The stock has corrected a lot and appears set for a short-term bounce. Any downward move during this week would be an opportunity to buy with a stop-loss at Rs.2,100.
The initial target is at Rs.2,500, followed by major target of Rs.2,685. While there is a case for a minor bounce, there are no signs of reversal of the major downward correction.
The stock has to move above the June 24 swing high of Rs.2,960, to indicate reversal of the medium-term downtrend.