suzlon share today rallied almost 17% on both bse and nse and todays top gainer.stock is favorite of many traders and many traders lost ton of money in this stock since last 5 years.
from 2008 top stock is down almost 96% while as compared to start still down as start was at 27 rupee with spilt/bonus adjustment as my data shows.so real loser share those wiped out many small investors from market!!
on above historical chart we can see in 2008 crazy rally in 1 month stock soared from 72 to 417 and in crash tumbled to 33 rupee at end of 2008.
in 2012 stock hit its all time low at 14.8 and that was recent bottom on chart.as today on positive new flow stock given sharp buying as well as short covering rally.
on charts,for 2013,22 rupee is major hurdle on monthly closing basis.if stock cross that as now reached near it then first medium term upside target will be 29.5 and then 40 in bullish environment.
as still trading below 22 so outlook remain bearish and on downside for 2013 supports or downside targets are 12 and 5.
while for short term traders those who long in stock 19 rupee remain major support for month of jan.