Suzlon Energy shares fall 28% from 52-week high: Price targets, stop loss, technicals and more 

Suzlon Energy share price today: Shares of multibagger Suzlon Energy have declined 28% from their 52 week high in over two months. Suzlon Energy shares, which hit a 52 week high of Rs 86.04 on September 12, 2024 closed at Rs 62.35 on BSE on November 19, 2024. The green energy stock closed almost 5% higher at Rs 62.35 on Tuesday against the previous close of Rs 59.40 on BSE. It hit an upper circuit of 5% in the same session, third in a row sending the stock above Rs 60 mark after four sessions.

In the previous session, Suzlon Energy stock closed 4.97% higher at Rs 62.35 on BSE. The renewable energy stock touched an intra day high of Rs 62.37 on Tuesday. Market cap of the green energy firm rose to Rs 85,084 crore on BSE. Suzlon Energy stock has climbed 47.50% in a year and gained 670% in two years. The multibagger stock saw the second highest turnover of Rs 163.70 crore as 263.59 lakh shares changed hands on BSE in Tuesday's session.

Suzlon Energy shares have a beta of 1.1, indicating high volatility in a year.

Shares of Suzlon Energy are trading lower than their 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 5 day, 150 day and 200 day moving averages.

Here's a look at what analysts and brokerages said on the prospects of the stock.

Ameya Ranadive CMT CFTe, Sr Technical Analyst, StoxBox said, " The stock appears to be in an oversold zone, with the Relative Strength Index (RSI) at 35, indicating potential for a reversal. Additionally, the stock is hovering near a strong support zone at  Rs 55-Rs 54, presenting a favorable risk-reward setup. Suzlon can be considered for buying at current levels, with a stop loss placed at Rs 51.5 and an upside target of Rs 72."

Jigar S Patel, manager at Anand Rathi said, "Support will be at Rs 53 and resistance at Rs 66. A decisive move above the Rs 66 level may trigger a further upside of Rs 70. The expected trading range will be between Rs 53 to Rs 70 for the short-term."

Brokerage Geojit has maintained its buy rating on the stock with a price target of Rs 68.

"With the ROE expected to expand to 25% by FY27E, we believe Suzlon’s story is only developing. Recent order wins indicate preference for the turbine manufacturer among state, PSU, and C&I clients, and recent acquisition of Renom Energy can enable tapping into over 32GW of non -Suzlon O&M opportunities. Recent correction places the stock at attractive valuations. We value at 45 times on September 2027 EPS of Rs 1.5, setting a target of Rs 68, and maintain our BUY rating," said the brokerage.

Mandar Bhojane, Equity Research Analyst at Choice Broking said, "The recent low around Rs 53.45 is acting as a support level, where some buyers are stepping in. If Suzlon falls below this support, it could continue its downtrend. But if the stock breaks above the resistance at the 20-day and 50-day EMAs, it might move toward Rs 66, which would be a stronger recovery sign. A stop loss could be placed at Rs 53 to limit downside risk, while the target is set at Rs 66 & Rs 70, aligning with the resistance level near the 20-day EMA."
 
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.