YES Securities Buys: Waaree, Kalyan, Welspun Stock Picks
By ThePip Desk
YES Securities analyst recommends ‘Buy’ for Waaree Energies, Kalyan Jewellers, and Welspun Corp with target prices and stop-losses. Market update included.
Indian equity markets experienced significant gains on Wednesday, driven by renewed FII inflows into the IT sector and strategic stock acquisitions. The BSE Sensex closed at 77,654.60, up 1.16%, while the Nifty50 climbed 1.10% to 24,250.20.
Amidst this market uplift, Laxmikant Shukla, a Technical Analyst at YES Securities, has issued specific trading recommendations for Thursday’s session. These insights target Waaree Energies, Welspun Corp Ltd, and Kalyan Jewellers India Ltd.
Kalyan Jewellers India Outlook
Kalyan Jewellers India received a ‘Buy’ recommendation from YES Securities, supported by a decisive breakout from its pole & flag pattern. The stock now trades above key moving averages, signaling a sustained uptrend.
- Recommendation: ‘Buy’
- Target Price: Rs 680
- Stop Loss: Rs 560
- Potential Range: Rs 680-700
- Suggested Entry: Buy on dips towards Rs 595–600
Waaree Energies Analysis
Waaree Energies also received a ‘Buy’ rating, despite currently being in a dominant bearish trend marked by consistent lower highs and lower lows. This indicates ongoing selling pressure in the short term.
- Recommendation: ‘Buy’
- Resistance Level: Rs 2,850
- Support Level: Rs 2,600
- Short-term Support Zone: Anticipated around Rs 2,650 to Rs 2,600
- Trend Shift Signal: Decisive move above Rs 2,850 to Rs 3,000 resistance zone
Welspun Corp’s Bullish Momentum
Welspun Corp was recommended as a ‘Buy’, poised for a consolidation breakout following a period of retracement. The stock shows renewed upward momentum, trading above all key moving averages with a positive daily RSI crossover.
- Recommendation: ‘Buy’
- Target Price: Rs 1,980
- Stop Loss: Rs 1,560
- Technical Indicator: Daily RSI indicates a positive crossover, reinforcing bullish sentiment.
- Current Levels: Attractive for new long positions with favorable risk-reward.
These recommendations by Laxmikant Shukla provide specific, actionable levels for traders looking to capitalize on current market movements. The outlined target prices and stop-loss levels offer a structured approach for Thursday’s trading session.