Sterlite is hanging around a crucial zone. This could go either ways.
At present it is below 200SMA, If it can go above the 200SMA, then the bulls will take the control.
In the first circled area, one can see, the trend was about to turn up, but its failed (green, lime followed by marroon).
Now in the current circled area, we can see, its been a fight. This can fall in either wise, a if it turns marroon, then the downward trend will be confirmed.
In a failed case, it can test the previous low. That's 250-260 range.
At present it is below 200SMA, If it can go above the 200SMA, then the bulls will take the control.
In the first circled area, one can see, the trend was about to turn up, but its failed (green, lime followed by marroon).
Now in the current circled area, we can see, its been a fight. This can fall in either wise, a if it turns marroon, then the downward trend will be confirmed.
In a failed case, it can test the previous low. That's 250-260 range.