Suzlon Energy shares in correction mode, can they resume bull run?

Shares of Suzlon Energy have been in the correction mode for the last eight months. In fact, the renewable energy stock has slipped 28% from its 52-week high of Rs 86.04 reached on September 12, 2024. The multibagger stock, which rose 627% in two years and 2,465% in five years has slipped 5.39% in 2025 and fallen 1% in six months. 

Ajit Mishra – SVP, Research, Religare Broking said , "Suzlon has seen a remarkable rally from around Rs 11 to Rs 86 during its previous uptrend between June 2023 and September 2024. Over the last three months, the stock has formed a base around the Rs 46 level after retesting the support zone near its medium-term moving average 100-week EMA. Additionally, it has reclaimed all its major moving averages and now appears poised to resume its uptrend. Participants may consider accumulating fresh positions, with a closing stop loss at Rs 56, targeting an upside potential of Rs 68– Rs 72 levels."

Om Mehra, Technical Research Analyst, SAMCO Securities said, "The stock is currently approaching towards a critical resistance zone of Rs 62– Rs 63, which has acted as a strong hurdle in the past. After a prolonged corrective phase, the stock has gradually stabilised and is now attempting to inch higher. The stock is sustaining above the 9 EMA and 20 SMA, indicating near-term strength. The RSI has moved closer to the 60-65 zone, reflecting improving momentum  and without entering extreme overbought territory. The ADX itself shows signs of strengthening with the +DI crossing above the -DI, while the ADX line itself is picking up, suggesting a potential build-up of a fresh trend.

The volume is ticking up with the surge in price, leading to additional confirmation to a bullish outlook. A decisive breakout above Rs 63 could lead to a rally toward the next resistance at Rs 68, followed by Rs 74. On the downside, immediate support is placed around Rs 57, with a strong base near Rs 53. Short-term traders may consider monitoring price action near Rs 63. A breakout and close above this level could offer a fresh long opportunity with a potential 10-15% upside. Risk should be managed with a stop-loss below Rs 56 on a closing basis."

In the current session, Suzlon Energy stock was trading 0.83% higher at Rs 61.59 on BSE. Market cap of the multibagger stock rose to Rs 84,021 crore. The green energy stock saw a turnover of Rs 37.93 crore as 61.24 lakh shares changed hands on BSE today. 

Suzlon Energy shares have a beta of 1.3, indicating very high volatility in a year. 

Suzlon Energy stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

The multibagger stock hit a 52-week high of Rs 86.04 on September 12, 2024.  Suzlon Energy reported a 91% rise in Q4 net profit and clocked a 96% rise in net profit in Q3 of the current fiscal.  

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.