Suzlon Energy (NSE: Suzlon) collapsed hard on Tuesday, closing near ₹ 53.74 and giving entrepreneurs a GAT check after the action that was bound last week. After grinding between ₹ 54 and ₹ 57 for days, the downside violation today may be a sign that bulls are running out of steam, at least for now.
There is no violation of the news that drives the collapse, making it more technical in nature. The wider mid-cap space also felt pinch, but Suzlon's denial near ₹ 57 increases weight to bearish pressure.
Suzlon Technical Analysis: Cracks begin to show
- Immediate resistance: ₹ 57 – Multiple rallies have been trapped since April
- Main Breakout Level: ₹ 61 – key horizontal zone from Q1
- Now under pressure: ₹ 53.70 – The bulls need to be defended quickly
- Key floor if damaged: ₹ 49 – strong place of demand in history
- RSI: 29.42-oversold, can trigger a short-term bounce
- MACD: Negative slope, confirms fading momentum
The chart-wise, the stock is slipping under short-term moving averages and pierced by the base of its recent coil. A retest of ₹ 53 is expected, but the failure to bounce leaves the door open to further fall, perhaps a trip back to ₹ 49.
What do entrepreneurs should watch
This is not yet panic mode, but the mood is clearly moving. Volume was selected during the sale, which suggests the move is more than the noise. If consumers do not walk fast, we will see a slow avoidance in the next few sessions.
That said, the RSI in Oversold Territory means a snapback towards ₹ 55– ₹ 56 is not on the table when bargain hunters appear. But without momentum, the bulls remain in the defensive.
Post Suzlon Energy Share price now: Can ₹ 53, or a breakdown brewing be handled? Appeared in the UK first in investingCube.
