TECHNICAL ANALYSIS OF SUZLON ENERGY LTD

POSITIONAL :

“BUY SUZLON ABOVE 22 TGT 23/24”

“SELL SUZLON BELOW 21 TGT 20/19”

DAILY RESISTANCE: 22.83, 23.77, 25.27,27.77
DAILY PIVOT POINT: 22.27
DAILY SUPPORT:  21.33, 20.77, 19.27,17.77

The stock is showing correction since past few sessions and also sustaining above lower trend line support level. Currently it has formed reversal pattern on the short term charts and trading below the resistance level of 22.Breakout of its resistance level may show recovery in it where traders can expect targets of 23 and 24 while major support of 20 can be placed as technical stop loss.

Moving Average of Suzlon Energy Ltd.

NSE NEWS FOR 21, JULY 2015

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Indian rupee down 9 paise against dollar in early trade
Nifty Seen Opening Flat to positive
Down Jones 13 Points Up 18,100
Nikkei 88 Points Up 20,739
Hang Sang 130  Points Up  25,535
RESULT TODAY
·         Asian Paints Ltd. Quarterly Results is held on 21 july 2015
·         Cairn India Ltd. Board Meeting Quarterly Results AGM 21/07/2015 - Rs.4.0000 per share(40%)Final Dividend
·         Infosys Ltd. Quarterly Results is held on 21 july 2015

MARKET SUMMARY FOR 20 JULY 2015

Sensex fell 43.19 points to 28420. Nifty managed to hold the 8600 level, down 6.40 points to 8603. However, the broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.3-0.4 percent. The market breadth was positive as 1543 advanced against 1285 shares declined on the Bombay Stock Exchange. There is a degree of indecision among the bulls, and the last session being a Friday there had been some profit taking as well. it is still a one-sided game between the bulls and the bears, with the former still comfortable control over the turf.Our view is that so long the bulls are able to hold the Nifty above 8593 – 8589 range, there would not even be any minor threat for them. Only when you see it falling below 8575 on high volume expect lower levels of 8550 through 8540 getting retested. Till such time, the Nifty breaks 8540 decisively, the bulls would retain their advantage and we could expect renewed buying at lower levels once the selling is through. A fall below 8520 would signal that 8540 has been taken out the bears; however, as of now that looks like a tall order! Indian markets continue to trade weak in the noon session, though there is not much selling pressure and the major indices are moving in a tight range but there is also no trigger to let the markets move higher. Sensex traded 67 down at 28,395. Nifty traded 12.00 points down at 8,597 Benchmark shares indices ended lower on profit taking after sharp gains last week as investors turned cautious ahead of the monsoon session of parliament which starts tomorrow with focus on key bills including GST and land acquisition bill. Meanwhile, investors will be keenly awaiting first quarter earnings from IT major Infosys tomorrow.

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NSE NEWS FOR 20, JULY 2015

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Rupee down 12 paisa against dollar in early trade
Nifty Seen Opening 8634
Down Jones 33 Points Down 18,086
Nikkei 50 Points up 20,650
Hang Sang  72  Points Down  25,347
RESULT TODAY
·         Bank of India AGM is held on 20/07/2015 - Rs.5.0000 per share(50%)Final Dividend
·         Hindustan Zinc Ltd. Quarterly results held on 20 july 2015

MARKET SUMMARY FOR 17 JULY 2015

The Sensex ended unchanged at 28,476 levels up 29 points and the Nifty closed flat at 8,614 levels up 6 points. Benchmark indices continue to trade in a narrow range Sensex and Nifty oscillating between negative and positive zone.About 1378 shares have advanced, 1394 shares declined, and 171 shares are unchanged.  The index looks quite bullish! Even the Asian markets and the SGX July Nifty is also trading a minor premium at 8641 as we write this Market Outlook. In today’s session so long as the 8580-level is maintained, there is no problem for the bulls at all. It could head even higher even if there were to be an intraday dip that does not breach 8580 on a sustained basis. However, crossing the level of 8636 would be quite important for the index since only when it stays above this level then we can expect it to cross 8650 or higher. On the downside, if it were to fall below 8580 on a sustained campaign expect 8543 – 8538 support area getting tested. However, only if the level of 8515 is taken out on any major profit taking the bulls would lose their advantage. Sensex surged over 130 points in early trade today on the back of sustained foreign capital inflows after government eased FDI rules, and a firming trend at other Asian markets. Nifty climbed 34.90 points, or 0.40 per cent, to 8,642.

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Nifty On Track To Hit 8700 in near term
Down Jones 70Points up 18,120
Nikkei 30 Points up 20,631
Hang Sang  255 Points Down 25,417 
Result Today-
Board Meeting : Quarterly Results & Interim Dividend
                            ACC Ltd.
 

MARKET SUMMARY FOR 16 JULY 2015

The market ended on strong note. The Sensex was up 247 points or 0.9 percent at 28446. The Sensex touched a high of 28,478 points and a low of 28,245 points in the intra-day trade. ended at 3-month closing highs amid a broad-based rally led by financials after the cabinet today approved composite caps in several sectors. and the Nifty was up 85 points or 0.9 percent at 8608. About 1552 shares advanced, 1266 shares declined, and 165 shares were unchanged. The rally mood that started with Iran reaching a deal with the world powers which would allow the country to sell its crude without sanction, govt supported with Petroleum Minister Dharmendra Pradhan’s statement that International oil prices will come down with the imminent lifting of sanctions against Iran and benefit India.Hopes of an RBI rate cut, cheaper oil imports and possibility of further delay in US lending rate hike  propelled a barometer index of the Indian equity markets to provisionally close with gains of more than 275 points on Thursday.The 30-scrip sensex of the Bombay Stock Exchange provisionally closed with gains of over 275 points or 0.98 percent.The wider 50-scrip Nifty of the National Stock Exchange also closed in the green with over 84 points or 0.99 percent up at 8,608.05 points.Meanwhile, the narrowing of trade deficit coupled with strength in the global peers after Greek parliament approved the austerity reforms boosted investor sentiment.

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NIFTY TRADING KEYS FOR F 15 JULY2015

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Rupee ends 13 paise higher vs dollar to 63.39;
Nifty seen opening higher; may reclaim 8550 level
 Down Jones 3 Points Down18,050
 Nikkei 98 Points up 20,561
  Hang Sang  9.62  Points Down 25,046