Suzlon Secures 378 MW NTPC Deal; Will ₹61 Breakout Unleash the Next Rally?

has further strengthened its partnership with NTPC Green Energy Ltd. by securing a new 378 MW wind energy order—the second in just eight months which is bringing the total capacity under this collaboration to an impressive 1,544 MW. This latest project, to be executed in Karnataka’s Gadag region, involves supplying 120 of Suzlon’s S144 Wind Turbine Generators (3.15 MW each) mounted on Hybrid Lattice Towers. Alongside equipment supply, Suzlon will handle the project’s foundation, erection, commissioning, and ongoing maintenance. With NTPC Green targeting 60 GW in renewable capacity by 2032, this continued engagement highlights the vital role of wind energy in supporting the nation’s clean energy transition through reliable and scalable infrastructure. Technically, on the daily chart, the price has faced resistance near ₹61, aligning with a historical supply zone and failing to hold above the 100-day EMA (~₹58.60), suggesting short-term profit booking. However, it still trades above the 9-day and 70-day EMAs, indicating mild bullish momentum. RSI is neutral near 57, implying there's room for further move in either direction. On the weekly chart, the recent bullish candle with strong volume has broken out above the confluence of the 9-week and 70-week EMAs (₹54.94 & ₹56.03), turning them into potential support. The price seems to be forming a higher low structure, reinforcing a medium-term bullish bias. Key resistance levels ahead are ₹61 and ₹68.17; a sustained breakout above ₹61 could trigger momentum toward ₹68 and ₹72.82. Downside support rests at ₹54.88, followed by a strong floor at ₹47.97. In the near term, consolidation between ₹54–₹61 is likely, with bullish continuation favored if broader sentiment holds and ₹61 is decisively breached. Follow me for more such posts, Thank You! Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities.