Trading the Buzz: YES Bank, Adani Enterprises, Suzlon Energy – Strategies for Bulls and Bears
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Trading the Buzz: YES Bank, Adani Enterprises, Suzlon Energy – Strategies for Bulls and Bears

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Trading the Buzz: YES Bank, Adani Enterprises, Suzlon Energy – Strategies for Bulls and Bears

Indian markets soared to new peaks on Friday, fueled by positive global cues and broad-based buying. Amidst this bullish landscape, three prominent stocks – Adani Enterprises, YES Bank, and Suzlon Energy – are expected to remain under traders’ scrutiny today, Monday. Let’s delve into the technical analysis of each, courtesy of Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets.

Adani Enterprises: Bullish Consolidation or Ready to Break Out?

Adani Enterprises, the crown jewel of the Adani Group, has been consolidating in a range of Rs. 2,200-2,495 for some time now. This sideways movement could be interpreted in two ways:

  • Bullish Consolidation: Vasudeo sees this as a period of healthy accumulation before a potential breakout. A decisive move above Rs. 2,495 could signal the start of a sustained uptrend, with targets of Rs. 2,800-2,900 on the horizon.

  • Resistance at Rs. 2,495: However, bears remain cautious. They believe the stock might face stiff resistance around Rs. 2,495. If it fails to break through, a pullback towards Rs. 2,200-2,090 could materialize.

Trading Strategies:

  • Bullish: For those anticipating a breakout, buying on dips near Rs. 2,450-2,470 with a stop loss below Rs. 2,420 could be a viable strategy.
  • Bearish: Traders expecting a pullback could consider shorting near Rs. 2,495 with a stop loss above Rs. 2,520. Option strategies like put buying can also be employed for downside protection.
Trading the Buzz: YES Bank, Adani Enterprises, Suzlon Energy - Strategies for Bulls and Bears
Trading the Buzz: YES Bank, Adani Enterprises, Suzlon Energy – Strategies for Bulls and Bears  (Image Source: Google)

YES Bank: Building Momentum or Facing Exhaustion?

YES Bank has been on a tear lately, climbing over 50% from its 52-week low. This impressive rally has raised questions about its sustainability:

  • Bullish Momentum: Vasudeo highlights the stock’s strong momentum, evident in its sustained uptrend and breakouts. A continued move above Rs. 23 could pave the way for targets of Rs. 25-30.

  • Exhaustion Signs: However, some technical indicators suggest potential exhaustion at current levels. A failure to break above Rs. 23 could lead to a consolidation or even a correction towards Rs. 18-16.

Trading Strategies:

  • Bullish: Holding existing positions with a trailing stop loss above Rs. 21 could be sensible for bullish investors. Option buying strategies like call spreads can also be considered to capitalize on further upside.
  • Bearish: Traders expecting a correction could look to book profits near Rs. 23 or initiate short positions with a stop loss above Rs. 25. Selling call options could be another option for bearish bets.

Suzlon Energy: Wind Beneath its Wings or Facing Headwinds?

Suzlon Energy has been a star performer this year, with its stock price skyrocketing over 300%. But can it sustain this meteoric rise?

  • Bullish Continuation: Vasudeo sees the potential for further upside, citing a strong uptrend and positive technical indicators. A break above Rs. 42 could fuel a move towards Rs. 50.

  • Profit Booking: Given the substantial gains already, some profit bookings near Rs. 42-43 by existing holders could be prudent.

Read This Also: Tata Technologies IPO Allotment: How to Check Your Status

Trading Strategies:

  • Bullish: Buying on dips near Rs. 39-40 with a stop loss below Rs. 38 could be a good entry point for those bullish on the long-term story. Call options can also be used to leverage potential breakouts.
  • Bearish: While shorting appears less appealing due to the strong uptrend, selling call options near resistance levels could be a way to profit from a potential consolidation or pullback.

Remember, these are just technical analyses, and other factors like market sentiment and news flow can also influence the stocks’ trajectories. Always do your research and consult a financial advisor before making any investment decisions.


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