SESA STERLITE Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock has come out from its range bound zone, further weakness expecting. (Updated On 11th August 2014, Monday).

SESA STERLITE

• As per previous report published on SESA STERLITE, stock gave a strong weakness after coming out from its range bound zone. (Click here to see previous report published on Sesa Sterlite).
• Now daily chart indicates stock has closed below its range bound zone as shown in graph no 1. as long as stock trades below its will favor bears.
• As per graph no 2 , stock has now closed below its 23.6% fibonacci retracement support zone, will now find next support around 265, 249 and 232. Stock to give further weakness if closes below its support levels mention above.
• Suggested Reading - OIL INDIA has formed descending triangle formation, weakness expecting if closes below it support.
• Even stocks major trend indicators like MACD and stochastic oscillator has now turned negative, this indicates stock to fall further, and as per moving average studies stock earlier moved up from 200 DMA and if falls further then will find 200 DMA support around 225 (as shown in graph no 3). Close Watch.
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