- SESA STERLITE stuck in a strong range in a daily chart, indicates once stock comes out from its range then we can expecting some intraday sharp move.
- Daily chart indicates stock has broken its fibonacci fan line support as shown above which indicates further weakness , stock will now face 23.6% fibonacci retracement support around 283, If stock breaks with volumes and closes below and must stays below 283 then we can can expect further selling in sesa sterlite for next 1-2 days.
- (Short term trend) - Weekly chart indicates stock is look bullish as no sign of coming down from resistance, after making a bullish breakout in past , its previous resistance will now act as a major support, for short term traders if sesa sterlite falls then will find support around 270 levels.
- (Long term trend) - Monthly chart indicates that stock is coming down from its 50% fibonacci retracement resistance , as bulls lost their int erst in stock and price came down (as shown above). Stock must close above its 50% fibonacci retracement for long term trend to turn bullish again.
- Suggested stock to see - Stock Analysis on United Phosphorus (UPL)
Next Stock Will Now Update On 28th June 2014, Saturday Around 7:30 pm
