Yes Bank, Adani Enterprises, Suzlon Energy: Trading strategies for these talked-about stocks
Adani Enterprises hold on Target price: Rs 2,470-2,560 Stop loss: Rs 2,267
On the daily chart of Adani Enterprises, we see a lower top and lower bottom formation, which is a sign of weakness. The stock has found support in the demand zone of Rs 2,140 – 2,160. Furthermore, the speed indicator viz. The RSI is giving positive divergence, which suggests that the uptrend is likely to continue. Hence, one can hold this stock at current prices with a stop loss of Rs 2,267 for a target of Rs 2,470-2,560 in a few weeks.
Yes Bank hold on Target price: Rs 23-25 Stop Loss: Rs 17
The daily chart of Yes Bank shows that the prices rose sharply from 16 to 21 levels. Currently, we are seeing a reversal of the previous uptrend. The share has good support at the level of Rs 18. The stock has even started outperforming the benchmark indices. Hence, the stock can be held at current levels with a stop loss of Rs 17 for a target of Rs 23-25 in the next few weeks.
Suzlon Energy hold on Target price: Rs 49-54 Stop Loss: Rs 34
The daily chart of Suzlon Energy shows a higher formation, which is a sign of strength. Furthermore, the speed indicator viz. MACD is trending positive, and the stock is also outperforming the benchmark indices. Combining the above parameters, it is clear that the rally may continue. Hence, the stock can be held at current levels with a stop loss of Rs 34 for a target of Rs 49-54 in the next few months.