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Lokeshwarri S.K.

The third wave from the Rs 680 trough unfolded as per our expectation and the stock is now moving towards our second target at Rs 967. As mentioned last week, the band between Rs 950 and Rs 970 is an important resistance for the immediate term. A reversal from here can drag the stock to Rs 850 again. Conversely, a breakout past this zone will give the next medium term target of Rs 1,099.

Hold your long positions with a stop at Rs 890. Fresh long positions should be initiated only on a close above Rs 970.

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