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MUL was untouched by the mayhem in the markets last week; recording a weekly gain of over 7 per cent.

The third leg of the up-move from the Rs 446 trough seems to be in progress.

This wave has the targets of Rs 608 and then Rs 684. Short-term traders should stay watchful as the stock nears Rs 600.

A reversal from here will drag the stock lower to Rs 520 or Rs 502.

Weekly momentum indicators signal that the medium-term trend is on the verge of being classified as up.

Long-term investors can use declines to buy the stock with a stop at Rs 420.

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