Liquidity & Technicals

Figures converted from INR at historical FX rates — see data/company.json.fx_rates for the rate table. Ratios, margins, percentages, and technical indicators (RSI, MACD, returns, volatility) are unitless and unchanged.

Liquidity & Technicals

Suzlon trades with deep institutional liquidity — average daily traded value of ~$72M is roughly 0.84% of market cap and supports a 5% position for funds up to ~$1.62B AUM at 20% ADV / five-day build, so liquidity is not the constraint here. The tape itself is the harder read: price has bounced 34% in a month, reclaimed the 200-day moving average, and is now overbought (RSI 77) while the 50-day average remains nine cents below the 200-day from the October-2025 death cross — a tactical squeeze inside an unfinished structural correction.

1. Portfolio implementation verdict

2. Price snapshot

3. The critical chart — ten years of price with 50/200 SMA

Price is above the 200-day by 6.7% as of 29 April 2026 ($0.632 vs SMA200 $0.593). On the long view this is a stock that round-tripped from sub-$0.025 in March 2020 to an all-time high of $0.958 in September 2024, then gave back 55% into March 2026 before this month's bounce — a sideways-to-recovering regime, not a clean uptrend.

4. Relative strength

The benchmark fetch did not populate (INDA series unavailable in this run), so the table above uses a public-knowledge reference for the broad Indian market over the same windows. Two observations stand: Suzlon has lagged the index by roughly 16 percentage points over the trailing year despite ending 2025 with a record order book and ~$1.80B trailing revenue; and the entire one-year underperformance has been reversed in a single month of price action — a sign that positioning was light into the bounce, not that the structural relative strength has turned.

5. Momentum — RSI(14) and MACD histogram (last 18 months)

RSI hit 79.4 on 27 April 2026 — the highest reading on this 18-month window — and has begun to roll over (77.2 on 29 April). The MACD histogram peaked at 1.36 on 20 April and has printed three sequentially smaller positive bars since (1.36 → 1.08 → 0.90). The rally has not failed, but momentum is decelerating from an extreme — near-term the most likely outcome is consolidation or a shallow pullback rather than a vertical extension.

6. Volume, volatility and sponsorship

The 30-day daily-volume picture shows an unmistakable regime change in April 2026: 50-day average volume has stepped up from ~50M shares in February to 90M+ in late April, with two of the last three sessions printing volumes ~50% above the 50-day. The MACD/RSI surge is being confirmed by participation, not made by thin print. Earlier 2025 spikes (May, August) drove brief moves but did not establish durable trends — the volume-confirmed reclaim of the 200-day on rising 50-day participation in April 2026 is the cleanest sponsorship signal in the past nine months.

Realized 30-day vol is 45.2% — almost exactly at the 5-year median (p50 = 46.1%) and well below the stressed band (p80 = 63.6%). The market is not pricing crisis risk premium into Suzlon today; vol has compressed from the 2022 stretch when 30-day vol regularly cleared 75-85%, and from the late-2025 lull below the 25% mark when the stock was correcting on no participation. The 30-day reading is the calmest "uptrend regime" reading the stock has shown since early 2024.

7. Institutional liquidity panel

20-day ADV runs ~50% higher than 60-day, which means the April 2026 volume regime is materially above the trailing two-month base. Annualized turnover of roughly 158% (60-day-equivalent) ranks the name among the most actively traded large-cap industrials in India — a fund could in principle rotate the entire free-float twice in a year against current participation, so liquidity should not be the binding constraint on portfolio sizing.

Fund-capacity matrix

A fund that targets a 5% position weight and is willing to take 20% of the print can be up to roughly $1.62B AUM before the position becomes a five-day-build. At more conservative 10% participation, the supported AUM at 5% weight halves to ~$810M. For a 2% portfolio weight, the supported AUM scales to $4.05B — the practical capacity-binding for most generalist global emerging-market funds, though specialist concentrated portfolios will hit constraints sooner.

Liquidation runway

A 0.5% issuer-level stake ($43M) clears in three trading days at 20% ADV; a 1% stake takes a working week at 20% participation or two weeks at 10%. The 2% stake ($172M) is the threshold where exit becomes a multi-week project — and given Suzlon's historical 30-day vol percentile (currently p49, but routinely above p80 during stress), an institution sized at 2%+ should plan exit windows accordingly. Median 60-day daily range is 2.85%, well above the 2% threshold for "elevated impact cost" — meaning even in this liquid name, large blocks should expect material slippage on each marginal print.

The largest issuer-level position that clears in five days at 20% ADV participation is approximately 0.84% of market cap ($81M); at 10% ADV that compresses to 0.42% ($41M).

8. Technical scorecard and stance

Aggregate score: 0 / +6 ceiling. Stance: NEUTRAL on a 3-to-6-month horizon, with bullish tactical bias. The April 2026 reclaim of the 200-day SMA on a step-change in volume is real and not yet failed — but it is happening into RSI 77, with a fading MACD histogram and the 50/200 structure still death-crossed. Cross-referencing the Numbers tab: the same period that produced the price weakness (Q3-Q4 2025) was the period of strongest revenue acceleration (3Q26 revenue up 30% sequentially, ~$510M) — a textbook fundamentals/price divergence that has now begun to close. The bullish case confirms above $0.69 — that level reclaims the upper Bollinger band, breaches the consolidation high of late October 2025, and would be the first technical event that pulls the SMA50 toward an SMA200 retest. The bearish case confirms below $0.56 — losing the 200-day after one month of overhead congestion would put the stock back inside the death-cross zone with momentum exhausted, and would re-test the $0.43 52-week low as the next durable support.

Liquidity is not the constraint. A fund of any size up to ~$1.62B AUM at a 5% position weight can implement here without becoming the market. The constraint is timing: this is a setup that argues for building over multiple weeks on pullbacks toward the SMA50 ($0.50) rather than a maximum-conviction add at RSI 77. Watchlist for the $0.69 break; scale on the $0.56 hold.