Suzlon Energy Limited (SUZLON) Stock - Complete Technical Analysis - Nov 28, 2024

Suzlon Energy Limited Stock Analysis: Key Support & Resistance Levels for Traders (SUZLON Technica

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Suzlon Energy Limited (SUZLON) has been consolidating around the 63.7 mark, with short-term price fluctuations indicating indecision. The stock has recently formed Doji and Spinning Top candlestick patterns, signaling a pause in momentum. Support is evident at the 62.90-63.00 range, while resistance lies near the 65.50 level, with a potential for a breakout. The stock's Average Directional Index (ADX) at 24.69 suggests a lack of strong directional movement. However, the Relative Strength Index (RSI) of 45.75 points to a neutral market, and the negative MACD implies that downward momentum is weakening.

The price is currently trading below the 10-day and 20-day exponential moving averages (EMA), indicating resistance in the short term. The 50-day EMA at 67.81 is likely to act as a key resistance if the stock attempts a rally. The Average True Range (ATR) of 1.5 indicates moderate volatility, so traders should be prepared for sudden price changes.

With the 52-week high of 86.04 and a 52-week low of 33.9, the stock has been performing well above its lows, showing potential for further gains if it breaks the 65.50 resistance. However, if the stock falls below 62.90, it could retest the 61.00-61.50 support zone. Suzlon's technical indicators suggest that it may remain in a neutral-to-bullish trend, with cautious optimism in the short term.