Strong bearish trend:Sterling and Wilson Renewable Energy Ltd
Sterling and Wilson Renewable Energy Ltd has been in a strong downtrend for a long time.
It is consolidating near the strong support zone of 482 levels
20 EMA (Black line) is trading below 50 EMA (Orange line) which in turn trading below 100 EMA (Blue line) confirming the bearish trend.
Recently it has bagged a solar project order of Rs. 504 Cr from a private firm in Rajasthan.
The 482 levels has been firmly held for more than 10 sessions.
Technically, the downside risk is limited.
RSI is also showing some strength
The next resistance levels are 535, 616, 66, 795
It is consolidating near the strong support zone of 482 levels
20 EMA (Black line) is trading below 50 EMA (Orange line) which in turn trading below 100 EMA (Blue line) confirming the bearish trend.
Recently it has bagged a solar project order of Rs. 504 Cr from a private firm in Rajasthan.
The 482 levels has been firmly held for more than 10 sessions.
Technically, the downside risk is limited.
RSI is also showing some strength
The next resistance levels are 535, 616, 66, 795
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