Suzlon Energy share price dropped below psychological level during trading session on Friday. The stock was early taking a support around Rs 50 but with sustained selling in Indian equities, Suzlon closed the week below Rs 50. The immediate support for the stock is between Rs 48 and 46. At current price, the stock has witnessed a steep decline from Rs 86 (multiple year highs) and is currently just offering 16 percent returns to investors over a one year period. Suzlon has strong trading volumes and any strong upside move would need a lot of buying support at lower levels.

Stock Performance and Financial Metrics

As of the last trading session on Friday, Suzlon's stock opened at Rs. 51.21, reached a high of Rs. 51.90, and dipped to a low of Rs. 49.51. The company's Price-to-Earnings (P/E) ratio stands at 59.53, reflecting investor expectations of future earnings growth. Notably, Suzlon does not currently offer a dividend yield.​

Analyst Recommendations and Price Targets

Technical Analysis: Key Indicators for Traders

Candlestick Pattern Analysis
A Doji candlestick has formed on the daily chart, signaling market indecision. This pattern is often followed by a sharp move in either direction, making the next trading sessions critical for setting Suzlon’s short-term trend.

Fibonacci Retracement Levels
Applying Fibonacci retracement from the 52-week high (Rs. 86.04) to the 52-week low (Rs. 35.50) reveals the following key levels:

Key Insight:

Support at Rs. 48.29 aligns with the 23.6% retracement level, making it a critical level to watch for buyers.
Resistance at Rs. 60.77 (50% retracement) is a major hurdle for the stock to break before further upside.
Support and Resistance Levels
Immediate Support: Rs. 49.51 (day’s low)
Immediate Resistance: Rs. 51.90 (day’s high)
Key Resistance: Rs. 57.17 (aligns with 38.2% Fibonacci retracement)
These levels provide traders with actionable price points to monitor for potential buy and sell signals.

Investment Strategies and Actionable Insights

For Long-Term Investors:

Suzlon remains a strong bet on India’s renewable energy future.
Buying near Rs. 49.51 (support level) offers a low-risk entry point.
Holding for long-term gains towards Rs. 71.88 (analyst target) could be profitable.
For Short-Term Traders:

Watch for a breakout above Rs. 51.90 to confirm a bullish move.
Stop-loss below Rs. 49.51 to manage downside risks.
For Risk-Averse Investors:

Monitoring Suzlon’s next earnings report and sectoral government policies could offer better clarity.