If Suzlon Energy share price crosses Rs 77, it can go up to Rs 83, down level is up to Rs 67.

Suzlon Energy, India’s leading wind energy company, has been making headlines with its impressive share price performance on September 3, 2024. The stock has been the talk of the town among investors and market analysts alike, with many predicting a bright future for the renewable energy giant. The company’s shares have been on a steady upward trajectory, with the stock price reaching a new 52-week high of Rs 84.40 on August 13, 2024. This impressive performance has been attributed to a combination of factors, including the company’s focus on reducing debt, acquiring new projects, and the government’s push for renewable energy.

Today’s Price Forecast, Market Performance, and Technical Analysis of Suzlon Energy share price

As of September 3, 2024, Suzlon Energy’s shares were trading at Rs 73.79, down 2.69% from the previous day’s close. Despite the slight dip, analysts remain optimistic about the company’s future prospects. A technical analysis of the stock reveals that Suzlon Energy has been trading within a narrow range of Rs 75-80 over the past 17-18 days, indicating indecision among traders. However, the stock is currently positioned around the Rs 76 mark, with a key support zone emerging at Rs 73-72.

Fundamental Analysis and Today’s Target Prediction of Suzlon Energy share price

Fundamental analysis of Suzlon Energy paints a positive picture for the company. Analysts believe that the share price of Suzlon Energy can reach Rs 48.50 to Rs 55.65 per share in 2024. By 2026, the stock’s first target price is predicted to be Rs 90, with an alternate target of Rs 118.

These predictions are based on the company’s focus on reducing debt, acquiring new projects, and the government’s push for renewable energy. Suzlon Energy has a 33% wind energy market share in India and a power production capacity of 19,108 MW, which is expected to increase further.

Quarterly Results Analysis and Market Outlook

Suzlon Energy’s recent quarterly results have been encouraging, with the company reporting a reduction in expenses and the acquisition of new projects. These factors have contributed to the company’s improved financial performance and the rise in its share price.

Looking ahead, analysts remain bullish on Suzlon Energy’s prospects. The company’s focus on next-generation wind turbines made of carbon fiber, which offer higher productivity and lower costs, is expected to boost its international competitiveness.

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Intraday Trading Levels and Tomorrow’s Expected Performance

For intraday traders, Suzlon Energy’s current trading levels offer an opportunity to capitalize on the stock’s potential upside. The Rs 73-72 support zone could provide a strong foundation for the stock, while a close above Rs 140 on a daily basis could signal the beginning of a stronger upward trend.

Tomorrow, Suzlon Energy’s performance is expected to be influenced by a combination of factors, including the overall market sentiment, the company’s latest developments, and the government’s policies on renewable energy.

Comparison with Peer Stocks and Key Factors

Compared to its peers in the renewable energy sector, Suzlon Energy has been a standout performer. The company’s focus on reducing debt and acquiring new projects has set it apart from its competitors. Key factors that have contributed to Suzlon Energy’s success include the government’s push for renewable energy, the company’s commitment to innovation, and its ability to adapt to changing market conditions.

Bearish and Bullish Trends and Today’s Update News Of Suzlon Energy share price

While some analysts remain cautious about Suzlon Energy’s short-term prospects, the overall sentiment remains bullish. The company’s recent acquisition of a Rs 20,000 fine by the Tamil Nadu GST Department for a minor inadvertent error in the GSTR-1 filing for the 2019-20 period is not expected to have a material impact on its financials, operations, or other functions.

Important Levels and 52-Week High Low

As mentioned earlier, Suzlon Energy’s 52-week high of Rs 84.40 was recorded on August 13, 2024. The stock’s 52-week low of Rs 21.71 was reached on September 13, 2023. The company’s current trading levels, particularly the Rs 73-72 support zone and the Rs 140 resistance level, will be closely watched by investors and traders alike.

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