Today had a chat with few friends on ICharts and we got discussing Suzlon,vis a vis renewed interest of the government and the push in renewable energy sector ...Wind and Solar. Suzlon obviously cropped up for discussion. So googled some news on it which you can read here and here. In the second link something of interes is:
"Wind energy might have missed big headlines but the deal street was buzzing with action. Dilip Sanghvi, chairman of Sun Pharma, bought 23 per cent stake in Suzlon Energy as a personal investment."
So is there a turn around story which will pan out in a year or two. Are the smart people in for the long haul???
The Weekly Picture:
On the weekly chart above strictly going by th TA tenets the price is below its all critical EMA's. For last few weeks its just moved sideways but a point to note is that there is plenty of trading going on as the volume shows. I know its a punter stock and mucho traded. It was one of the most active scrips in Nifty 200 today !
The Daily Drama;
As from the above chart you can see the Double Bottom did not really play out as a pattern. And now a small insignificant Double Top. The price is as the confluence of the 20/50 Ema's which are still bearish as the 20 EMA is still below the 50 EMA.
I would not like to trade it as daytrade, but yes a buy above 15 with a SL tad below 13 is good place for that ELUSIVE LONG HAUL ! Its going to be a very slow move, condidering that fact a single rupee and a half movement in it right now is A 10% move !!!!
If anyone out there has anything to add to the above and is following Suzlon actively do let me know in the comment section.
Cheers!!!
"Wind energy might have missed big headlines but the deal street was buzzing with action. Dilip Sanghvi, chairman of Sun Pharma, bought 23 per cent stake in Suzlon Energy as a personal investment."
So is there a turn around story which will pan out in a year or two. Are the smart people in for the long haul???
The Weekly Picture:
On the weekly chart above strictly going by th TA tenets the price is below its all critical EMA's. For last few weeks its just moved sideways but a point to note is that there is plenty of trading going on as the volume shows. I know its a punter stock and mucho traded. It was one of the most active scrips in Nifty 200 today !
The Daily Drama;
As from the above chart you can see the Double Bottom did not really play out as a pattern. And now a small insignificant Double Top. The price is as the confluence of the 20/50 Ema's which are still bearish as the 20 EMA is still below the 50 EMA.
I would not like to trade it as daytrade, but yes a buy above 15 with a SL tad below 13 is good place for that ELUSIVE LONG HAUL ! Its going to be a very slow move, condidering that fact a single rupee and a half movement in it right now is A 10% move !!!!
If anyone out there has anything to add to the above and is following Suzlon actively do let me know in the comment section.
Cheers!!!
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