Suzlon Views!!!

Suzlon looks good for accumulation at lower levels…..Yeah after today’s fall I must be crazy saying the word buy??? Yup… but then I would buy Suzlon as an investment and not for trading and even if I were to trade it I would wait for my sell price patiently ( I guess that patience would turn my trade into an investment anyway). After a whole lot of problems Suzlon is back at making the right buzz;

• Suzlon Energy has forayed into the Swedish market with its first order coming from Triventus AB, a wind power developer and consultant.

• Suzlon Energy bagged a repeat order from Gujarat Alkalies & Chemicals (GACL) to set up, operate and maintain a 21 megawatt (Mw) wind energy project in Maliya Miyana in the Rajkot district, Gujarat. The project will comprise of 14 units of Suzlon's S82-1.5 Mw wind turbines.

• Wind turbines manufacturer Suzlon Energy today said it has bagged an order from conglomerate ITC for supplying 27 MW of wind power turbines to projects in Karnataka and Maharashtra for an undisclosed amount.

• REpower, a unit of Suzlon Energy, on Monday said it has signed an agreement with its parent company, to promote product sales in markets where Suzlon has a stronger presence. parent company, to promote product sales in markets.

Done with the news, let us move to the weekly chart below and see if there is a story there too;

Ok…from the chart above we can see that;

1. The price is nestled between the 50 and the 20 periods moving averages.
2. We CAN have an Inverse H&S as long as we now trade above 75/80(if we trade below it then this pattern would become suspect). The neckline being roughly 92/95 area. You are free to see the patterns as long as you don’t pre-empt them but trade their actual breakouts. It’s safe that way!
3. A strong break and a close above 95/100 can propel it straight to 150, where it might consolidate to form yet another bullish pattern; THE CnH! And the world will then scream BUY!

Assuming this pattern thingie is all bullshit and right now is the right time to wait then the right thing would be to try and get in at 60 odd levels if you get em there!

A few more numbers to chew on;

· 52 Week Hi/lo 145.85/33.05

· Market Cap 12,913.09 Crores

· Book Value 41.73

· Face Value 2.00

By the way I DID buy some Suzlon today!