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#Suzlon has shown signs of strength by crossing a major hurdle of ₹25.90, which it had been trying to cross since January 2012. This is a very positive sign, and it indicates that the stock could be poised for further gains.
On a monthly scale chart, Suzlon has finally succeeded in crossing the crucial ₹25.90 mark after almost 10 years and 9 months. This is a very good sign, and it suggests that the stock is entering a new bullish phase.
According to Fibonacci retracement, the stock's first target is ₹40.75, which is a very important level of 1.618. If the stock breaks above this level, it could then move towards ₹65.05, which is the 2.618 Fibonacci retracement level.
On a monthly scale chart, Suzlon has finally succeeded in crossing the crucial ₹25.90 mark after almost 10 years and 9 months. This is a very good sign, and it suggests that the stock is entering a new bullish phase.
According to Fibonacci retracement, the stock's first target is ₹40.75, which is a very important level of 1.618. If the stock breaks above this level, it could then move towards ₹65.05, which is the 2.618 Fibonacci retracement level.
#Suzlon has recently formed a Descending Triangle Breakdown, breaching the critical support at ₹52. 🚨 This bearish pattern is coupled with a little increase in trading volume, signaling strong selling pressure.