Abhishek Mondal
In daily scale, Sterlite Technologies has given a breakout from the Ascending Triangle pattern above Rs 342-344 levels on Monday with higher volumes than its daily average volumes.
The Relative strength index (RSI) found support on its twenty days average and pointing upwards whereas MACD is trading with positive crossover.
Based on the above observations, traders can buy the stock in the range of Rs 350-355 with a stop loss below Rs 329 (closing) for a target of Rs 392.
Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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