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This stock achieved our short-term target at Rs 2,010 and then stayed in a volatile range between Rs 1,850 and Rs 2,000. The near-term outlook for the stock stays positive as long as it holds above Rs 1,900. But a sideways move between Rs 1,850 and Rs 2,000 is possible for a few days before the next medium-term move. There is a strong support band between Rs 1,700 and Rs 1,720 that will support the stock.

But the stock continues to face strong medium-term resistance at Rs 2,000. Close beyond this level will signal that the stock could be heading towards its previous peak at Rs 2,439 and would be the cue for short-term investors to initiate fresh long positions.

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