SUZLON ENERGY LTD LOOKS BULLISH
THERE IS TWO POSSIBILITIES
1. MARKET CAN MOVE HIGHER FROM CURRENT LEVEL (CMP)
2. MARKET CAN COME AND TOUCH THE TREND LINE AND MOVE HIGHER.
LETS WAIT AND WATCH.
Formed a head and shoulders pattern right on 200 days moving average.
Broken the neckline.
Approaching the neckline again for a retest.
After retest, it can give a big downside or upside.
Downside target 1 - 929
Downside target 2 - 905
If after retest buying starts and the stock moves up, then it can give
Upside target 1 - 963
Upside target 2 - 970
hello friend we are going to talk on suzlon..
becoze interesting things happening in this stock.
you all of know what is fundamentals of suzlon.. now we ll discuss about its technical..
1-lots of block deal is done on this level..
2- we are seeing bullish or bearish divergence..(MEANS movement ll definitely come.. but. don't know where!!)
3-too much volatility...
RSI positive,Stoch move from over sold region & MACD cut in weekly chart. Macd line crossover in daily chart also helps to breakout the triangle and chance to go up to 20.29
Targets from trend lines (not shown in graph)
17.50 (if closing above,targets are below)
Stoploss: 15.20 on closing...
It is been observed that the price action broke out from the trending channel and also retraces back to previous support levels on last trading day. It is to observe today that whether the price action goes up again and breaks the previous high of 18 (where we keep our stop loss) or it fails to go up and continues to the prevailing down trend and breaks previous...