sterlite industries:- Sterlite Industries has target of Rs 720

Sterlite Industries has target of Rs 720

Sterlite Industries has target of Rs 720, says Anu Jain, Vice President - IIFL Private Wealth Management, India Infoline.

Jain told CNBC-TV18, "I think it’s just a trend for the day and apart from that the fact that Sterlite is on support level, so on Friday it had shown that it is probably testing the support but with the news given today I think there will be added bonus to it. So at about Rs 678 where it closed, I am sure it is going to open a percent or two higher but with a stop loss of about Rs 665, Rs 720 looks possible as a swing target.”

She further added, “Intraday also you can see about 3% odd move, which will definitely come in, so it opens about 1-1.5% higher for day trader there would be a scope of 2%. It could surprise on the upper side because metals have been subdued and copper is doing well, so I would play this on the positive side."