Suzlon Energy Ltd., a major player in the wind energy sector, is seeing a rough trading stretch as its shares have plummeted for the eighth consecutive day, hitting a two-month low. The stock remained locked in a 5% lower circuit on Monday, October 7, as selling pressure persisted.
Extended Decline:
Technical Breakdown:
Approaching Oversold Territory:
Brokerage Downgrade:
Market Sentiment Impact:
Price Level Watch:
The continued slide below key technical levels and the impending oversold RSI suggest a crucial turning point for Suzlon’s stock price. If the RSI dips further below 30, investors might anticipate a short-term bounce or further declines, depending on broader market sentiment.
Suzlon Energy has enjoyed a period of outperformance thanks to its strong order book and improved financials, but the recent downgrades and market pressure have dampened enthusiasm. Analysts now emphasize the need for better execution on existing orders to justify the stock’s previous run-up.
Investors are advised to keep a close eye on the ₹70 support level, as a break below this mark could trigger further selling, while a hold above it may indicate a potential consolidation phase.
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