Suzlon Energy’s share rate can go up to Rs 19 as per technical analyst Ashish Kayal, Founder of Waves Strategy Advisors. Suzlon Energy is a leading company in the wind energy sector, with a recent breakout in its stock that has seen its share price surge from around Rs 10 to over Rs 15. While the sudden boom in a cheap stock may attract investors, it also calls for caution. As the share rate of Suzlon is rising, investors are buying fast.
According to Kayal, Suzlon Energy has a breakout from the inverted head and shoulders pattern, and the company has been performing consistently well after recovering from its debt position. From a technical point of view, Suzlon stock has given a breakout with the neckline of 12 with an inverted head and shoulders pattern. According to this pattern, Suzlon share can show a level of Rs.19.
However, Kayal notes that the Suzlon stock is currently in the overbought zone as per the RSI. In such a situation, considering the target of Rs 19 in the stock, every fall should be seen as a buying opportunity. As far as support is concerned, the Rs 12 level is crucial.
As far as the return of Suzlon’s share is concerned, it has given a return of about 72.73 percent in one month. At the same time, this stock has given a return of about 79.25 percent in three months. Since January 1 this year till date, Suzlon’s stock has given a return of about 34.43 percent. As far as one-year returns are concerned, Suzlon has given a return of around 71.69 percent. At the same time, the three-year return has been around 216.67 percent.
Investors should note that investment advice is not being given here. Please consult your financial advisor before investing.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
