Suzlon Energy share price declined marginally on Friday. The stock has been recommended as BUY Call by research house Geojit Financial Services with target price at Rs 71. Suzlon Energy recently shared cancellation of two orders but the company informed that there will be no material impact on its order book. During the last one month, Suzlon Energy has offered 14 percent return to investors. The stock has recovered from levels below Rs 50 in the recent sessions. The stock is looking positive on technical charts.

Suzlon Energy Updates Order Book Amid Select Cancellations and Adjustments

Suzlon Energy Ltd, a leading renewable energy solutions provider, issued an exchange filing on Friday updating its current order book position, following a series of order cancellations and modifications.

As of January 28, 2025, the company’s total order book stood at 5,523 MW. After accounting for new order intakes, cancellations, and capacity adjustments, Suzlon confirmed that its updated order book has grown slightly to 5,622 MW. This figure also includes dispatches made during Q4 FY25, which will be disclosed in detail during the announcement of financial results for the quarter and fiscal year ending March 31, 2025.

In its statement, Suzlon clarified several changes to previously announced projects:

The 99 MW order from Vibrant Energy, announced on May 17, 2023, has been cancelled, as the customer has opted not to proceed with the project.

The 201.6 MW order from O2 Power Pvt Ltd (Teq Green Power XI Pvt Ltd), disclosed on August 25, 2023, has been revised downward to 100.80 MW. This modified order will now be executed under the name Solalite Power Pvt Ltd, instead of the originally announced executing entity.

The 100.8 MW order secured from a global utility for its 3 MW series, which was shared on December 15, 2023, has also been cancelled, as the client has chosen not to move forward with the development.

Despite these developments, Suzlon emphasized that there will be no material impact on the overall health of its order book, which remains robust amid continued traction in India’s wind energy segment. The company reiterated its commitment to fulfilling current projects while actively securing new opportunities.

Suzlon Energy Technical Analysis: Navigating a Key Reversal Zone

Suzlon Energy is currently trading at a technically crucial level, showing signs of potential reversal or breakout based on recent candlestick activity. With its 52-week range stretching from Rs 37.90 to Rs 86.04, the stock has retreated from its highs and now trades near a key Fibonacci retracement level. This report examines the latest candlestick patterns, calculates essential Fibonacci levels, and outlines strategic support and resistance zones, providing traders with actionable insights.

Candlestick Pattern Analysis (Daily Chart)

Using the provided intraday data—Open: Rs 57.36, High: Rs 58.40, Low: Rs 56.40—the candle likely formed a small-bodied structure with wicks on both ends, resembling a Spinning Top. This pattern suggests market indecision, and when it appears near a key retracement level, it could indicate a reversal or consolidation zone. A bullish confirmation in the next trading session could signal the beginning of an upward move.

Fibonacci Retracement Levels

Calculated using the 52-week high (Rs 86.04) and 52-week low (Rs 37.90), here are the key Fibonacci retracement levels:

Suzlon is currently trading near the 38.2% retracement level, which often acts as a battleground for bulls and bears. A breakout above Rs 57.04 may lead to a move toward Rs 61.97. On the downside, failure to hold above Rs 56.00 could drag prices back to Rs 49.46.

Support and Resistance Levels

Based on recent price action and psychological markers, here are key support and resistance zones for Suzlon Energy:

The range between Rs 56.00 and Rs 58.50 is likely to serve as a decision zone. A sustained move outside this range could define the stock’s direction in the short term.

Actionable Insights and Strategy

• Bullish Scenario: A breakout above Rs 58.50 may attract momentum buying, potentially driving the stock toward Rs 62.00 and Rs 66.90. Traders can consider entering above Rs 58.60 with a stop-loss at Rs 55.90.
• Bearish Scenario: If the price falls below Rs 56.00, weakness could accelerate toward Rs 49.50. Short positions may be initiated below Rs 55.90 with a target near Rs 50.00.
• Consolidation Watch: A range-bound movement between Rs 56.00 and Rs 58.50 suggests sideways action. Wait for a clear breakout or breakdown before taking directional trades.

Final Thoughts

With a current P/E ratio of 67.77 and no dividend yield, Suzlon Energy trades at a premium that may be justified only through earnings growth. From a technical perspective, the stock is at a crossroads. The convergence of a key Fibonacci level and a neutral candlestick pattern suggests traders should prepare for a breakout. Keeping an eye on volume spikes and confirmation candles will be crucial in the days ahead.