Shares of Suzlon Energy Ltd. have shown a strong recovery in recent sessions, bouncing off the crucial 200-day Simple Moving Average (SMA) on the daily charts. This technical development, coupled with increased trading volumes and a positive RSI, points toward a continuation of the bullish trend in the near term.
Key Technical Highlights
- Support at 200-Day SMA: The stock recently tested and held the long-term 200-day SMA level, which acted as a solid support zone.
- Volume Surge: The rebound was accompanied by a noticeable uptick in volumes, reflecting renewed investor interest and participation.
- RSI Turnaround: The Relative Strength Index (RSI), a key momentum indicator, is now trending upwards and indicates strengthening buying momentum.
- Outperformance vs. Benchmarks: Suzlon has begun outperforming broader market indices like the Nifty 50 and BSE Power Index, highlighting its relative strength in a consolidating market.
Price Outlook and Trading Strategy
At the current market price of approximately ₹65, technical indicators suggest that Suzlon Energy may continue its upward trajectory. Analysts believe the stock has the potential to test the ₹77–₹83 range over the next couple of weeks, provided market conditions remain favorable.
Recommended Trading Setup:
- Entry Zone: Current Market Price (₹65 as of August 4, 2025)
- Stop Loss: ₹59 (below recent support levels)
- Target Range: ₹77–₹83
- Timeframe: 2–3 weeks
What’s Fueling Optimism?
Apart from the technical setup, investor sentiment in renewable energy stocks remains robust amid growing focus on sustainable energy and India’s aggressive clean energy goals. Suzlon, being a key player in wind energy solutions, continues to benefit from the sectoral tailwinds and government policy support.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making any investment decisions. Stock markets are subject to risks and past performance is not indicative of future returns.