Sesa Sterlite share price technical's 2014

Sesa Sterlite share price technical’s 2014

Sesa Sterlite stock daily chart analysis

Sesa Sterlite share on last trading session closed at 194.4 with gains. On daily chart, stock price trend and momentum both are bullish. Stock is trading above major support with bullish divergences on indicators.

For month of April 2014, Sesa Sterlite share support zones are 186 and 177 while on upside 200 and 208 are resistances as well as target in current scenario.

Traders above 186 on closing basis keep long view fro Sesa Sterlite share and keep targets at 200 and then 208.

Sesa Sterlite stock weekly chart analysis

Sesa Sterlite share this week showing gains and head given bullish breakout above major resistance. Weekly chart price trend and momentum both are bullish and stock is heading for big upside targets. On downside 180 was major average and now strong support. Above it on weekly closing basis keep long view for stock and expect 225 to 260 rupee targets in next 6-12 month s period.

These levels also are strong resistances from medium to long-term view.

Weekly chart indicators patterns are suggesting bottomed out stage for stock price.

Sesa Sterlite stock monthly chart analysis

Sesa Sterlite share in last 6 month had given 6-7% returns to investors and still underperformer as compared to major indices. Fundamentally and by valuation means stock is good bet for long term. Watch 200-210 as long-term breakout level and 280 rupee will be 12-month target zone and 360 will be 2-3 years target zone.

On downside, 120-150 was best buy zone, which was last seen in aug. 2013 while 50-70 rupee was undervalued zone, which was last seen in 2008.

Sesa Sterlite company description

Sesa Sterlite Limited, formerly Sesa Goa Limited, is a diversified global metals and mining company. The Company is engaged exploration, mining and processing of iron-ore. The Company operates in three business segments: iron ore, metallurgical coke and pig iron. The Company is also engaged in producing pig iron and metallurgical coke. Effective August 12, 2013, Sesa Goa Limited , a 55.1%-owned unit of Vedanta Resources Plc acquired 70.5% interest in Vedanta Aluminium Limited (VAL) and raised its interest to 59% from 20.17% by acquiring a 38.83% interest in Cairn India Ltd. On August 17, 2013, the Company and Sterlite Industries (India) Ltd (Sterlite) announced that merger of Sterlite and The Madras Aluminium Company Limited (MALCO) with the Company and transfer of MALCO power plant to Vedanta Aluminium Limited (VAL). In August 2013, it announced that the merger of Sterlite Energy Limited with the Company and the demerger of the Aluminium Business Undertaking of VAL into the Company.

Sesa Sterlite stock fundamental ratios

Range194.50 – 197.40
52 week119.30 – 213.30
Mkt cap581.52B
Beta    –
Inst. own    –

The Author

Pramod Baviskar

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