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The outlook for Sterling and Wilson Renewable Energy is bullish. The recent rise from the low of ₹608 made last month indicates a trend reversal. Strong support is now in the ₹700-₹680 region. We see high chances for the stock to sustain above ₹700 itself going forward. Any intermediate dips are likely to be limited. Moving average cross overs on the daily chart also strengthens the bullish case.
Sterling and Wilson Renewable Energy share price can rise to ₹800 in the coming weeks. Traders can buy now at ₹730. Accumulate on dips at ₹710. Keep the stop-loss at ₹690 initially. Trail the stop-loss up to ₹745 as soon as the stock moves up to ₹755. Move the stop-loss further up to ₹765 when the price goes up to ₹780. Exit the long positions at ₹790.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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