- I don't know about the fundamentals of sterlite Industries. It must be very bad.
- The stock has broken important support levels. There is a death cross in the stock. Below the death cross there is a triangle broken it's support line.
- Everything points to some more correction.
- Now for monday if the stock trades below 158 it will aim 150 next week. One should have correct stop loss as the stock might attempt for a bounce back because of the oversold condition.
- As long as it trades below 158 target of 150 is possible.
- If the stock breaks 150 enter short again for another 10 points minimum
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
August 15, 2010
Death cross of Sterlite Industries
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