Indian benchmark indices extended their weakness as Trump tariffs continued to spook the traders, adding to the pessimism amid the monthly expiry of August series. However, traders are awaiting the government’s initiative to boost the economy. BSE Sensex cracked 705.97 points, or 0.87 per cent, to settle at 80,080.57, while NSE’s Nifty50 tanked 211.15 points, or 0.85 per cent, to close at 24,500.90 for the day.
Select buzzing stocks including Waaree Energies, Jamna Auto and Sudarshan Chemicals are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services has to say about these stocks ahead of Friday’s trading session:
Sudarshan Chemical | Buy | Target Price: Rs 1,590-1,630 | Stop Loss: Rs 1,420
Prices of Sudarshan Chemical have given a consolidation breakout on the daily chart, as price closed above Rs 1,480 with a strong bullish candle and surge in volumes. The chart structure remains positive with a series of higher highs and higher lows, reflecting sustained bullishness. The chart structure highlights a breakout from a multi-week sideways range, reinforcing trend strength. Price action holds above all key moving averages, confirming momentum support. RSI is rising, signalling improving strength, while MACD remains in a positive crossover.
Jamna Auto | Buy | Target Price: Rs 110-114 | Stop Loss: Rs 93
Jamna Auto has confirmed a bullish reversal by breaking out of an inverse Head & Shoulders pattern on strong volumes. The price has smartly retraced around the neckline, validating the breakout. The chart structure shows higher highs and higher lows, reflecting sustained strength. Despite consolidation, the stock is holding above key moving averages, keeping momentum positive. RSI is trending upward and MACD has turned bullish, both supporting continued upside potential.
Waaree Energies | Buy | Target Price: Rs 3,750 | Stop Loss: Rs 3,190
Waaree Energies has given a breakout on the daily chart above horizontal resistance near Rs 3,290, supported by strong bullish candles and robust volumes, highlighting institutional participation. The price structure shows higher highs higher lows, reaffirming an uptrend. Momentum remains favorable as it trades above short and medium term moving averages, offering additional strength. RSI is trending higher without signs of exhaustion, while MACD has crossed into positive territory, confirming bullish momentum.
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