Stock have been a favorite for us from long time. Stock had a nice rally.When stock recently gave a break out on 30th April 2013, we went long for a target of 2600 which is achieved. Stock is in upward channel for 2 months.Stock found support for almost 5 times till now. Now stock is closed below 5 DEMA. However still 10 DEMA is held. If stock breaks down the trend line(below 2400), stock may see more correction towards 2200.
Go short on the stock on breakdown of the trend line or price moving below 2400 for target of 2270/2200/2170/2054 with SL at Recent High 2540.