Buy Vedanta stock, stay cautious on IEX & United Spirits shares, suggest YES Securities
An analyst from YES Securities said that Vedanta has confirmed a significant technical breakout, signaling a potential reversal in its price trajectory, moving above a multi-month falling trendline.
- Jun 12, 2025,
- Updated Jun 12, 2025 7:57 AM IST
Indian benchmark indices settled on modestly higher on Wednesday amid the ongoing profit booking at the higher levels as traders await key economic data. BSE Sensex gained 123.42 points, or 0.15 per cent, to settle at 82,515.14, while NSE's Nifty50 added 37.15 points to close at 25,141.40 for the day.
Select buzzing stocks including Vedanta Ltd, Indian Energy Exchange Ltd (IEX), United Spirits Ltd are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to say about these stocks:
United Spirits | Caution | Resistance: Rs 1,650 | Support: Rs 1,455
United Spirits had a possible exhaustion in its upward momentum after reaching its peak. It has breached its 20-day and 50-day SMA’s, a violation of these levels typically suggests that the stock’s upward momentum has weakened, further confirming a bearish outlook. As we look ahead, the next expected support zone is between 1480-1455 which marks a previous demand area where buying interest helped lift the stock in the past. On the indicator front, the daily RSI has dropped below the 50 level, signaling weakness in the stock’s price action. Now stock could see further downside in the upcoming sessions unless a reversal or strong buying interest emerges.
Vedanta | Buy around Rs 458-462 | Target Price: Rs 498 Stop Loss: Rs 444
Vedanta has recently confirmed a significant technical breakout, signaling a potential reversal in its price trajectory. The stock has moved above a multi-month falling trendline, surpassing the Rs 460 mark. This technical signal is supported by increased trading volumes, indicating strong buying interest and the positive alignment of momentum oscillators, reflecting growing bullish momentum. Given these positive technical indicators, traders are advised to consider buying VEDL within the price range of Rs 458-462. To mitigate potential losses, a stop-loss should be set at Rs 444 on a closing basis. The anticipated price target for this trade is Rs 498, expected to be achieved in the coming days.
Indian Energy Exchange | Caution | Resistance: Rs 205 | Support: Rs 179
IEX has plummeted from its swing high of Rs 215 on the back of negative news flows. It has fallen around 8 per cent. The sharp selloff has pushed to drop below its 20- and 50-days moving average. Daily momentum indicator RSI is also showing negative cues. Going ahead, if the support zone of 184-179 is saved, an oversold bounce shall be expected towards Rs 202 -205 levels. On the flip side, a failure to hold the mentioned support would weaken the stock further and it can slip down till Rs 166-160 levels.
Indian benchmark indices settled on modestly higher on Wednesday amid the ongoing profit booking at the higher levels as traders await key economic data. BSE Sensex gained 123.42 points, or 0.15 per cent, to settle at 82,515.14, while NSE's Nifty50 added 37.15 points to close at 25,141.40 for the day.
Select buzzing stocks including Vedanta Ltd, Indian Energy Exchange Ltd (IEX), United Spirits Ltd are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to say about these stocks:
United Spirits | Caution | Resistance: Rs 1,650 | Support: Rs 1,455
United Spirits had a possible exhaustion in its upward momentum after reaching its peak. It has breached its 20-day and 50-day SMA’s, a violation of these levels typically suggests that the stock’s upward momentum has weakened, further confirming a bearish outlook. As we look ahead, the next expected support zone is between 1480-1455 which marks a previous demand area where buying interest helped lift the stock in the past. On the indicator front, the daily RSI has dropped below the 50 level, signaling weakness in the stock’s price action. Now stock could see further downside in the upcoming sessions unless a reversal or strong buying interest emerges.
Vedanta | Buy around Rs 458-462 | Target Price: Rs 498 Stop Loss: Rs 444
Vedanta has recently confirmed a significant technical breakout, signaling a potential reversal in its price trajectory. The stock has moved above a multi-month falling trendline, surpassing the Rs 460 mark. This technical signal is supported by increased trading volumes, indicating strong buying interest and the positive alignment of momentum oscillators, reflecting growing bullish momentum. Given these positive technical indicators, traders are advised to consider buying VEDL within the price range of Rs 458-462. To mitigate potential losses, a stop-loss should be set at Rs 444 on a closing basis. The anticipated price target for this trade is Rs 498, expected to be achieved in the coming days.
Indian Energy Exchange | Caution | Resistance: Rs 205 | Support: Rs 179
IEX has plummeted from its swing high of Rs 215 on the back of negative news flows. It has fallen around 8 per cent. The sharp selloff has pushed to drop below its 20- and 50-days moving average. Daily momentum indicator RSI is also showing negative cues. Going ahead, if the support zone of 184-179 is saved, an oversold bounce shall be expected towards Rs 202 -205 levels. On the flip side, a failure to hold the mentioned support would weaken the stock further and it can slip down till Rs 166-160 levels.