In the wake of positive global cues and record highs for NSE’s Nifty50, key stocks like YES Bank, Adani Enterprises, and Suzlon Energy are gaining attention. Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets, provides insights into trading strategies for these buzzing stocks, offering valuable guidance for Monday’s trading session. Investors keen on Dalal Street’s notable performers will find this analysis crucial for informed decision-making.
Adani Enterprises Analysis: Hold for Potential Gains
Recommendation: Target Price: Rs 2,470-2,560, Stop Loss: Rs 2,267
Analysis of Adani Enterprises reveals a lower top and lower bottom formation on daily charts, indicating potential weakness. The stock found support in the demand zone of Rs 2,140 – 2,160. Notably, the momentum indicator RSI shows positive divergence, hinting at continued upside momentum. Considering these factors, holding the stock at current levels is advised, with a suggested stop loss at Rs 2,267. The potential target is set at Rs 2,470-2,560 within the next couple of weeks. Investors should weigh these insights for informed decision-making.
YES Bank Analysis: Hold for Potential Upside
Recommendation: Target Price: Rs 23-25, Stop Loss: Rs 17
Observing YES Bank’s daily chart, a notable upward movement from 16 to 21 levels is evident, followed by a corrective phase. The stock has substantial support at the Rs 18 level and is exhibiting outperformance compared to benchmark indices. The recommendation is to hold the stock at present levels, with a suggested stop loss at Rs 17. The target for the next couple of weeks is set at Rs 23-25. Investors are advised to consider these factors for strategic decision-making.
Suzlon Energy Analysis: Hold for Potential Strength
Recommendation: Target Price: Rs 49-54Stop Loss: Rs 34
Examining Suzlon Energy’s daily chart reveals a higher high formation, indicative of strength. Additionally, the momentum indicator MACD is in positive territory, and the stock is displaying outperformance compared to benchmark indices. Considering these factors, the analysis suggests holding the stock at current levels, with a recommended stop loss at Rs 34. The target for the next couple of months is set at Rs 49-54. Investors are encouraged to assess these dynamics for informed decision-making.