Friday 31 October 2008

Suzlon Energy may slip to Rs 17: N Pillai

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that on the downside Suzlon Energy will go up to about Rs 17.

Pillai told CNBC-TV18, "Suzlon Energy by going below Rs 50, it signal a major danger signal that it is going to collapse further. The figures what I have on the downside you may not be liking to hear that, it will go up to about Rs 17 eventually on the downside. The upside if it comes to about Rs 61 to Rs 70 range, I think there will be a tremendous amount of resistance there and it is not going to go beyond that. So every rally will have to be sold into this stock. The technical picture for the stock is so bad that eventually it is going to go close to about the Rs 20-17 levels."

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

Source: Moneycontrol

Posted by Harsh at 07:20

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