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The counter reversed from a high of Rs 1,088 on Monday and spent the rest of the week moving sideways. An inability to move past Rs 1,088 is a sign of weakness.

If this level is not surpassed early next week, we can see the stock drifting lower to Rs 916 or Rs 811.

Short-term support for the stock exists at Rs 980. If this level is crossed, the stock can fall to a low of Rs 904. The intermediate-term trend will reverse only on a fall below Rs 904. Long-term investors can hold the stock as long as it sustains above Rs 900.

Lokeshwarri S. K.

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