The counter has been trading below its short term moving averages consistently. During recent past the Bulls made number of attempts to capture 200 DMA but failed. The counter was finding strong support around 649 on a closing basis. However today the counter failed to close above the said level suggesting bulls gave up the battle. With other Technical Indicators looking quite weak possibilities of further down side from current levels in a near future can't be ruled out. Traders can initiate short position on the counter 644.15 SL 665 TGT 625-618.
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