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Short term traders can look to buy the stock now as the momentum is likely to continue which could take the stock to fresh 52-week highs of 240-280 levels, suggest experts.
Suzlon Energy is currently demonstrating a strong momentum, as it is trading around its 52-week high. A consolidation breakout on the daily timeframe suggests a continuation of upward trend.
OctaFX experts take a deep dive into the realm of trading strategies to form a guide for traders in 2023.
The stock rose from Rs 228 as of 30 August 2023 to Rs 297 which is the record high registered on 29 September 2023. The upside translates into a rally of about 30% in a month.
Short to medium-term traders can look to buy the stock for a target of Rs 5650 in the next 1-2 months, they say.