After a choppy session, the stock tested its key support at ₹1,500 in the previous week. It can extend its sideways movement around the support zone and, hence, traders should remain cautious in the coming week, too. Only a strong breach of the support at ₹1,500 will be a cue for initiating fresh short positions with stop-loss at the same level. The indicators in the daily chart are featuring in the bearish zone. The stock can decline to ₹1,455 or ₹1,409 in the near term. However, a conclusive rally above ₹1,600 can take the stock higher to ₹1,650 and then to ₹1,700. The short-term trend remains down as long as the stock trades below ₹1,810 level.
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