Sell Suzlon Energy on rise: Bose

Technical Analyst, Rajat K Bose suggests those who have stuck earlier in Suzlon Energy to liquidate at higher levels because this chart looks very weak on the medium and long-term perspective.

Bose told CNBC-TV18, "There is a bounce back in Suzlon, but beyond that I would suggest that one should not be reading too much into this because unless and until Suzlon staying above Rs 53-57 range, there would be no sustained rallies. Sustained rallies might actually take up then maybe to Rs 69-70 but as of now crossing Rs 53-57 would be a tall order."

He further added, "Even if it crosses Rs 49 during the day, I would happy then we can look up to something like Rs 54-57. I would suggest anybody who has got stuck earlier to liquidate at higher levels because this chart looks very weak on the medium and long-term perspective."

Dislcosure: It is safe to assume that analyst and his clients may have an investment interest in the stocks/sectors discussed.

Source: Moneycontrol