Stock has broken out from the consolidation which held for last 3 week. Volumes have gone up significantly along with price move. Stock has been trading above 20, 50 and 200 DMA, indicating positional uptrend. Oscillators have been showing strength on the weekly chart. We recommend buying Sterlite Tech for the upside target of 400, keeping SL at 350.
CMP: Rs 72.60
Target: Rs 69
Stop loss: Rs 78
Stock price has broken out from the downward sloping trend line, adjoining previous two tops on the daily charts. Indicators like RSI and ADX have turned bullish on the daily and weekly charts. Flag Pattern breakout is observed on the weekly charts, indicating continuation of an uptrend. We recommend buying FSL for the upside target of 78, keeping SL at 69.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.