Suzlon opened at ₹63.19 and traded at a high of ₹66.15 and a low of ₹ 62.29 closing at ₹ 65.41. This decline follows significant market activity, with over 11 million shares traded on the Bombay Stock Exchange (BSE), indicating notable investor participation.
Today’s performance may lead to short-term fluctuations, with technical analysis revealing key support and resistance levels. Immediate resistance levels are noted at ₹66.76, ₹68.03 and ₹68.76. Conversely, support levels are observed at ₹64.76, ₹64.03, and ₹62.76, which could play a crucial role in determining the stock’s near-term direction.
The volume of trading in Suzlon has been quite less compared to trading yesterday, down by 38.82%. This means low trading volume and is thus usually taken to be a sign of investors being bearish, or waiting for more data.
From the technical point of view, the medium-term chart of Suzlon echoes bullish signs in the short term and bearish in the long run.
Analysts continue to hold a positive view of Suzlon and currently have a consensus recommendation for the company’s stock of ‘Buy’. This puts their average target for the next 12 months at ₹80.00, indicating an upside of roughly 21.0% from present levels.
The maximum price prediction has been given by the analysts of ₹82.00 and so the positive outlook for Suzlon’s stock for the next year has been bolstered.
Even though the stock declined by 1.12% today, there are certain technical support levels depicted in the performance chart of Suzlon Energy Share and the research forecasts a positive medium-term trend on this stock. It would be advisable to keep a vigilant eye on the stock in the next few days in an attempt to identify the possibilities available.