Shares of Suzlon Energy have recently lost momentum, raising concerns among investors. Despite hitting a 52-week high of ₹86.05 on September 12, 2024, the stock has since struggled to maintain this level, dipping to ₹80.75. The question now is, should investors hold off or seize the chance to buy shares online?
Suzlon’s market position and recent trends
Suzlon Energy, a leader in renewable energy solutions, has seen impressive growth over the past few years. The stock surged by 229% in a year and a staggering 879% over two years, driven by bullish sentiment around the company's wind turbine and solar energy solutions. However, the recent price decline raises concerns about whether the stock can defend the crucial ₹80 mark.
While shares of Suzlon Energy are still trading above key moving averages like the 10-day, 20-day, and 200-day lines, they have slipped below the 5-day moving average, signaling a potential reversal. With market capitalisation at ₹1.11 lakh crore, Suzlon has clocked a significant turnover of ₹32.29 crore as over 39 lakh shares changed hands.
What analysts say about Suzlon’s future
Some market analysts remain optimistic despite the recent slowdown. They have a positive bias, predicting the stock will rise to ₹96 and potentially ₹107 in the near term. They point to the stock's recent higher bottom formation, which suggests strength, though warns that slipping below ₹79 could signal weakness.
Others offer a more cautious outlook. He notes Suzlon’s resistance at ₹86.50 and cautions that a close below ₹80 could trigger a further decline to ₹70.50. This mixed outlook means that for those looking to buy shares online, careful timing is essential.
Is it the right time to buy shares online?
For those considering whether to buy shares online, Suzlon’s recent performance might suggest caution. The stock has demonstrated both strong growth and signs of waning momentum, leaving investors unsure of its immediate trajectory.
With the stock market being unpredictable, it’s important to analyse both long-term prospects and short-term risks. Suzlon remains a major player in the renewable energy space, and its stock price could bounce back based on positive developments in the sector. However, analysts also point out technical resistance and declining relative strength, which could mean continued volatility.
Final thoughts
Suzlon Energy’s recent loss of momentum has raised doubts about its ability to defend the ₹80 mark. Investors considering whether to buy shares online should take into account both the potential for further gains and the risks posed by market fluctuations. As always, conducting thorough research and monitoring the stock’s performance will help guide informed decisions.
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