- Bulls are struggling below the hour cloud.
- For a decent bounce to happen they have to sustain above the cloud.
- If Price stays here then numbers like 1121 will get violated.
- 1145 and 1154 levels may act as resistance.
- CHANNEL OF PLATINUM
August 22, 2011
- Suzlon energy is closer to 2009 lows.
- In 2009 stock reversed from these levels, Before reversal volumes were low. But stock is showing good selling volume right now.
- So we have to see if the stock is able to take support at the previous lows or not.
- Good reversal pattern with price sustaining above 5 day high ema may give good up move. Up move also has to take out 43.70 level which may act as resistance.
- Breaking and closing below 33.05 will extend profits for bears of suzlon.
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