Near-term technical outlook remains fragile, but the analyst sees medium-term potential toward ₹75–₹80 if earnings momentum sustains.
Suzlon Energy is showing technical fragility, cautiously holding above ₹60 ahead of its June quarter earnings print on Tuesday.
SEBI-registered analyst Deepak Pal said that Suzlon remains a strong bet fundamentally, driven by its debt-free status, a growing order book, and profit turnaround. However, he cautioned for some volatility around its Q1 results announcement.
At the time of writing, Suzlon shares traded over 2% higher on Monday.
Technical Outlook
On its weekly chart, Suzlon stock is trading just above the 50-day Exponential Moving Average (EMA) of ₹60–61, but showing signs of weakness with a bearish candle and Parabolic SAR dots above the price.
The Moving Average Convergence Divergence (MACD) is positive but flattening, while its Relative Strength Index (RSI) at 51 indicates neutral momentum.
Pal identified a key support zone between ₹60–61, with resistance at ₹68–71 (recent swing high). He believes that if the stock holds above ₹60, it could stabilize the price. A break above ₹68 would be bullish, while a fall below ₹60 may lead to ₹55–₹53.
What Should Investors Do?
Pal highlighted that sustained performance and strong bookings could pave the way for a recovery toward the ₹75–₹80 range over the medium term.
Long-term investors can consider holding or adding on dips, with an eye on the ₹75–₹80 target range over the next 3–6 months if momentum sustains.
What’s Working For Suzlon?
Suzlon is now debt-free, a dramatic improvement from prior years, providing capacity for growth, according to Pal. In the last quarter, the company reported a threefold net profit jump, with strong order book improvements and stabilizing operations.
Order book stands robust, with recent wins including 170 MW from AMPIN and a significant 381 MW FDRE project from Zelestra.
Brokerage firm Motilal Oswal recently issued its highest-ever ₹82 target, citing strong execution, local manufacturing benefits, and order visibility.
The Green Push
India’s renewable energy sector is expanding rapidly: wind power contributes 10% to total installed capacity and is supported by aggressive government targets of 500 GW by 2030.
Pal noted that Suzlon, with 20.8 GW of global installations, is a leading renewable player enabling India’s green energy transition. The company’s market positioning benefits from favourable policies, rising domestic demand, and global ESG tailwinds.
Suzlon shares have risen 4% so far this year.
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