Suzlon Energy has support at Rs 204: N Pillai

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Suzlon Energy has support at Rs 204: N Pillai

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that Suzlon Energy has support at Rs 204.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Suzlon Energy may test Rs 170-180: Sukhani Suzlon Energy looks weak: Mohoni Suzlon leads losers on Nifty ALSO READ See what other Experts & Brokerages are saying about Suzlon Energy See messages about Suzlon Energy Suzlon Energy BSE | NSE 28/05/12 Are Mutual Funds betting on Suzlon Energy?

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that Suzlon Energy has support at Rs 204.

Pillai told CNBC-TV18, "Suzlon has a very strong support around Rs 204 level. Though it is weaker on the charts but if it manages to hold Rs 204 on closing basis on a weekly close, I do not mind looking at that stock with a stoploss below Rs 200 and try to run up another Rs 20-30 on the upside, Rs 230-232 will be the target on the up."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.