Suzlon Energy share price can go down to Rs 57.50 today, understand the price action of the market
On September 2, 2024, Suzlon Energy share price experienced a notable decline, reflecting the volatile nature of the stock market. As of the latest updates, the stock was trading at approximately ₹73.5, down by 3% from previous levels. This shift comes after a remarkable year for the company, characterized by significant price increases and investor interest.
Main Points
- 1 Live Today Suzlon Energy share price
- 2 Market Performance of Suzlon Energy share price
- 3 Technical Analysis of Suzlon Energy share price
- 4 Fundamental Analysis of Suzlon Energy share price
- 5 Today Target Prediction of Suzlon Energy share price
- 6 Intraday Trading Levels of Suzlon Energy share price
- 7 Quarterly Results Analysis
- 8 Tommrow Price Forecast of Suzlon Energy share price
- 9 Market Outlook
- 10 Compare Peer Stocks
- 11 Key Factors Influencing Price Movements
- 12 Bearish and Bullish Trends
- 13 Today Update News
- 14 1 Month Important Levels
- 15 Movement Causes and 52-Week High Low
The current share price of Suzlon Energy is indicative of a broader market trend. The stock has seen a substantial rise of about 198.2% over the past year, moving from a low of ₹24.7 to its recent trading levels. Despite this impressive growth, the recent dip raises questions about the sustainability of this upward trajectory.
Suzlon Energy has been a multibagger stock in recent times, with returns of 193% over the last year and a staggering 909% over the past two years. The stock reached a 52-week high of ₹84.40 on August 13, 2024, but has since faced profit booking and market corrections. The market capitalization of Suzlon stands at ₹1,06,871 crore, reflecting its strong position in the renewable energy sector.
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From a technical perspective, the stock has shown strong momentum, trading above its 20-day, 50-day, and 100-day moving averages. However, the relative strength index (RSI) indicates an overbought condition, hovering around 72.8. Analysts suggest that a minor correction may occur, which could provide a buying opportunity for investors looking to enter at a lower price point.
Fundamentally, Suzlon Energy reported a net profit growth of 199.6% year-on-year for the quarter ending June 2024, amounting to ₹3,023 million. This growth was supported by a revenue increase of 49.6%, highlighting the company’s robust operational performance. However, the annual profit for FY24 saw a decline of 77.1%, raising concerns about the company’s ability to maintain consistent profitability.
Given the current market conditions and technical indicators, analysts predict that Suzlon Energy’s share price could face resistance around the ₹75-₹76 range. If the stock can hold above this level, there is potential for it to reach targets of ₹100 and ₹115 by the end of the year, contingent upon broader market trends and investor sentiment.
For intraday traders, key support levels are identified at ₹72 and ₹70, while resistance levels are pegged at ₹76 and ₹78. Monitoring these levels will be crucial for traders looking to capitalize on short-term price movements.
Quarterly Results Analysis
The quarterly results of Suzlon Energy reflect a mixed performance. While the latest quarter showed strong growth, the overall annual figures indicate volatility. Investors should keep an eye on future earnings reports to gauge the company’s ongoing performance and market positioning.
Looking ahead, the forecast for Suzlon Energy’s share price remains cautious. The stock may continue to experience fluctuations as it adjusts to recent profit-taking activities. Analysts suggest that if the stock can stabilize around the ₹73 mark, it may set the stage for a rebound in the coming days.
Market Outlook
The overall market outlook for Suzlon Energy is cautiously optimistic. With the global shift towards renewable energy, the company is well-positioned to benefit from increasing demand. However, market corrections and profit booking may create short-term volatility.
Compare Peer Stocks
In comparison to its peers in the renewable energy sector, Suzlon Energy has outperformed many competitors. Companies like Siemens and BHEL have also shown growth, but Suzlon’s recent performance has been particularly noteworthy. This positions Suzlon as a strong player in the market, although investors should remain vigilant about potential risks.
Key Factors Influencing Price Movements
Several key factors influence the price movements of Suzlon Energy shares:
- Market Sentiment: Investor confidence plays a crucial role in stock performance.
- Profit Booking: Recent gains have led to profit-taking, impacting short-term prices.
- Global Energy Trends: The shift towards renewable energy sources can drive long-term growth.
Bearish and Bullish Trends
Currently, the market is witnessing a mix of bearish and bullish trends for Suzlon Energy. While the long-term outlook remains bullish due to the company’s strong fundamentals and market position, short-term bearish trends driven by profit booking are evident.
Today Update News
Recent news surrounding Suzlon Energy includes discussions about its ambitious plans for offshore wind energy projects, which could significantly enhance its market position. Investors are keenly watching these developments as they could impact future share prices.
1 Month Important Levels
Over the past month, important price levels for Suzlon Energy have been established. The stock’s 52-week low was ₹21.71, while the high reached ₹84.40. These levels will serve as critical benchmarks for traders and investors in the upcoming weeks.
Movement Causes and 52-Week High Low
The recent movement in Suzlon Energy’s share price can be attributed to a combination of profit booking, market corrections, and broader economic factors. The stock’s ability to maintain its position above the 52-week low of ₹21.71 will be a key indicator of its resilience in the market.
