We can see a suzlon energy formed CUP & HANDLE pattern in 1W timeframe. Currently trading at 11.65 level having high value on closing basis compare to previous almost 4 & half year. Having immediate resistance of 12.05 level. Also break 500 moving average line on Weekly timeframe on closing basis first time, indicating bullishness. If suzlon break level of 12.05 on closing basis then we can see some new high level after 4-5 years. after breaking we may see 14-15-16-17.55 level. On other side due to strong resistance of12.05 level it may face some sort of resistance at this level.
today's analysis suzlon energy open at 11.75 level making high of 12.15 & get reversed & closed in red at 11.50 level. 12.05 level it's a strong resistance for suzlon. so after making a high of 12.15 level selling pressure is activated & it will take suzlon to down level. you may see higher level after closing of suzlon above 12.05 level.
suzlon energy open at 11.75 level making high of 12.15 & get reversed & closed in red at 11.50 level. 12.05 level it's a strong resistance for suzlon. so after making a high of 12.15 level selling pressure is activated & it will take suzlon to down level.
you may see higher level after closing of suzlon above 12.05 level.