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Investors with a medium-term perspective can consider selling the stock of Orbit Corporation. The stock’s steady intermediate-term uptrend that commenced from its March low (Rs 40), got accelerated in May. However, the stock encountered significant long-term resistance around Rs 227 and reversed direction, forming a dark cloud cover candlestick pattern in the weekly chart.

Since early May the stock has been losing its bullish momentum. Medium-term investors can sell it with target at Rs 100, while maintaining stop-loss at Rs 195. Short term traders can sell with target at Rs 140 and place a tight stop at Rs 178. — Yoganand D.

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