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Lokeshwarri S. K.

This counter could not get past the resistance at Rs 460 that we had indicated last week and closed on a flat note. The 50-day moving average at Rs 460 continues to be an important resistance for the short term.

Traders can continue to short on rallies as long as this resistance is not overcome. Target beyond Rs 460 is Rs 475 and then Rs 487.

Though oscillators in the daily chart are giving tentative buy signals, it would be prudent to tread cautiously in the short term.

Supports on the way down will be available at Rs 402 and then at Rs 380.

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