Suzlon Share Price closed at INR 14.45 on 7 June 2023. Suzlon Share Price Breaks its 52-Week High. If you could invest 1 Lakh 2 months ago, let’s see how much you would get a return today.
Since 2018 the Suzlon share price has struggled very hard below INR 10, In 2020 the Suzlon share price reached a low point at INR 1.50. However, if we see technically, then after making a low point at INR 1.50 the Sulzon share price was moving with an Uptrend wherein there were a lot of pumps and dumps we saw, but the Suzlon Share price was in an uptrend.
Here, we can see the Suzlon share price was in an uptrend as per the chart pattern it was in a continuation pattern. There were multiple opportunities we can see at the trend line where the price touches and go up.
Two months ago, Suzlon Share Price was trading at nearly INR 7 which was the support level according to the trend line.
As of today 7th June 2023, the Suzlon share price closed at INR 14.45 which is 100% returns in the last 2 months. If you could have invested INR 1 Lakh in Suzlon shares 2 months ago, mostly you would get quantity 14,285, Today your invested INR 1 Lakh will turn to nearly INR 2 Lakh.
Also, the Suzlon share price has broken its 52-week high and gave a breakout to the resistance level which was near INR 12.
As the Suzlon share price has given a breakout hence the Suzlon stock is currently in the overbought zone. The uptrend rally may continue due to the heavy volume, however, it may be possible the price may down for correction.
Entering into the stock which is in the overbought zone can be risky and may create a panic situation when down. For the Suzlon share price, it is important to see whether the Suzlon share price is sustaining above 12 in the next few trading sessions, if the price takes support at INR 12, then it may be possible that the Suzlon share price will go more up, and the next possible target will be INR 20, INR 28-30.
Disclaimer: The information in this post is just for entertainment, education, and information purposes and it does not indicate any kind of investment. Please perform your own research and take advice from your fund advisor. The information in this post will not be responsible for any profit or loss.