1 hr ago
Suzlon Energy Nears 52-Week Low as Oversold Signals Emerge
Suzlon Energy’s share price has been falling and is close to its 52-week low.
The stock is trading below several important moving-average lines.
These signals suggest that sellers currently have more control.
Virat Jagad said the price may find support between Rs 37 and Rs 38.
He said a strong reversal, higher trading volume, and improving RSI could lead to a rebound.
Laxmikant Shukla gave the stock a buy call while identifying Rs 35 as support and Rs 40 as resistance.
However, Shukla also warned that the overall trend remains bearish.
He said the stock would need to rise above Rs 46–49 to show a clearer change in direction.
Suzlon Energy is in a bearish trend and trades below its 10-day through 200-day simple moving averages.
Virat Jagad identified weekly support around Rs 37–38 and said a reversal could trigger a bounce if volume and RSI improve.
Laxmikant Shukla issued a buy call, citing Rs 35 support and Rs 40 resistance.
Shukla said the stock’s lower highs and lower lows reflect sustained selling pressure.
Shukla said a decisive move above Rs 46–49 would be needed to signal a possible trend change.
- Who
- Suzlon Energy, along with technical analysts Virat Jagad of Bonanza Portfolio and Laxmikant Shukla of YES Securities.
- What
- Suzlon Energy shares are showing a bearish trend near their 52-week low, while analysts identify potential support, resistance, and reversal levels.
- Where
- The analysis concerns Suzlon Energy’s stock market trading.
- When
- At the time of the report.
- Why
- The stock has recorded lower highs and lower lows and trades below its 10-day through 200-day simple moving averages, indicating sustained selling pressure.
Potential rebound
Continued downside risk
Near-term price direction
Potential rebound
Virat Jagad said the stock could bounce from Rs 37–38 if a strong reversal candle forms with improving volume and RSI recovery. Shukla also identified support levels and issued a buy call.
Continued downside risk
Shukla said the stock remains under sustained selling pressure, with lower highs and lower lows, and that failure to recover from around Rs 38 could lead to renewed downside.
Evidence of a trend change
Potential rebound
A recovery from support, supported by stronger volume and improving RSI, could indicate renewed buying interest.
Continued downside risk
Shukla said only a decisive breakout above the Rs 46–49 resistance zone would signal a potential shift in the prevailing bearish trend.
Key facts
- Trend
- Bearish, with the stock below its 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages.
- Weekly support
- Rs 37–38, according to Virat Jagad.
- Additional support
- Rs 35, according to Laxmikant Shukla.
- Near-term resistance
- Rs 40, according to Shukla.
- Major resistance zone
- Rs 46–49; a decisive breakout could signal a trend shift.
- Possible rebound signals
- A strong reversal candle near support, improving volume, and RSI recovery.
- Company business
- Suzlon Energy provides renewable energy solutions and produces wind turbines.
Quotes
Laxmikant Shukla
Technical Research Analyst at YES Securities
“Major support is placed around Rs 37–38 on the weekly chart. The stock is currently under pressure, but if a strong reversal candle forms near this support zone with improving volume and RSI recovery, we may see a bounce-back from these levels.”
businesstoday.in
“Suzlon continues to reflect a dominant bearish trend, characterized by a consistent pattern of lower highs and lower lows, indicating sustained selling pressure.”
businesstoday.in
Sources
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