Suzlon Energy, Adani Ports, Tata Steel: Trading strategies for these 3 buzzing stocks

Suzlon Energy, Adani Ports, Tata Steel: Trading strategies for these 3 buzzing stocks

An analyst from Arihant Capital is observing rounding base pattern formation on the daily chart of Adani Ports, which is sign of strength, with the momentum indicator MACD is positively poised.

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On the daily charts of Suzlon Energy, we are observing a double bottom formation. At present, the stock is retracing the previous rise, said the analyst.On the daily charts of Suzlon Energy, we are observing a double bottom formation. At present, the stock is retracing the previous rise, said the analyst.
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Pawan Kumar Nahar
  • May 27, 2024,
  • Updated May 27, 2024 7:36 AM IST

Indian benchmark indices settled marginally changed, slightly lower, on Friday after hitting new highs for the day. Global sentiments remained subdued as the recent US FOMC minutes suggest a continued hawkish stance on policy rates. BSE Sensex shed merely 7.65 points, or 0.01 per cent to settle at 75,410.39. NSE's Nifty50 index declined 10.55 points, or 0.05 per cent, to end the session at 22,957.10. On the daily charts of Suzlon Energy, we are observing a double bottom formation. At present, the stock is retracing the previous rise. However, the trend remains up and stock has support at Rs 43 – 41 level. Further, we are observing that the stocks are outperforming the benchmark indices. Hence, one can hold the stock at current price with a stop loss of Rs 38 for the targets of Rs 59 – 66 levels in the next couple of weeks.  

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Indian benchmark indices settled marginally changed, slightly lower, on Friday after hitting new highs for the day. Global sentiments remained subdued as the recent US FOMC minutes suggest a continued hawkish stance on policy rates. BSE Sensex shed merely 7.65 points, or 0.01 per cent to settle at 75,410.39. NSE's Nifty50 index declined 10.55 points, or 0.05 per cent, to end the session at 22,957.10. On the daily charts of Suzlon Energy, we are observing a double bottom formation. At present, the stock is retracing the previous rise. However, the trend remains up and stock has support at Rs 43 – 41 level. Further, we are observing that the stocks are outperforming the benchmark indices. Hence, one can hold the stock at current price with a stop loss of Rs 38 for the targets of Rs 59 – 66 levels in the next couple of weeks.  

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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