Suzlon Share Price Forecast: Breakout or Pullback Ahead?

Summary:
• The stock has recently faced resistance around ₹86, but it remains well above its key support levels of ₹73.70 and ₹56.10.

Suzlon Energy’s share price is currently trading at ₹82.79 as of writing. The stock has recently faced resistance around ₹86, but it remains well above its key support levels of ₹73.70 and ₹56.10, as seen in the attached price chart.

Key Factors Contributing To The Surge in Suzlon’s Share Price

Suzlon Energy‘s share price increase: – Strong Q1FY25 Results: Suzlon reported a 200% increase in net profit and a 50% growth in revenue, significantly boosting investor confidence.

Debt Reduction: The company has made substantial progress in reducing its gross debt, improving its financial stability

Expanding Order Book: With a robust pipeline of orders, including 3.31 GW of unexecuted orders, Suzlon is positioned for steady growth.

Government Policy Support: India’s push for renewable energy, including plans for 10 GW of wind energy tenders annually, has created a favourable environment for Suzlon.

Suzlon Key levels to watch

Support: The nearest support level is around ₹73.70. This level has acted as a critical support zone and should be monitored for any pullbacks.

Resistance: The stock faces resistance around ₹86.00, which it recently tested but failed to break above. A successful break past this level could indicate further bullish momentum.

Conclusion

With industry tailwinds, a firm order pipeline, and improving financials, Suzlon Energy’s share price remains one of the most watched stocks in renewable energy. Investors are optimistic about its long-term growth potential, especially as the company eyes new tenders and increases its serviceable capacity in the coming years.