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This stock clung to the key support at Rs 156 in the early part of the week before ending the week slightly above this level. Our short-term stop-loss at Rs 150 has not been penetrated yet. The movement in the early part of next week will determine our medium-term view for this stock. As we have been reiterating, close below this level will mean a possible decline to Rs 130 over the medium-term.

Conversely, an upward reversal from this level will lead the stock higher to Rs 176 or Rs 200 over the medium-term. Positive divergence in the weekly rate of change oscillator implies medium-term strength. Short-term traders can hold the stock with a stop at Rs 150.

— Lokeshwarri S.K.

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