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The scrip gave a rather muted performance, closing almost unchanged for the week. Volumes too were extremely thin on this counter. But the medium term trend in this stock has turned up from the low made on December 13, 2006. The stock can move upward towards Rs 490 and then Rs 515 over the medium term.

The Rs 495-level remains an important resistance for the short term. Failure to rally past this resistance will drag the stock towards Rs 424 once more. Buy on dips with a stop at Rs 448.

Lokeshwarri S. K.

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