Suzlon Energy Share Price Target: Shares of Suzlon Energy continue to face selling pressure, with the stock extending its corrective phase across multiple
time horizons. The BSE 100 stock has declined about 7 per cent over the past month, 16 per cent in six months, 19 per cent year-to-date, and around 18 per cent over the past year. Given this performance, an market expert cautioned that the renewable energy stock remains in a downtrend and advise investors to consider exiting on any near-term rebound. In a conversation with ET Now Swadesh, Harish Jujarey, AVP and Head – Technical Equity Research at Prithvi Finmart, said Suzlon has been in a sustained decline since June, with prices falling from around Rs 72 to nearly Rs 51.
Suzlon Energy shares: Technical outlook
According to Jujarey, Suzlon Energy is currently trading close to a key support zone of Rs 50–47, a level from which the stock has historically seen short-term rebounds. However, the broader technical structure continues to remain weak.
“The stock has been in a consistent downtrend and is also undergoing prolonged consolidation. While there can be minor pullbacks from support levels, a strong trend reversal may take time,” he said.
Short-term vs long-term view on Suzlon shares
From a short-term perspective, the expert advised investors to use any price rise as an opportunity to exit the stock. Key resistance levels for Suzlon Energy are placed at Rs 55 and Rs 57, which also coincide with important technical indicators, including the 200-day moving average.
“If the stock moves towards these resistance levels, investors can consider booking profits and exiting their positions,” Jujarey added.
What should long-term investors do now?
For long-term investors, he suggested a cautious approach, noting that Suzlon Energy shares have a history of remaining in consolidation for extended periods before meaningful reversals emerge.
Key levels for Suzlon Energy stock
- Key support zone: Rs 50–47
- Key resistance levels: Rs 55–57
Given that the stock is currently trading close to the average buy price for many retail investors, market participants may consider reallocating capital to stocks with stronger momentum and clearer trend visibility, the expert said.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
