs with a stop at Rs 505.

Lokeshwarri S. K.

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