Suzlon Energy’s stock experienced a decline of 4.19% intraday to Rs 19.40 on the BSE, compared to the previous close of Rs 20.25. This drop in the stock price is consistent with the broader market trend. The market capitalization of Suzlon Energy also decreased to Rs 26,634 crore.
The stock witnessed high turnover and volume, with 136.76 lakh shares of the firm changing hands, amounting to a turnover of Rs 26.92 crore on the BSE.
It is worth noting that on July 25, 2023, the stock reached a 52-week high of Rs 21.25, while its 52-week low of Rs 6.60 was recorded on October 13, 2022.
Here’s a summary of the technical analysis of Suzlon Energy stock:
1. Relative Strength Index (RSI): The RSI value of 64.7 suggests that the stock is currently trading neither in the overbought (typically above 70) nor in the oversold zone (typically below 30). This indicates a relatively balanced trading range.
2. Beta: With a beta of 1.6, Suzlon Energy stock indicates high volatility, meaning it tends to move more compared to the broader market. Investors should be aware of potential fluctuations and risks associated with this high volatility.
3. Moving Averages: The stock is trading higher than the 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a positive trend in the medium to long term. However, it is trading lower than the 5-day moving average, which suggests a short-term downward trend or recent price weakness.
