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This stock took a decisive step lower on Friday after struggling to move above the resistance at Rs 830 in the first four sessions. The volume spikes on days that it closed in the red has negative implications for the near-term. The immediate support for the stock is at Rs 760. Fresh shorts can be initiated if this level is penetrated since the next downward target is at Rs 706.

The negative medium-term outlook will be mitigated only on a move past Rs 900. However, the stock has strong support at Rs 700, which can act as a buttress in a sharp sell-off. The next subsequent support is at Rs 630.

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