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The stock has a rss level of 80 which is good, which shows its superiority compared to other stocks.
Suzlon, since its inception, has been synonymous with green energy. Over the past two decades, he has carved out opportunities for himself in seemingly endless challenges to achieve many milestones.
The stock jumped nearly 10 percent on Monday and hit a new 52-week high on the bourse. The total trading volume for the day is approaching the 36 crore mark, which is higher than the previous trading session and above the average.
Technically, the stock looks bullish as it has reached a 52-week high and is trading above important short- and long-term moving averages, namely the 20, 50, 100 and 200-DMA. The stock has a rss level of 80 which is good, which shows its superiority compared to other stocks. The daily MACD is pointing north, holding above its nine-period moving average, thus confirming a positive bias in the stock. The stock is clearly high and the strength of the trend is extremely high. The Average Directional Indicator (ADX) showing the strength of the trend is as high as 39.47 on the daily chart and 25.06 on the weekly chart. In general, a level above 25 is considered a strong trend. In both time frames, the stock is meeting the criteria.
Here is an interesting insight, the stock has seen good institutional activity in November as many mutual funds have added to their holdings or bought them and the full details are as follows.
| MF schemes | AUM % | Shares are held | Monthly change in container | Monthly Change in Shares % | Absolute Return % | Category Average % |
|---|---|---|---|---|---|---|
| Quant small cap fund growth | 0.7 | 1,95,00,000 | 1,95,00,000 | 100 | 5.4 | 1.48 |
| SBI Nifty Smallcap 250 Index Fund Regular Growth | 0.7 | 10,32,318 | 2,18,892 | 26.91 | 3.4 | 0.16 |
| Motilal Oswal Nifty Smallcap 250 index regular growth | 0.7 | 25,33,098 | 1,20,732 | 5 | 3.4 | 0.16 |
The quant small cap fund made a new entry in Suzlon Energy stock in November, adding about 1.95 million shares of the company. The fund has returned a perfect 5.4 percent in the last one month against the category average of 1.48 percent. On the other hand, SBI Nifty Smallcap 250 Index Fund and Motilal Nifty Smallcap 250 Index Fund bought 2.19 lakh and 1.21 lakh shares of the company and returned 3.4 percent in the last one month against the category average of 0.16 percent.
Interestingly, the equity allocation in all three mutual funds is 0.7 percent of the total AUM.
Have you invested in these mutual fund schemes? Let us know in the comment section.
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