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 ...
Although the Action/Reaction method as taught by Andrews is a very good trading setup but is less known by Indian traders so am explaining it step by step.
First we draw a Multi Pivot Line : A line drawn across 3 or more pivots without touching prices in between.
The next step is to locate a previous low or high pivot point to use for drawing an action ...
At cmp and on dips the stock can be looked for accumulation.
The stock is in the support zone of 13-14.2
Going and sustaining above orange trend line
T1 15 ( Short term )
T2 19.2 ( Medium Term )
T3 28-33 ( Long term )
SL if it goes below green trend line currently around 13
Do review ur trading plan
& plan ur trade ...