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In our column last week, we had predicted dire outlook for this stock if it moved below Rs 740. The stock reversed from an intra week low of Rs 765 and made a brilliant dash to the weekly high of Rs 859. The stock has moved well past the 200 DMA but is halting just under the 50 DMA.

The next resistance for the stock exists at Rs 868. Break-out past this level will take the stock towards it previous high of Rs 938. Supports for the week exist at Rs 820 and then Rs 808. Hold with a stop at Rs 805.

Lokeshwarri S. K.

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