Suzlon Energy shares on a bull run with 30% gains, here's what analysts say

Shares of Suzlon Energy are amid a bull run with the renewable energy stock rallying 30% since May 9 this year. The rally comes ahead of the firm's Q4 and fiscal year results set to be announced on May 29. The Suzlon Energy stock, which ended at Rs 52.63 on May 9, hit a high of Rs 68.50 in the current session, rising 30% during the period.  

With the current bull run, the renewable energy stock has risen 53.06% from its 52-week low of Rs 43.50 reached on May 28, 2024. The multibagger stock rose 564% in two years and gained 2,462% in five years. 

In the current session, Suzlon Energy stock was trading 1.5% higher at Rs 66.39 on BSE. Market cap of the multibagger stock rose to Rs 90,614 crore. The green energy stock saw a turnover of Rs 140.80 crore as 209.99 lakh shares changed hands on BSE today. 

The stock is trading near the overbought zone with its RSI at 69.1. An RSI above 70 signals a stock is trading in the overbought zone. 

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.

Ameya Ranadive, Chartered Market Technician, CFTe, Sr Technical Analyst, StoxBox is bullish on the outlook of the stock. 

"Suzlon Energy is trading strong at Rs 66.55, continuing its bullish momentum with a steady rise in volumes. The stock recently broke past its consolidation zone near Rs 60 and is now approaching a crucial resistance in the Rs 69–70 zone. A decisive breakout above this level could trigger the next leg of the rally, potentially attracting strong follow-through buying. Indicators are supportive—RSI is in bullish territory near 72, ADX shows strengthening trend momentum, and MACD has turned positive. With multiple buy signals already triggered and price holding above key moving averages, the setup favors further upside. Traders should watch for a clean breakout above Rs 70 for confirmation of upward traction. However, the bullish view would be negated on a close below Rs 60, which would indicate a potential failure of the current breakout attempt. Until then, dips may be seen as buying opportunities," said Ranadive. 

A R Ramachandran, SEBI registered Independent analyst says, "Suzlon Energy is bullish on the Daily charts but also overbought with next resistance at Rs 68. Investors should be booking profits as a Daily close below support of Rs 61 could lead to a target of Rs 51 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.