Sterlite Technologies Hits 10-Month High, SEBI RA Sees Breakout Potential Above ₹130

Sterlite Technologies extended gains on Tuesday, to rise to its highest in over 10 months. The stock has been steadily climbing after the company posted a 17% increase in Q1FY26 revenues at ₹1,019 crore and a 94% surge in EBITDA to ₹140 crore.

After closing over 8% on Monday, Sterlite Technologies shares ended 2% higher at ₹128.69.

According to SEBI-registered analyst Vijay Kumar Gupta, the stock is currently consolidating just below a critical resistance zone of ₹125 - ₹130.

Despite multiple attempts, it has failed to close above this supply band, making it a strong intraday hurdle. A clean breakout above ₹130, especially with volume, could trigger a fresh rally, he added.

Tuesday’s price action shows a red-bodied candle with a rejection wick, indicating short-term profit booking. However, the broader trend remains bullish as long as the price stays above ₹108 - ₹110, Gupta said.

The recent sharp climb appears to be transitioning into a flag or sideways consolidation, often a precursor to a rally. On the downside, the ₹90 - ₹95 zone serves as a near-term support and a potential re-entry point for short-term traders.

A deeper correction could find support at ₹65 - ₹75, a previously tested breakout base, he added. For long-term positional buyers, the ₹50 - ₹60 range marks a major bullish order block, built from an earlier accumulation zone.

Year-to-date, the stock has gained over 12%.

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