A rally from this level to Rs 97 was nothing but a correction to its previous fall. This top also become a resistance which was confirmed once attemps to cross this level had failed last month. To indicate signs of weakness, the stock has also formed a lower top. The moving averages have also turned negative. The position of oscillators is also discouraging. Overall, the chart position hints at a downtrend.

As such, an exit at the current level is recommended. For short-sellers, Rs 89 should be kept as a stop loss.