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The stock stuck steadfastly to the narrow range between Rs 1,180 and Rs 1,220 last week. Tentative buy signals are apparent in the daily charts. The stock can attempt to move higher to Rs 1,240 and beyond that to Rs 1,275 next week. But, the negative outlook for the medium-term will reverse only on a firm close above Rs 1,280.

Important support for the intermediate term exists at Rs 1,100. Investors can be sanguine as long as this support holds. Dips can be used to buy the stock with a stop at Rs 1,090.

Lokeshwarri S. K.

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