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The long-legged doji in the weekly chart indicates that the stock could swing either way next week. The intra-week low of Rs 620 has retraced 33 per cent of the gains recorded from the March trough. That completes the minimum retracement requirement for this move.

The stock can move higher to Rs 664 or Rs 690 next week. A move beyond Rs 690 is required to indicate that the trend has turned positive again. Hold with a stop at Rs 618.

There is a strong support band between Rs 580 and Rs 605 that will support any further down move in the stock. Investors can hold the stock until it trades above Rs 580.

— Lokeshwarri S. K.

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