The stock has been a strong outperformer against the broader indices since last few weeks.
In fact, it made a spectacular recovery from the levels of 1,119 in March 2009 to the levels of Rs1,976 last week.
However, in last few trading sessions, prices have cooled off along with the trading volumes which has made a breakout past the levels of Rs2,000 unlikely. Any fall from these levels could drag the stock lower towards Rs1,650 and below.
The daily RSI is already in the sell mode, suggesting build-up of momentum on the downside.
We recommend a high-risk traders to SELL the stock between Rs1,702 - 1,722 with a stop loss of Rs1,750 for an initial target of Rs1,640.