Something is wrong with Suzlon... I can sense it.

Today they pulled it as down as 85.75 in NSE at opening while 91 was day's low in BSE. Volume has decreased and someone is trying to play with the chart and manipulate it... see the BIG bar today from 85-92 in one single day (7% price movement)

I got this SPECULATIVE NEWS... not asking you to bet.. one of my broker friend told me that some operator action is going to come in the scrip within 3-4 days and they are about to shoot up the price to break the resistance of 105 to drag it to all the way up to 15% where they might sell more stake...

Just what I heard, shared with you... anyone know about it?

Please do not consider this as speculation on my part, as I am already SHORT and expecting downside around 85-75.

bunny should put the detailed chart for suzlon and let us know all

i am viewing this site on my mobile, so will post the chart later. Anyways, NSE data is more reliable for analysis. But it is showing signs of strength on both BSE & NSE charts. Whether it will cross 105 cannot be told now, so use the supply line as your target if you are going long at this point.

I have read on monecontrol .com that suzlon is failing to repay its loan on decided dates may it is the reason for its fall

Couple of days ago there was a buy call on Suzlon at 95-96 levels with 105 as the target, dont know whether this connects with your theory or not just posting this as info.

"Showing Strength". I am struggling to find the sign of strengths on this chart of suzlon. Bunny, I know you are VSA, and Price Action follower.. So would appreciate if you can mention your reason for seeing strength there.

Thanks.
Happy Trading

23 Sep: The price is near a resistance line. The spread and volumes are not increasing which means that the resistance line will hold good. On this day, the price falls with wide spreads and high volume. This means determined selling effort by professionals.

24 Sep: The price continues to falls. The spread is narrower and the volume is also less when compared to the 23 Sep. This means that the professional selling pressure is reducing. This alerts us expect that the down move will end soon.

25 Sep NSE: The price opens in the direction of trend but recovers to close on the high of the day. Though one may argue that the volume is just average, actually it means that the selling pressure has almost disappeared. If price can close on high on average volumes, especially when there is selling in the background, this means that sellers is not selling into it.(In VSA, terminology, it seems as though its a shake-out. Others may call it a "key reversal bar" - but I not sure about it.)

25 Sep on BSE: Three continuous session of falling price on falling volumes. The spread is narrow, price closing on the high. Again, selling pressure is withering and you can expect the price to turn soon.

its SUZLON, do very wild moves sometimes, holding 200 shares at price of Rs. 102 and will sell it only after if it crosses 107 i.e around 5%

When promoters are selling, then you can understand what's happening !

Bunny, you are on the spot with this interpreation of price/volume action.
Let me bring in the dimension of timeframe here.
If I visualise weekly chart using by drawing imaginary bar with last 4 bars, then 4 bars of prev week and 5 bars of week before that.
Then we see last week showing red WRB. week before that was green doji and, prev week another red WRB.

If you move to volume bars.. then both red weekly wrb will show higher volume and doji is with low volume.

So at it depends on timeframe of our interest. Yes, we see strength on 1 bar, and infact that was already shown on 25th. So if we trade intraday, the you are taking contrarian position against the bigger timeframe (weekly) which is showing WRB with high volumes.

With opening near 85 on friday, it was right in the support zone and it is obvious that professionals will not sell in support zone. I can see professionals still waiting for daytrader/swingtrader/novice trader from shorter TF to bring the price back to 100 level
and sell their position. Look at what happened to suzlon whenever it tried to touch 100 in an attempt to go up and it got the slap by red WRB..

chart is already lower Swing tops.. Down trendline is intact, weekly making red WRB, MA showing the directionion of side to down.... all these factors are indicating weakness to me on bigger TF. As per the strength of friday, it might might make another attempt to 100, but 95 is hurdle before that.
So till we have clear trading of few bars beyond 100 to 80 zone. it is going no where.
infact bigger picture is getting red and red.

Just expressing my analysis of the chart. We both can have different view and still be right in our analysis.

As a trader, how we trade this, that is more important then intellectual satisfaction that we get from deciphering the chart.

Happy Trading.