Business & Economy

“Analyst Unveils Trading Tips for YES Bank, Adani Enterprises, and Suzlon Energy’s Buzzing Stocks”

Dalal Street is abuzz with potential trading opportunities for YES Bank, Adani Enterprises, and Suzlon Energy, according to Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets. Here’s a breakdown of their trading strategies for the upcoming session:

Adani Enterprises

On the daily charts, Adani Enterprises displays a lower top and lower bottom formation, indicating weakness. The stock found support in the demand zone of Rs.2,140 – Rs.2,160. Despite the weakness, positive divergence in the momentum indicator (RSI) suggests an upward momentum. Traders are advised to hold the stock at current levels with a stop loss of Rs.2,267 and a target price ranging between Rs.2,470 to Rs.2,560 within the next couple of weeks.

YES Bank

YES Bank’s daily chart reflects a sharp upward movement from Rs.16 to Rs.21, followed by a correction. The stock has substantial support around the Rs.18 level and is outperforming benchmark indices. Traders are recommended to hold the stock at current levels, setting a stop loss at Rs.17. The target price is set between Rs.23 to Rs.25 within the next couple of weeks.

Suzlon Energy

Suzlon Energy exhibits a higher formation on its daily chart, indicating strength. The momentum indicator, MACD, is positively poised, and the stock is outperforming benchmark indices. Combining these factors, there’s an indication that the upward momentum may continue. Traders are advised to hold the stock at current levels with a stop loss of Rs.34. The target price is set between Rs.49 to Rs.54 within the next couple of months.

These trading strategies come amid positive global cues and a notable surge in Indian indices. The BSE’s Sensex rose 492.75 points, or 0.74%, closing at 67,481.19, while NSE’s Nifty50 increased by about 135 points, or 0.67%, ending the day at 20,267.90. The analyst from Arihant Capital suggests a ‘hold’ rating on all three stocks for the near term, considering the observed technical patterns and potential price movements.

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