Friday, 14 November 2008

Suzlon Energy has resistance at Rs 75-76: Gujral

Technical Analyst, Ashwani Gujral is of the view that Suzlon Energy has resistance at Rs 75-76.

Gujral told CNBC-TV18, "Suzlon Energy is in some sort of a range, it’s got support around Rs 54 to Rs 55 zone and again it’s got resistance upwards at around Rs 75 to Rs 76. These stocks are going to remain volatile in this Rs 20-30 range whenever you have an open interest cut they will come down about 10% to 15% and on an up day the same stock will go up 8%. But overall they will remain in this Rs 30 kind of range from Rs 45 to about Rs 75."

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

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.