Sterlite Industries has made a Double bottom formation the last week on the Weekly Charts and the stock has moved sharply giving returns of more than 15% (105.55-88.4) in just 2 weeks time.
The Stock has also given a channel breakout last week and the stock has closed at Rs.99.9 levels the stock can be bought at the current levels with a stop loss on weekly closing basis of Rs.95.00 levels., with a price target of Rs. 138 levels
The Stock also is at oversold levels at the current price levels.
This could be a good investment bet as well from a long term investor's point of view as well. The Stock is also a good dividend paying stock with a healthy dividend payment track record as well.
This is High Beta stock and with the equity markets looking good in the near term the stock can well give good returns from the current price levels.
The Stock is available at good valuations at the current levels and the risk to reward ratio also seems to be very attractive, the target could be achieved within 2 months from now i.e near to 13th of August.
The Stock has also given a channel breakout last week and the stock has closed at Rs.99.9 levels the stock can be bought at the current levels with a stop loss on weekly closing basis of Rs.95.00 levels., with a price target of Rs. 138 levels
The Stock also is at oversold levels at the current price levels.
This could be a good investment bet as well from a long term investor's point of view as well. The Stock is also a good dividend paying stock with a healthy dividend payment track record as well.
The Stock is available at good valuations at the current levels and the risk to reward ratio also seems to be very attractive, the target could be achieved within 2 months from now i.e near to 13th of August.
1 comments:
People can book partial profit today at rs.111
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