Suzlon Share Price | Suzlon Energy stock can go up to 34 rupees, market experts say buy!

Suzlon Share Price | Shares of renewable energy company Suzlon Energy Limited have given strong returns of 118% to investors in the last three months. The stock had closed at Rs 8.63 on May 5, Suzlon shares hit an intraday high of Rs 18.78 on BSE today. That is, an increase of 117.61% was seen.

Suzlon Energy’s stock rose for the second consecutive session today. The stock broke its two-day decline on Friday, rising 5% intraday on the BSE. Shares of Suzlon Energy rose to Rs 18.78 from its previous close of Rs 18.39 on the BSE. Suzlon Energy’s market cap stood at Rs 22,831 crore.

Suzlon Share Price

In terms of technicalities, the Relative Strength Index (RSI) of Suzlon Energy stock is at 56.2, indicating that it is neither trading in the overbought nor oversold zone.

Suzlon Energy shares have a beta of 1.6, indicating a lot of volatility in a year. Suzlon Energy’s stock is trading at more than 20 days, 50 days, 100 days and 200 days but below the 5-day and 10-day moving averages.

Suzlon Share Price – What the expert said?

“Suzlon Energy is in a downward position with the next resistance at Rs 19.4 on the daily chart. Investors should book profits at the current level or stay put until the daily support of Rs 17.7 is broken on a closing basis.

Vaishali Parekh, Vice President, Technical Research, Prabhudas Lilladher, said, “The stock has gained well from the Rs 8 level and has found consolidation near the Rs 17-18.50 zone after touching a high of Rs 20.80 recently.

The near-term support has been maintained at the level of Rs 17 and above Rs 20.80, a fresh breakout will be indicated for further targets of Rs 26 and Rs 34.

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