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The scrip managed to pull back from the brink last Monday and did a splendid job staying above Rs 850 for the rest of the week. The entire correction of the upward move from Rs 620 to Rs 894 could be complete and we could be on to another strong upward move. The medium-term outlook for this stock has turned positive again with the 10-week ROC pulling back above zero and the 14-week RSI pulling above 50. We recommend a buy with a stop at Rs 815. Short-term targets are Rs 895 and Rs 934.

Lokeshwarri S. K.

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