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News Topical, Digital Desk : Suzlon Energy's stock continues to rise strongly. The stock has risen 7 percent in one month and 9 percent in three months. The stock has fallen by -9 percent from January to May. At the same time, the stock has risen 44 percent in one year. The stock has risen 560 percent in three years.
On this whole matter, Anshul Jain, Research Head of Lakshmishree Investments told CNBC Awaaz that for the last three months, the stock has been consolidating in a wide range of ₹ 50.5 to ₹ 65. During this period, the stock tried to break down three times at the lower level, but each time the support level was strongly defended. This is an indication that buyers are now in control and an upward breakout is possible soon.
Volume Analysis: - An increase in volume has been seen in recent trading. This is a sign of institutional buying, which has strengthened the bullish bias. Technical Analysis
| scale | Situation |
|---|---|
| Range | ₹50.5 – ₹65 (from 3 months) |
| Breakdown Attempts | failed 3 times |
| Mid-range support | ₹57–₹59 |
| Target | ₹67 (if stays above the mid-range) |
Hint for investors- If the stock stays above ₹57, the trend will remain strong. If there is a closing breakout above ₹65, then a rally of ₹67+ can be seen in the next 2–3 weeks. The stop loss at the lower level should remain at ₹50.5.
Suzlon Energy is consolidating with a strong support zone, and the possibility of a breakout looks strong. Both volume and price action are confirming the uptrend.
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