is after a massive rally earlier that pushed the price near the 800 level the stock entered a prolonged downtrend. However the chart shows that the heavy selling pressure has recently stopped. The stock has formed a base at the bottom and is currently showing signs of a short-term recovery trading at 517.90. The stock has built a strong support zone in the 380–400 range. Over the past few months whenever the price dropped to this area buyers stepped in and pushed it back up. This makes it a very crucial base to keep an eye on. Right now the stock is testing an immediate resistance hurdle near the 517–520 zone. If it can successfully break and sustain above this level the next technical target would likely be around the 600 mark. For current holders it is wise to maintain your positions with a trailing stop-loss since the stock is showing strong recovery momentum from its base. New short-term buyers should wait for a decisive daily close above the 520 resistance level to confirm a true breakout before making fresh entries. Once this 520 hurdle is crossed with good volume, you can aim for a short-term target near the 600 mark. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.

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