The stock has been in a steady downtrend for several months now. From the recent price action, it is apparent that the momentum behind the fall however has been slowing.
The stock presents a low-risk buying opportunity with a stop-loss at Rs.486. The profit in long positions may be taken at Rs.580.
While there is a case for a brief bounce, the short-term trend remains bearish. The stock has to move above immediate resistance at Rs.602 to indicate scope for further upside.