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Lokeshwarri S. K.

This stock slid to a low of Rs 424 on Wednesday. We have a morning star in the daily candle stick chart.

The momentum indicators too are pointing towards a short-term bottom at Rs 424. But the weekly charts continue to look despondent. Resistance for the stock this week would be at Rs 472 and then Rs 490. Inability to rise beyond Rs 472 would be a cue to play short with a stop at Rs 492. Downward targets would be Rs 424 and then Rs 414. Fresh longs should be considered only on a close above Rs 492.

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