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This stock remained remarkably steady amid all the mayhem in the markets last week. It drifted down towards the lower boundary of its current trend channel at Rs 2,300. We adhere to our view that the medium-term outlook stays positive as long as the support at Rs 2,300 holds and the stock could reverse from these levels. Investors can hold the stock with a stop at Rs 2,300.

But the daily momentum indicator is signalling weakness in the short term. The stock can fall lower to Rs 2,225 or Rs 2,189. Traders can watch out for buying opportunity from either of these levels.

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