IamGeorgy

SUZLON is near 200 EMA (weekly) and 52 week high.

Long
NSE:SUZLON   SUZLON ENERGY LTD
Suzlon Energy Ltd has been always trading under 200 EMA in Weekly chart, but now it is facing some resistance because of it and also because of support/resistance zone valid since 2018. Last traded price is 7.35 and the 52 week high is 8.45. If it crosses these, expect strong pull back too. But you may enter after this pullback for short term, following the trend.

(Also from May 2018, it can be stuffed inside a rounding bottom pattern too. If true, then it can help it to go up for way more than ever.)


Positive news attached to Suzlon : It has been performing good last week since company bagged an order from CLP India to develop a 252 MW wind power project at Sidhpur.

PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.
Trade active: In daily charts, there is a (bullish) flag-pennant pattern. The daily candles from 4th June, till 17th are inside an equilateral triangle which began after the formation of a pole. So it forms a strong bullish candle and above 7.40, it might show more bullishness.

Comments

Is 6.7 a good support?
Reply
IamGeorgy StockWhizzer
@StockWhizzer, See, it is still within the parallel channel. Maybe it can correct once again, without breaking the channel or the rounding bottom and afterwards, it can retrace back. I won't enter before 8. If holding, I will keep it till worst case scenario when it breaks the channel and goes down from there.
+2 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter