Suzlon Energy can touch Rs 18: Merani

Nooresh Merani, AVP Technical, AMSEC Research is of the view that Suzlon Energy can touch Rs 18.

Merani told CNBC-TV18, “Technically Suzlon Energy seems to be bottoming out but every time it tries to make some bottom it has kept on inching lower over a period of time and people have been stuck at every levels from Rs 50-30 etc. So if the investor is already holding on to the position, may wait for another month or so and may be any bounce backs to Rs 20 is better to take out the money and get into some other stocks. So around Rs 14-15 I would expect the stock to bottom out in the next couple of sessions." He further added, "Technically every time the stock falls, in the last 2-3 months it has fallen from Rs 20 to Rs 15 a couple of times. So we may expect some bounce back to Rs 18 where one can review. May be around Rs 14 we could see some bottom up buying.”