Sterlite Techno: Bungee Jumping

STERLITE TECHNO Weekly NSE Stock Chart Technical Analysis:
(This is a weekly chart so each bar/candlestick represents one week of activity)

Sterlite Techno fell another day today.  Close & CMP: 63.45

Market Outlook:

• The stock price has continuously fallen since July 2010.  And it is not showing any major recovery signs as of yet.
• It should make an upward correction on hitting Rs 58 price levels.
• After hitting 58 and going upwards again, it will try to head for 72.  If it rises above 72, then there is hope for this stock.

Technical Indicators:

• The price has been continuously falling since 7 months within a steep downward price channel. Currently, the price is headed towards its expected support level at 58.
• We can make a trade decision based on how it behaves near 58.
• The weekly chart has created the Three Black Crows formation (though this week is only 2 days old and there are still 4 more days for the weekly candle to change this formation).
• The stock price is deeply oversold since a long time, and hence a correction might be due anytime soon.
• The volume has also dipped, another sign that an upward correction could take place very soon.

All posts related to Sterlite Techno


STERLITE TECHNO Daily NSE Stock Chart Technical Analysis


(analyzed for Alok, Noida)

HDIL: Finally Finds Support

HDIL Daily NSE Stock Chart Technical Analysis:


HDIL Close and CMP: 155

Market Outlook:

• HDIL has touched support today, there is a good chance that it will bounce upwards again and not fall below 151.  
• If it opens higher on Wednesday, one may take a long position.

Technical Indicators:

• There is a 3 year old long-term support line which is right now providing support to the falling HDIL stock price.
• Today, the price fall stopped after hitting support and some increased buying also happened at this level. 
• The resistance is at 192. 
• The price is deeply oversold.
• Overall, there is a good chance that this support level at 151 will sustain and the price will move upwards for the time being.  

All posts related to HDIL 


HDIL Daily NSE Stock Chart Technical Analysis

(analyzed for D Murthy, Namakkal)