The shares of Suzlon Energy have seen an increase of about 2900% since the Kornavirus crash on 23 March 2020. Five years ago, when a lockdown was installed worldwide due to epidemic, the Indian stock market had a huge decline. The Sensex and Nifty reached their lowest level after 2016.
Since then, the Indian market has received tremendous recovery and the index has risen more than 150%. The stock of Suzlon Energy has also proved to be a multibagger in this rally. The stock was at Rs 1.93 on 20 March 2020, which fell to Rs 1.85 on 23 March 2020. But after that it continued to grow and is now trading around Rs 58.
Suzlon Energy shares continuously up, but ups and downs continue
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In 1 year – 54% rise
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In 2 years – 660% rose
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In 3 years – 574% rose
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Recently (in 6 months) – 31% fall
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In the last 3 months – 11.37% fall
In the current season, Suzlon’s stock rose 2% to Rs 57.90 on BSE. However, it is still trading below on 12 September 2024, the highest level of its 52-week from Rs 86.04 to 33.30%.
The stock was at Rs 36.55 on 22 March 2024 at Rs 36.55, but since then it has seen. The current market cap has gone up to Rs 78,369 crore.
Trading View: Suzlon shares support and resistance level
The beta of shares of Suzlon Energy is 1.2, which shows that this stock is of high volatility.
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It is trading 100 days, 150 days and 200 days below averages, but 5 days, 10 days, 20 days, 30 days and 50 days trading above the moving averages.
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According to Anand Rathi’s Jigar S Patel,
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Support – Rs 56
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Resistance – 60 rupees
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If a level of 60 rupees is a break, it can go up to 63 rupees.
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Short Term Trading Range – Between 56 and 60 rupees.
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JM Financial has reduced the target price of Suzlon Energy from Rs 80 to Rs 71.
