Suzlon: Rising Wedge in Place

Back on 22nd Dec 2009: under Post: "Stock Ideas", with this Chart, expecting a price target of 116. The stock is currently at 93.50 (recommended at 84).

There seems the stock is gettin bit cautious, the stock is process of forming a rather Rising Wedge rather than a parallel upward channel. Looks like a good short candidate.The upside for now seems a bit limited. The stock has made intra high of 94.3. But, be cautious, if it reach 116 i would be happy, that been my primary target. However, currently, watch rising wedge, if breaks it can test trendline from top made at 145 in 5th June 2009

Rising Wedge:

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

Stock Ideas: ZEEL, SUZLON

ZEEL: Zee Limited
Flag Breakout:

05-Nov-09	225
17-Nov-09	274
Distance	49
Consolidation:
Start	18-Nov-09
End	21-Dec-09
BO Day	21-Dec-09
CMP	267
Tgt	310
SL	251

 Today Volume was also higher than last 24 days

Pivot Points

SUZLON: Continues in Upward Trajectory: CMP: 84.25

Suzlon is going great guns. The stock has broken out of its downward channel, and there is rather falling complex sort of HnS pattern on the chart, which has 110+ target on stock. Today stock made high at daily 89 SMA level, and it is at major EMA contraction zone. The 50 day SMA is at 76.909

I am long in this stock since price of Rs. 79, now SL moved to 79. Pivot Points on chart

Disclaimer:

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students