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Last week, the stock surged 3 per cent, which was in line with our expectations. It is in an uptrend across all time frames. Indicators in the daily and weekly chart feature in the bullish territory. Short-term uptrend will remain place as long as the stock trades above ₹2,100 levels. Any corrective declines will find support at ₹2,200 or ₹2,100. Continuation of the ongoing rally can encounter resistance at ₹2,400. A strong rally above this level can push the stock higher to ₹2,500 over the medium term. Traders can stay invested with a stop-loss at ₹2,200 levels. Investors with a medium-term horizon can hold the stock with a stop-loss at ₹1,850 levels. Significant supports below ₹2100 are at ₹2,020 and ₹1,900. Medium-term uptrend will be in place as long as the stock trades above ₹1,900 levels.
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