Suzlon Inverted Flag

Suzlon have now given the bearish flag.
Check the chart and the target of 1050~1025 would achieved once it breaks the 1110 level.

While for the second time I am trying to point out the flag. Hope it works out correct.


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vivek said...

so it didnt turn out to be a bearish flag--did it. i dont want to make a silly remark about it -- what my interest is to ask you---what do u think was that pennant and how wud u explain the move to 1300+ now---thanks

yndesai said...

Thanks for the comments as I did not do any follow up on this one. I do not take short positions. It was a caution call.

While I am not a proffessional and am bound to go wrong.

If you read my FAQ you will find that predictions can go wrong and you must have your backup plan.

Now comming to he move to above 1300. Usually I do not analyze the reason behind the move but I try to predict "What Next"

BUT will try to answer you

Note that the move is with lot of volumes. There might be some bad news expected in this stock and it fell on 15th while till 25th it would have become clear that the bad is not so bad and also there is an expiry of the F&O comming so lot of postion unwinding would have occured. While the move on 25th have atleast given us to think afresh in this counter.

PS: thanks for maintaning net etiquite and not making silly comments.

vivek said...

frnd- i also got thinking and concluded tht it was more of a symmetrical triangle rather than a flag.... thts all i can say -- i was actually asking ur tech view on the same and not a non tect reason like bad news etc.. any way i dont expect any more replies on the subject since i am sure u will have more calls to post etc and must be busy--if u do feel like chatting... email me! thanks for taking the trouble and answering even this much-- happy trading!