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The stock moved between the intermediate term support of Rs 742 and the long term 200-day moving average last week.

A fall below Rs 742 will drag the stock towards its June 2006 low of Rs 620. But a reversal from here can pave the way for the stock rising to a new high.

It would be best to wait for a week more before taking medium term position in this stock.

The short-term outlook continues to be weak. A rally beyond Rs 830 is required to make the stock move higher towards Rs 845 or Rs 867.

Lokeshwarri S.K.

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