Suzlon Energy shares in a weak trend, key levels to watch before taking fresh positions 

Shares of Suzlon Energy are in a weak short-term trend, falling for five out of last six sessions. Suzlon Energy stock, a multibagger in the long term, has slipped 10% in a year and fell 7.23% in a week. Suzlon Energy stock is trading near the oversold zone, indicates its RSI at 37. This signals there are less buyers compared to the sellers on this renewable energy counter. 

Analysts are of the view that the stock is trading near the support zone of Rs 60. If it falls below this level, they see more downside  in the Suzlon Energy counter. 

Suzlon Energy stock closed 1% lower at Rs 61.21 on BSE today. Suzlon Energy's market cap stood at Rs 83,869 crore. 

The green energy stock clocked a turnover of Rs 24.29 crore as 39.59 lakh shares changed hands on BSE today. 

The multibagger stock rose 239% in two years and gained 918% in three years. 

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

Jigar S Patel from Anand Rathi said," Support will be Rs 60 and resistance at Rs 62.50. A decisive move above the Rs 62.5 level may trigger a further upside of Rs 65. The expected trading range will be between Rs 59 and Rs 65  for the short-term."

Drumil Vithlani, Technical Research Analyst  at Bonanza Portfolio  said, "Suzlon Energy is currently testing a crucial support zone around Rs 60, which previously acted as a breakout level. The RSI is hovering near 40, close to oversold territory, and attempting a reversal, indicating that bearish momentum may be weakening. Additionally, the ADX has started to rise, pointing to a potential change in trend dynamics after a phase of price correction. The stock is at a technical inflection point. A sustained hold above Rs 60 can attract buying interest for a move toward Rs 64 initially and Rs 66 next. On the downside, a close below Rs 60 may invite further weakness toward Rs 56. Traders should watch price action around this level closely before taking fresh positions."

A R Ramachandran, SEBI registered Independent analyst says, "Suzlon Energy stock price is slightly bullish on the Daily charts with strong support at Rs 59.6. A Daily close above resistance of Rs 63 could lead to targets of Rs 69-72 in the near term."

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.