Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Sterlite Industries was a short call earlier also. It is facing significant resistance and on Thursday it broke down from that support level. Therefore, when it rallies it faces encounter resistance, when it falls it breaks support. That is the sign of a stock that finds it easier to go down."
He further added, "I think Sterlite is coming down. At some point it will stop, but this is not that point. Therefore, for day traders, swing traders, Sterlite is a short selling opportunity. One could buy Puts and then hold on."
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
