Suzlon Energy shares break out of falling channel pattern, rally likely in medium term
Suzlon Energy share price: Suzlon Energy stock is in a medium-term bullish trend, trading above its 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day simple moving averages.
- Jun 23, 2026,
- Updated Jun 23, 2026 1:18 PM IST
Suzlon Energy share price: Shares of Suzlon Energy are in a short-term uptrend, logging 53% gains from their 52-week low of Rs 38.17 reached on March 9, 2026. The renewable energy stock had been consolidating within a falling channel pattern, according to an analyst. The stock last week, delivered a decisive breakout from this channel.
A falling channel pattern is a chart pattern in technical analysis. It is defined by two parallel, downward-sloping trendlines. The channel signals a steady fall in an asset's price, showcased by a series of lower highs and lower lows.
In terms of technicals, Suzlon Energy stock is in a medium-term bullish trend, trading above its 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day simple moving averages.
The RSI of the stock stands at 65, indicating the stock has approached the overbought zone.
Here's a look at what analysts said on the outlook of the renewable energy stock.
Jigar Patel from Anand Rathi said, "Support is placed at Rs 58, while resistance stands at Rs 60. A decisive breakout above Rs 60 could open the door for further upside towards Rs 63. For the short term, the stock is expected to trade within the Rs 58-63 range.
Rajesh Bhosale - Technical Analyst at Angel One said, "Suzlon has spent the last couple of years consolidating within a falling channel pattern. The breakout suggests the possibility of a medium-term upmove, with the stock likely to target the Rs 70–75 zone over the next six months. Additionally, the recent price action has led to a flag pattern breakout, further reinforcing the positive outlook. On the downside, the Rs 50–52 zone is expected to act as a strong support area, and any corrective dip towards this region could attract fresh buying interest."
Virat Jagad Sr. Technical Research Analyst at Bonanza said, "Suzlon Energy is showing a strong recovery trend and is currently consolidating near the crucial resistance zone of Rs 60–61.50. The stock is trading above its 20, 50, 100 and 200-day EMAs, indicating a sustained bullish structure, while recent price action suggests accumulation after a sharp upmove. Volumes remain supportive, reflecting continued investor interest. RSI is around 65 and trending higher, indicating positive momentum without entering extreme overbought territory. Fresh positions can be considered on a sustained breakout above Rs 61.50 or on dips towards Rs 58.50–59.00, with targets of Rs 65.00, Rs 68.00 and Rs 72.00, keeping a stop loss at Rs 56.50 on a closing basis. Investors already holding the stock may continue to hold with a trailing stop loss at Rs 58.00, while maintaining Rs 56.50 as the key positional stop loss; the bullish outlook remains intact as long as the stock sustains above these levels."
In the current session, Suzlon Energy stock was trading 1.70% lower at Rs 58.30. Market cap of the multibagger stock stood at Rs 80,091 crore.
About Suzlon Energy
Suzlon Energy is a provider of renewable energy solutions. The company is a producer of wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management.
Suzlon Energy share price: Shares of Suzlon Energy are in a short-term uptrend, logging 53% gains from their 52-week low of Rs 38.17 reached on March 9, 2026. The renewable energy stock had been consolidating within a falling channel pattern, according to an analyst. The stock last week, delivered a decisive breakout from this channel.
A falling channel pattern is a chart pattern in technical analysis. It is defined by two parallel, downward-sloping trendlines. The channel signals a steady fall in an asset's price, showcased by a series of lower highs and lower lows.
In terms of technicals, Suzlon Energy stock is in a medium-term bullish trend, trading above its 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day simple moving averages.
The RSI of the stock stands at 65, indicating the stock has approached the overbought zone.
Here's a look at what analysts said on the outlook of the renewable energy stock.
Jigar Patel from Anand Rathi said, "Support is placed at Rs 58, while resistance stands at Rs 60. A decisive breakout above Rs 60 could open the door for further upside towards Rs 63. For the short term, the stock is expected to trade within the Rs 58-63 range.
Rajesh Bhosale - Technical Analyst at Angel One said, "Suzlon has spent the last couple of years consolidating within a falling channel pattern. The breakout suggests the possibility of a medium-term upmove, with the stock likely to target the Rs 70–75 zone over the next six months. Additionally, the recent price action has led to a flag pattern breakout, further reinforcing the positive outlook. On the downside, the Rs 50–52 zone is expected to act as a strong support area, and any corrective dip towards this region could attract fresh buying interest."
Virat Jagad Sr. Technical Research Analyst at Bonanza said, "Suzlon Energy is showing a strong recovery trend and is currently consolidating near the crucial resistance zone of Rs 60–61.50. The stock is trading above its 20, 50, 100 and 200-day EMAs, indicating a sustained bullish structure, while recent price action suggests accumulation after a sharp upmove. Volumes remain supportive, reflecting continued investor interest. RSI is around 65 and trending higher, indicating positive momentum without entering extreme overbought territory. Fresh positions can be considered on a sustained breakout above Rs 61.50 or on dips towards Rs 58.50–59.00, with targets of Rs 65.00, Rs 68.00 and Rs 72.00, keeping a stop loss at Rs 56.50 on a closing basis. Investors already holding the stock may continue to hold with a trailing stop loss at Rs 58.00, while maintaining Rs 56.50 as the key positional stop loss; the bullish outlook remains intact as long as the stock sustains above these levels."
In the current session, Suzlon Energy stock was trading 1.70% lower at Rs 58.30. Market cap of the multibagger stock stood at Rs 80,091 crore.
About Suzlon Energy
Suzlon Energy is a provider of renewable energy solutions. The company is a producer of wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management.