Suzlon Energy shares break below key SMAs; should you buy the dip or wait?

Shares of Suzlon Energy Ltd continued to fall for the third consecutive session on Thursday, slipping 1.12 per cent to close at Rs 56.33. At this closing price, the stock has declined 13.78 per cent on a year-to-date (YTD) basis.

A few analysts advise caution on the stock in the near term, pointing to support in the Rs 52–54 zone and resistance around Rs 59–60. However, a breakout above Rs 60 may push the stock toward Rs 62, though it is currently expected to trade sideways within this range.

"The stock's technical setup does not look encouraging at the moment and investors eyeing fresh entries are advised to wait for some time. Key support is placed at Rs 52, while resistance is seen around Rs 59," said Ravi Singh, Senior Vice-President, Retail Research at Religare Broking.

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, pointed out support near Rs 54 and resistance at Rs 60. He added that a breakout above Rs 60 could pave the way toward Rs 62, with the stock likely to remain in the Rs 54–62 band in the near term.

The counter traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 30.74. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The scrip has a price-to-earnings (P/E) ratio of 42.67 against a price-to-book (P/B) value of 19.83. Earnings per share (EPS) stood at 1.32 with a return on equity (RoE) of 46.50. According to Trendlyne data, Suzlon has a one-year beta of 1.4, indicating high volatility.

Suzlon Energy is a leading renewable energy solutions provider, primarily engaged in the manufacturing of wind turbines and offering a wide array of solar energy services, including project planning, installation and asset management. As of June 2025, promoters held an 11.74 per cent stake in the company.