Suzlon Energy shares surge 37% from 52-week low; is the stock gearing up for further upside?

Shares of Suzlon Energy Ltd ended 0.87 per cent lower on Monday at Rs 52.48, even as the stock continues to stage a sharp recovery from its recent lows. The counter has risen 37.49 per cent from its 52-week low of Rs 38.17, which it hit on March 9 last month.

Market participants remain largely mixed on Suzlon's outlook. Kranthi Bathini, Equity Strategist at WealthMills Securities, said, "Investors holding the stock can continue with their positions and wait for the upcoming results. There is a lot of speculation around the stock, and the company's fundamentals need to improve in the medium to long term." The renewable energy solutions provider is expected to announce its Q4 FY26 results next month.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted, "Suzlon has rebounded strongly. The current price near Rs 55 aligns with the 200-day SMA, which may act as a near-term resistance and temper momentum. Nevertheless, the broader trend remains bullish, and any pullbacks toward the Rs 48-45 range are likely to present favorable accumulation opportunities for investors in the near term."

Virat Jagad, Senior Technical Research Analyst at Bonanza, said, "Suzlon Energy is showing a short-term recovery within a broader downtrend channel. Price has bounced strongly from lower channel support with rising volumes, indicating buying interest, and is now approaching a key resistance zone near Rs 54–55, which aligns with previous supply and the falling trendline. A sustained breakout above Rs 55 can trigger upside towards Rs 60–62, whereas failure to hold above Rs 50 may invite renewed selling pressure. Overall, cautiously bullish with resistance confirmation needed."

Ravi Singh, Chief Research Officer at Mastertrust, stated that the stock looked strong on charts and could hit an upside target of Rs 55 in the near term.

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said, "Support is seen at Rs 48, while resistance is placed at Rs 55. A decisive move above Rs 55 could push the stock towards Rs 58, with the expected short-term trading range pegged between Rs 48 and Rs 58."