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There was some stability in the stock last week as it moved sideways between Rs 480 and Rs 660.

The weekly loss of Rs 24 appears miniscule when compared with the previous week when the stock lost more than Rs 200. Immediate support on the chart is at Rs 450.

The band between Rs 400 and Rs 450 is a potential base for this leg of the down-move. However, the medium-term view will turn positive only on a close above Rs 660.

Short-term resistance will be at Rs 658 and Rs 724. Downward reversal from the first resistance will make the stock move in a sideways range between Rs 500 and Rs 650 for a few sessions.

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