- Summary:
- Suzlon Energy has witnessed remarkable price action recently, driven by solid market optimism and a surge in renewable energy interest.
Suzlon Energy has witnessed remarkable price action recently, driven by solid market optimism and a surge in renewable energy interest. After a steady climb, the stock reached a high of ₹86, where it encountered significant resistance. The pullback to ₹80.74 reflects profit-taking, but overall sentiment remains bullish as the broader market positions for further upside.
Suzlon Key Resistance
The ₹86 level has emerged as a formidable barrier, with the stock struggling to break through. Several attempts to breach this level have been met with selling pressure, indicating that traders are cautious at these highs. However, the fact that Suzlon continues to trade near this zone suggests that market participants await a clear breakout signal. If the stock closes above ₹86 on high volume, it could ignite further buying momentum.
Suzlon Key Support Levels
Suzlon’s current retracement brings attention to the support at ₹73.70. In recent sessions, this level has held firm, acting as a safety net for bulls looking to add positions on dips. Should the stock retrace further, the next critical support lies at ₹56.10, a region that previously sparked renewed buying interest during its upward climb.
