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The scrip broke out above the resistance at Rs 495, that it was grappling with over the last three weeks. The surge on Thursday has taken the stock to an intra week high of Rs 509. The immediate resistance for this stock exists at Rs 510, where the 200-day moving average is positioned. A rally past this level will give the stock the medium term targets of Rs 541 and then Rs 614.

Weekly oscillators are giving buy signals after the surge on Friday. Buy on a close above Rs 510 with a stop at Rs 505.

Lokeshwarri S. K.

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