Sterlite Industries has support at Rs 111: Abhijit Paul

Sterlite Industries has support at Rs 111, says Abhijit Paul, Technical Analyst, Brics Securities.

Paul told CNBC-TV18, "In metal index per se looks quite weak. The BSE metals index after the run up reacted back from its long term averages. Most of the stock seems to have topped out from a short term point of view. Sterlite Industries (India) is one stock which did sold off quite sharply and it seems that the selling is yet to be there. But I sense that there might be a possibility of looking into these stocks to buy on a dip."
He further added, "For Sterlite I sense a support of Rs 111, one should look for; that