- Summary:
- Suzlon Energy stock jumped 5% today, rebounding from key support near ₹46. Can this momentum continue or is another drop ahead?
Suzlon Energy shares rallied 5% on Friday, April 11, following a sharp rebound from the ₹46.19 support level. The move comes amid renewed investor interest in clean energy stocks and short-covering after a recent dip. While Suzlon has faced selling pressure over the past few weeks, today’s jump raises a key question — is this a sustainable reversal or just a temporary bounce?
Chart Analysis: Key Support and Resistance Levels
Suzlon Price Today: ₹52.70
1-Week Performance: +3.9%
Today’s Move: +5.0%
- Immediate Resistance: ₹53.89 – A break above this key zone could lead to a test of ₹61.00.
- Major Resistance: ₹65.71 – ₹73.02 – These levels have acted as strong supply zones in the past and could cap further upside.
- Immediate Support: ₹49.11 – Holding this level is crucial to maintain short-term bullish momentum.
- Major Support: ₹46.19 – A drop below this zone could trigger fresh selling and retest earlier lows.
News Catalyst: Suzlon’s 5% Surge and Market Sentiment
Suzlon shares jumped 5% today driven by renewed buying interest. The rebound follows a volatile period for renewable energy stocks amid profit-booking.
Investors are also eyeing progress on wind energy projects and potential government incentives as India ramps up its renewable energy transition goals. However, macroeconomic headwinds and global energy market uncertainty still loom large.
Traders should watch for volume confirmation and any policy-related headlines from the renewable energy sector.