Sterlite Industries (India) may slip to Rs 100: Sukhani

Sterlite Industries (India) may slip to Rs 100, says Sudarshan Sukhani of s2analytics.com.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Travelcafe
moneycontrol.com

Home » News » Stocks Views

Jan 21, 2013, 10.17 AM | Source: CNBC-TV18

Sterlite Industries (India) may slip to Rs 100: Sukhani

Sterlite Industries (India) may slip to Rs 100, says Sudarshan Sukhani of s2analytics.com.

Like this story, share it with millions of investors on M3

Sterlite Industries (India) may slip to Rs 100: Sukhani

Sterlite Industries (India) may slip to Rs 100, says Sudarshan Sukhani of s2analytics.com.

Post Your Comments

Share Cancel

Sudarshan Sukhani (more)

Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical

Sterlite Industries (India) may slip to Rs 100, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, " Sterlite Industries (India) is a disappointing chart and metals are now suggesting that they  have done their bit and are likely to turn around. In case of Sterlite it did not participate in the rally as Hindalco  Industries had done. For the last one month it has been in a distribution or what could have been a consolidation.  Eventually that has turned out to be distribution, a confirmed bearish head and shoulder pattern."

He further added, "Technical traders who are listening will be able to identify that pattern very easily and a breakdown  from it. So it is going towards Rs 100 probably. At Rs 113 that’s a 13 percent downside, it is a lot of downside for a  blue-chip stock. It is a very nice trade. Just buy Puts and hold on."

Disclosure: I have no personal holding in the above stock.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Sterlite Industries (India) may slip to Rs 100: Sukhani

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login