Suzlon Energy may rally upto Rs 45: Tulsian

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Suzlon Energy may rally upto Rs 45: Tulsian

Suzlon Energy may rally upto Rs 45, says SP Tulsian, sptulsian.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Suzlon Energy See messages about Suzlon Energy

Suzlon Energy may rally upto Rs 45, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Suzlon, Indiabulls and DLF looks like dead cat bounce because there have been huge shorts. In fact the trend which has been prevailing in the market that the bears or the short sellers have just been hammering the stock which are being seeing the weakness. In fact all of them are falling in that category except for Suzlon because on that stock I have expressed my views that I don't see it going to as low as Rs 35 or maybe at those levels. So renewed buying interest does come in and that compels the shorts to get covered."

He further added, "Same things is happening with Indiabulls Real Estate also because if people start taking a valuation call that the share has corrected much beyond its fundamental value which may not hold right in the longer term but still those things are seen there. In case of DLF I will be holding my different views because we have been seeing this kind of short covering at every level. But ultimately if you see the price pattern of DLF - ultimately it is forming the lower bottom at every trading cycle. Because I recall in the last couple of months if you see - it has been correcting from Rs 250 to Rs 220, then again seeing these kind of bounce backs. But ultimately it's on a lower bottom forming pattern."

"So this is purely looking a dead cat bounce for that stock. But yes in Suzlon I think that one can expect the reversal of the trend on a sustainable basis and can make the stock to move to Rs 45 but I won't be holding my positive view on other stocks."