Suzlon Price Prediction: Can the Rally Continue After Morgan Stanley Upgrade?

Summary:
• Suzlon Energy price prediction: Morgan Stanley sets a ₹71 target as Suzlon rides India's green energy boom with 670% growth over two years.

Suzlon Energy Ltd. (NSE: SUZLON) continues to gain traction in the stock market, recently hitting ₹62.22 after a bullish upgrade by Morgan Stanley. With a revised price target of ₹71, Suzlon’s upward momentum reflects its strong market positioning and positive industry outlook. Let’s explore the technical levels and what lies ahead for Suzlon Energy.

Chart Analysis: Key Support and Resistance Levels

• Current Price: Suzlon is trading at ₹62.22, maintaining bullish momentum after a 5% surge.
• Key Resistance Levels:
  • ₹64.50: Immediate resistance, with a breakout signalling further upside.
  • ₹71.00: The upgraded price target by Morgan Stanley, a critical psychological level.
• Key Support Levels:
  • ₹60.00: Immediate support, aligning with recent consolidation.
  • ₹56.50: A stronger secondary support zone that previously acted as a demand level.

Outlook for Suzlon Energy

The bullish sentiment around Suzlon Energy stems from its significant gains year-to-date, with the stock delivering over 670% returns in two years. Suzlon continues to capitalize on the green energy boom in India, reinforcing its long-term growth prospects.

For traders, the ₹64.50 level will be pivotal. A breakout could propel Suzlon closer to the ₹71 target, while a pullback might test support at ₹60 or ₹56.50.