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.
Sectorally, buying was seen in FMCG, banks, healthcare, and energy stocks while some profit-taking was seen in IT, power, and capital goods stocks. Stocks that were in focus include names like Suzlon Energy, which rose 5%, PNC Infratech closed nearly 2% higher and Polycab India closed with gains of over 9% on Thursday.
Suzlon Energy share price jumped around 17% on Wednesday to hit a 52-week high of Rs 14.35 apiece. The stock settled over 8% higher in the previous session. Watch this Visual Story to check what is driving the rally in this multibagger penny stock.
Suzlon Energy share price: Analysts largely observed that the counter could be "in demand till it sustains above Rs 10.40." One analyst felt that the stock may move up to Rs 19 while another suggested an uptrend till Rs 13.6 mark.