The stock price of the stock arrow extends in Suzlon, which is the support of 50 threatened rupees
- Suzlon Energy got a 50 -megawatled wind farmers, but this did not prevent its stock from slipping. What is behind the decline?
Energy Suzlon shares are trading down, with a momentum threatening to violate 50 rupees. The shares are most likely to continue to work by the formation of a dual -style that is located the neck line near the 50 -racket mark on the daily chart.
The RSI is located on the arrow at 39 to this writing with the price with less than 20, 50, 100 and 100 days of SIA levels (EMA) to confirm the prevailing domination. In addition, Bolinger ranges expand, indicating an increase in volatility. This setting raises the possibility of the collapse of the energy share price in Suzzon less than the 50 Rural support.
In a positive note, the company has just revealed that it won a contract to build two wind power plants of 50 megawatts for the state -owned Pahrat Petroleum Company (BPCL). This contract is a valuable addition to the strong request book for Suzlon Energy and two wind farms are scheduled to be completed within two years.
However, the company’s shares are likely to continue trading down as the broader market morale remains down. Energy shares are generally under pressure as investors get profits and expenses on huge renewable energy projects. The price of the Bollinger Lower shares is at the price of the suzlon 50.53 share on the daily chart, and the partition will boost down this declining momentum.
Power price forecasts in Suzlon
The momentum indicates that the price of energy shares in Suzlon indicates that the downside is likely to prevail with the continuation of the resistance at 53.00 rupees. This first support will be witnessed at 52.30 rupees. The controlled control element by sellers will lead to a decrease in the procedure, as the second support is likely to be created at 51.80 rupees.
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On the other hand, a fracture above 53.00 rupees will invite buyers to control. In this case, the procedure can rise up and face the first barrier at 53.50 rupees. However, a stronger upward batch will violate that mark and nullify the narration of the negative side. In addition, the resulting momentum can send the share price up to 54.10 rupees.
