Buy Suzlon Energy on dips: M Thacker Thacker
Published on Wednesday, November 11th, 2009 at 7:00 PMAuthor: stockalert (2026 Articles)
Buy Suzlon Energy on dips, says Mitesh Thacker, Technical Analyst, miteshthacker.com.
“Suzlon Energy bounced back from extremely oversold levels but there was no sign of long-term accumulation, so the moment it hit its first short-term moving average which was a ten day moving average at Rs 67-68 the rally kind of tapered off. So it might spend sometime in this range of Rs 65-66 on the higher side and Rs 58-55 on the lower side. So you might see the stock going to some sideways consolidation and making a base and then moving up. So on declines it would still be a good trading stock to buy where the risk reward is favourable on the long side.”
Source : MoneyControl
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