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Lokeshwarri S. K.

The stock went nowhere last week, remaining glued to the previous week's trading range between Rs 1,230 and Rs 1,280.

There is a descending triangle pattern on the daily charts. This is a bearish pattern.

But our positive outlook for the medium-term will change only if the price dips below Rs 1,220.

We continue to maintain that a reversal from these levels can take the price to Rs 1,329 and then Rs 1,384.

Hold your longs with a stop at Rs 1,210. Buy on a bounce from the Rs 1,220 to Rs 1,230 zone.

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