April 25, 2010

SUZLONE Weekly triangle

SUZLONE WEEKLY TRIANGLE
  • I have redrawn the SUZLONE triangle.
  • 73 to 75 is will act as resistance area
  • 68 to 69 is acting as good support.
  • a break out above 75 can take the stock above 80.
  • break below 68 can slide the stock below 62.
  • My view is that if nifty breaks 5161 and if suzlone breaks 68 at the same time enter short trade.
  • wait for this set up to come otherwise stay out.

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