Suzlon Energy shares surge over 12% in 2 days to new 52-week high. What should traders do?

Suzlon Energy’s shares rose 7.4% to a 52-week high of INR15.05 ($0.20) as it surged 12.5% in two days. The consolidation of the stock suggests a continuation pattern that will identify it as an uptrend with support level near INR12. The renewable energy company announced last week that it had achieved the landmark of 20 GW installed wind turbine capacity worldwide. Suzlon Energy posted a consolidated net profit of INR320 crore for Q4FY23 and consolidated net profit of INR2,852 crore for FY23, while its total income for FY23 was down 9% at INR5,990 crore.