Suzlon Energy may test Rs 170-180: Sukhani

110830 Investors following Suzlon Energy. Share this News with them.

0

Like this story, share it with millions of investors on M3

Suzlon Energy may test Rs 170-180: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that Suzlon Energy may test Rs 170-180. This is nit a trading opportunity or a buy on dips opportunity anymore. One has to wait for that support to emerge for a stock to stay put there.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS D Mehta positive on infrastructure sector Suzlon Energy looks weak: Mohoni Suzlon leads losers on Nifty ALSO READ See previous views by Sudarshan Sukhani 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?

Technical Analyst, Sudarshan Sukhani is of the view that Suzlon Energy may test Rs 170-180.

Sukhani told CNBC-TV18, "Suzlon Energy has been a favorite but the market doesn't respond that way. It has broken down support levels. The impression it gives is that it's going to reach out its original support at Rs 170-180 and I would not think that this is a trading opportunity or a buy on dips opportunity anymore. We have to wait for that support to emerge for a stock to stay put there. So it should be now out of all these."

He further added, "There is something going on in JP Associates . It is weak but there is a sense that it's bottoming out. In fact another infrastructure or construction stocks like Punj Lloyd is giving an impression of a big up move while on the other hand GMR Infra is saying nothing is going to happen here. So there is a mixed message coming. JP Associates is giving an impression that the worst is getting over at least for the short-term."

Disclosure: Analyst has delta neutral positions in Nifty and investments in the above share.