Suzlon Energy Ltd:  Positive Build-up on Charts

Now when the large caps are expected to move in Sideways, the investments in small and mid cap counters gain prominence. Suzlon  Energy Ltd (CMP: Rs.18.65) is an established name in the renewable energy sector, which falls  under the category of small cap. The company's worrisome past is now a history, as the 5 th largest wind  power company is going for a Corporate Debt Restructuring process. 
Recently,  Suzlon Group subsidiary, REpower Systems SE, concluded a contract with wpd europe GmbH, a subsidiary of project developer wpd AG, for the delivery of a total of 51 wind turbines. As part of this, a service and maintenance agreement (ISP) for a total of 15 years for the new projects was also concluded. The REpower MM92 turbines, each with a rated power of 2.05 megawatts (MW), are intended for a total of six projects, Whittington, Springwood, White Pines, Napier, Sumac Ridge and Fairview, to be constructed and commissioned in 2014. In order to serve its growing business presence in Canada and to meet the 50 % domestic content requirement of the Green Energy Act, REpower also announced to setup a new rotor blade manufacturing facility in Southern Ontario.

Chartically speaking, the scrip has closed above its 50, 100 and 150 DEMAs. Also, after a long time cross-over  has taken place. Moreover, RSI, MACD and Mass Index is in buy mode. The corrective phase in the scrip is over and it should move  towards the next target of Rs.31-32.