Sterlite Industries can touch Rs 900 levels: Jitendra Mehta

ET Now caught up with Jitendra Mehta, Technical Analyst, Edelweiss, to find out his outlook on Sterlite Industries.

Do you have a BTST idea or a Buy Today Sell Next Week idea on Sterlite Industries?

We like Sterlite at this price. The stock has been advancing gradually and is now stabilising at around Rs 830-835 levels. We are looking at an uptake till around Rs 880-890 levels. It can also move to Rs 900 levels. A trading stoploss of around Rs 810 would do well. So, one can just take a long position here.

We have a few BTST ideas. At the current prices, one can look at Adani Power to buy at Rs 815 for some kind of 4-5% upmove next week. One can look at buying S Kumars Nationwide at this price for some kind of uptakes. I also like BEL from this price band. It has broken through its previous highs. All the three stocks have a potential to give you returns by next week.