Equity Market Performance Analyzed
Key Points
- Nifty 50 and Nifty 500 up in Q3 2025.
- Suzlon & TRIL top gainers over 5 years.
- Suzlon average gain: 47.6% over 5 years.
- TRIL average gain: 52.2% over 5 years.
- Suzlon facing downward pressure, key support at ₹50.50.
- TRIL showing cautious positivity near key support levels.
The equity market is starting the third quarter of 2025 (Q3) with a positive trend. The Nifty 50 index, which represents the top 50 companies in India, has risen by over 2% during the first six trading days. Similarly, the broader Nifty 500 index, including a wider range of companies, has also increased by approximately 2% during this same period.
ACE Equity’s data reveals that 12 out of the 500 companies in the Nifty 500 have already shown gains of more than 10% so far. Notably, Suzlon Energy has seen a remarkable rise of nearly 20%, while other performers include BSE, Vodafone Idea, Ather Energy, Nykaa, Aster DM Healthcare, and Mangalore Refinery and Petrochemicals (MRPL). These gains highlight investor confidence in specific sectors and companies.
Looking back over the last five December quarters, beginning with October – December 2020, two companies – Suzlon Energy and Transformers & Rectifiers (India) (TRIL) – have consistently been among the top performers. These two stocks have featured in the top gainers list in four out of the last five Q3 financial quarters.
Suzlon Energy and TRIL have achieved exceptional returns. Suzlon has surged by over 30% in these four quarters, reaching its highest point in December 2020 with a 121% gain. TRIL followed closely with a 122% rise in that same quarter. However, Suzlon’s gains peaked at 32.7% in December 2022, while TRIL recorded a minimum 30.5% increase during Q3FY22.
On average, Suzlon has delivered a solid net gain of 47.6% over the past five December quarters, whereas TRIL has registered a positive return of 52.2%. These figures demonstrate the potential for strong returns within these specific stocks.
Given this historical performance, will Suzlon Energy and Transformers & Rectifiers (India) (TRIL) be able to repeat their winning strategies in Q3FY26? The technical charts offer some insight.
Suzlon Energy
Current Price: ₹53.30
Likely Target: ₹45
Downside Risk: 15.6%
Support: ₹50.50
Resistance: ₹57; ₹59.15; ₹62
Suzlon Energy’s stock price has dropped by 3% so far in October, and it has decreased by 29% from its peak of ₹74.30 in May. The stock is currently trading below key moving averages on the daily chart, suggesting a potentially weak outlook. The stock appears to be approaching its key support line on the weekly chart, which is at ₹50.50. A break below this level could lead to a further decline towards ₹45, according to chart analysts.
The near-term outlook for Suzlon is likely to remain subdued as long as the stock price stays below ₹57. Key technical hurdles, including the 200-Day Moving Average (200-DMA) at ₹59.15 and the 100-DMA at ₹62, are presenting significant challenges for sustained growth.
Transformers & Rectifiers (India) (TRIL)
Current Price: ₹489
Likely Target: ₹605 / ₹435
Upside Potential: 23.7%
Downside Risk: 11%
Support: ₹494; ₹483; ₹475
Resistance: ₹528; ₹550; ₹570
TRIL is trading near its 200-DMA, located at ₹494, with key support levels identified at ₹483 and ₹475. The counter exhibits a cautiously positive bias as long as these support levels are respected.
On the upside, TRIL stock may attempt a rebound towards ₹605 levels. Intermediate resistance is anticipated around ₹528, ₹550, and ₹570. Conversely, a breakdown below the support zone could result in a slide to ₹435 levels, according to the monthly chart analysis.
