- Suzlon share price holds above ₹53 as bulls eye a move to ₹61. Will the range break soon or is another pullback likely?
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Suzlon Energy (NSE: SUZLON) is holding its ground just above ₹57 after bouncing back from a near-term dip last week. It’s not trending yet, but the way it’s refusing to break below ₹53 is drawing attention. Traders have seen this setup before: compression near support, soft hands exiting, and a sharp move when no one expects it.
With India’s clean energy narrative still intact and Suzlon’s price action showing signs of fatigue on the sell side, the bulls may not be done just yet.
Suzlon Share Price Chart Analysis
Current Price Action:
Suzlon is trading at ₹57.16 after rebounding from support near ₹53.89. The stock continues to consolidate in a tight range, signalling a potential breakout setup if bulls regain control.
Support Levels:
- ₹53.89: Immediate support – price has bounced from this zone multiple times since February
- ₹49.11: Key demand zone – last major bottom before March reversal
- ₹46.19: Deeper support – breach here would weaken the broader bullish structure
Resistance Levels:
- ₹61.00: Immediate resistance multiple rejections seen here since March
- ₹65.71: Breakout level from October 2024 previously acted as a supply zone
- ₹73.02: Higher target if bullish momentum returns
Why Suzlon Is Still in Play
- Quiet Accumulation: Price is compressing between ₹53–₹61, which is often the setup before a range breakout.
- Long-Term Narrative Intact: As India scales up renewable projects, Suzlon remains tied to the core sector story.
- Bears are losing steam. The sellers had a chance to break it down last week, but they didn’t. That says something.
- Volume is thinning – and that’s usually what happens before direction returns.
This is a wait-and-watch chart. But every day above ₹53 increases the odds that bulls will take another shot at ₹61.
Outlook: Cautious, but Leaning Bullish
A clean break above ₹61 with volume? That flips the script. Suddenly, you’ve got breathing room up to ₹65.71, and possibly ₹73.02. On the other hand, if ₹53 fails, we could revisit ₹49 fast.
But so far? Buyers are stepping in when they have to, keeping Suzlon alive for another run.