This is candle stick chart of Sterlite Industries. This company is from metal counter. Metal sector had very underperformed in recent bear market. This space is beaten by any other sector. Sterlite Industries had made low in this time. 86.15 is lowest price for this stock. This chart is daily chart of Sterlite industries.
This chart have shown technical pattern in recent days. Triangle is formed in this counter. with lower side is 110 level. This will break on upper side. If market is supporting then stock will again touch 120 level and higher. This triangle is formed and break will in next some days.
Comparison with other counters. Tata steel have much recovered from lows and performing well. Hindalco is another stock in this sector had touched 160 level and come down again to test 130 level. Sesa goa is trading 200 level. There is possibility of Sterlite Industries to form good chart in coming days.
What is your opinion is expected from readers also. This is my own opinion and not recommendation to any one. One can study market and decide what to do?
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