Suzlon Energy Ltd (NSE: SUZLON) has been riding a wave, with the share price currently resting at 74.00 INR. The recent pullback has traders wondering if Suzlon can push beyond key resistance levels or if bears will tighten their grip. With the global spotlight on renewable energy, Suzlon remains one to watch.
Immediate Support: 73.02 INR A dip below this level could signal further weakness.
Key Resistance: 80.41 INR – The bulls need a clean break here for any real upside.
Other Levels to Watch: – 65.71 INR – A safety net if the price drops further.
86.00 INR – An ambitious target if buying momentum accelerates.
Suzlon has been on an impressive run, fueled by a global push toward cleaner energy. Investors are increasingly focused on renewable players like Suzlon, which has expanded its wind energy footprint. However, with recent profit-taking, the stock is testing its resilience. Still, Suzlon’s commitment to sustainability and green technology could be the ticket for future gains, making it a potential gem in the renewable sector.
For now, Suzlon needs to hold above 73.02 INR to avoid a deeper retracement. If it can maintain this level, a run toward 80.41 INR could be in play. With renewable energy trends gaining traction, Suzlon’s next move might just surprise the market. Keep an eye on these levels because this one could be far from over.
This post was last modified on Oct 14, 2024, 11:49 BST 11:49