Swati Hotkar, assistant vice president of Equity Technical Research of Nirmal Bang suggested a hold call for Ion Exchange India Ltd.
She said the stock is in a consolidation phase and identified the resistance at Rs 500- Rs 600. A breakout at those levels may give an upside rally which may go up to Rs 670 levels.
"On the downside it has a support of Rs 500, as long as it trades above that level, positive momentum can be seen for the future," the analyst said.