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- Suzlon Energy price prediction: Morgan Stanley sets a ₹71 target as Suzlon rides India's green energy boom with 670% growth over two years.
Suzlon Energy Ltd. (NSE: SUZLON) continues to gain traction in the stock market, recently hitting ₹62.22 after a bullish upgrade by Morgan Stanley. With a revised price target of ₹71, Suzlon’s upward momentum reflects its strong market positioning and positive industry outlook. Let’s explore the technical levels and what lies ahead for Suzlon Energy.
Chart Analysis: Key Support and Resistance Levels
- Current Price: Suzlon is trading at ₹62.22, maintaining bullish momentum after a 5% surge.
- Key Resistance Levels:
- ₹64.50: Immediate resistance, with a breakout signalling further upside.
- ₹71.00: The upgraded price target by Morgan Stanley, a critical psychological level.
- Key Support Levels:
- ₹60.00: Immediate support, aligning with recent consolidation.
- ₹56.50: A stronger secondary support zone that previously acted as a demand level.
Outlook for Suzlon Energy
The bullish sentiment around Suzlon Energy stems from its significant gains year-to-date, with the stock delivering over 670% returns in two years. Suzlon continues to capitalize on the green energy boom in India, reinforcing its long-term growth prospects.
For traders, the ₹64.50 level will be pivotal. A breakout could propel Suzlon closer to the ₹71 target, while a pullback might test support at ₹60 or ₹56.50.