SWING IDEA - SUZLON ENERGYA potential swing trade opportunity in Suzlon Energy - a leading renewable energy solutions provider in India.
Reasons are listed below :
Strong Support at 34-36 : Suzlon Energy has found a robust support level in the 34-36 range, indicating resilience and potential buying interest at these levels.
Bullish Engulfing Candle : A bullish engulfing candlestick pattern, confirming the hammer formed in the previous week, suggests potential upward momentum.
0.382 Fibonacci Support : Finding support at the 0.382 Fibonacci level reinforces the bullish outlook, providing a solid foundation for potential upward movement.
Trading Above 50 and 200 EMA : Suzlon Energy is trading above both the 50 and 200 Exponential Moving Averages (EMA), indicating positive momentum and potential bullish trend continuation.
Constant Higher Highs : The stock has been forming constant higher highs, reflecting a trend of increasing bullish momentum and reinforcing the potential for further gains.
Target - 49 // 60
Stoploss - weekly close below 35
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