Sterlite Tech Rising Wedge: Target 250 levels; SL:345
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Sterlitetech
Sterlite techAccording to the double top formation, the target is 312, which is yet to be achieved.
In case that is achieved that would mark as a breakdown for the rising wedge thereby indicating more downtrend. As per the Rising wedge target: 265
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
STERLITE TECH Trendline BreakoutSTERLITE has been in a downtrend for 6 months. Bouncing off the trendline. Currently testing the trendline and resistance line again. Awaiting for a breakout/Reversal
Sterlite Technologies Limited- Extreme Price ActionSterlite Technologies Limited is currently struggling near Fibonacci @3.14 Projections. From Past three months, stock is not able to cross Fibonacci 3.14 levels. However as yet there are no sign of weakness or reversal in the stock.
Stock Might consolidate more near these levels.
Support are at 310, 270
Resistance at 360- 370, 430
Sterlite Technologies: Nice Consolidation, Will it BreakoutPlease check the annotations in the chart. Price has been consolidating and I will be a keen buyer when the breakout happens.
