SUZLON-MORE WIND REQUIRED TO SAIL THROUGH
Suzlon, once a darling of the stock market, has shown signs of strength by crossing a major hurdle of ₹25.70, which it had been trying to cross since January 2012. This is a very positive sign, and it indicates that the stock could be poised for further gains.
On a monthly scale chart, Suzlon has finally succeeded in crossing the crucial ₹25.70 mark after almost 10 years and 9 months. This is a very good sign, and it suggests that the stock is entering a new bullish phase.
According to Fibonacci retracement, the stock's first target is ₹40.40, which is a very important level of 1.618. If the stock breaks above this level, it could then move towards ₹64.55, which is the 2.618 Fibonacci retracement level.
I am closely monitoring this stock, and I am optimistic about its future prospects. However, it is important to note that I am not a SEBI registered advisor, and my views are personal and may be biased as I am invested in this stock. Please consult your financial advisor before making any investment decisions.
On a monthly scale chart, Suzlon has finally succeeded in crossing the crucial ₹25.70 mark after almost 10 years and 9 months. This is a very good sign, and it suggests that the stock is entering a new bullish phase.
According to Fibonacci retracement, the stock's first target is ₹40.40, which is a very important level of 1.618. If the stock breaks above this level, it could then move towards ₹64.55, which is the 2.618 Fibonacci retracement level.
I am closely monitoring this stock, and I am optimistic about its future prospects. However, it is important to note that I am not a SEBI registered advisor, and my views are personal and may be biased as I am invested in this stock. Please consult your financial advisor before making any investment decisions.
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