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The counter hit an intra week high of Rs 2,261 on Monday and spent the rest of the week moving sideways just above the 50-day moving average. The Rs 2,260 level is the trend decider for this week. Failure to rally above this level would see the stock reversing and moving lower to Rs 2,116 and then Rs 2,031.

A rally above Rs 2,260 would mean that the move from the low of Rs 2,100 is continuing. This would give the stock the targets of Rs 2,321, Rs 2,381 and then Rs 2,437. Buy the stock on a close above Rs 2,270.

Lokeshwarri S. K.

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