STERLITE
The stock is in a downward channel and is range bound, such channel mostly breaks on the upside, and the stock has bounced of 38% retracement levels off the recent run-up. Volumes also have picked up in the recent days. Upward break will be achieved on the breaking of 655 levels with volumes and could target 720-730 labels after the breakout. For the entire breakout scenario if and when the stock breakout of 655,630-625 cab be used as SL
The other scenario is that the stock breakdown from the channel in such case the stock would get progressively weak below 534.
2 comments:
hi sd its BHAI - ster has given Trendline brkout tstrdy abv 598 for which tg shd b 635-640 wchi shd achieeve 2dy..i prefer u to take fresh position only a clear move abv 668 only tgt urs..
sterlite hit 638.50 nd back..nw short with sl 642..less thn 1% nd enjoy...
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