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This stock reversed under the resistance zone at Rs 440 last week. The momentum indicators in the daily chart are indicating a sell while the weekly oscillators are meandering sideways. The implication is that the medium-term outlook is neutral while caution is advised in the near-term.

The stock could move sideways between Rs 390 and Rs 440 next week.

Break-out beyond either boundary will determine the near term trend in the stock. Support below Rs 390 is at Rs 360. Short-term traders can buy the stock in corrections with a stop at Rs 355. Investors should wait for lower levels.

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