'Buy' Waaree Energies, Britannia shares; 'Sell' Shriram Finance, says Religare Broking
Waaree Energies: The stock, last traded at Rs 3,321.10, has rebounded sharply from post-listing lows and recently broke above resistance near Rs 3,300 with strong price-volume action. The brokerage expects the uptrend to extend towards Rs 3,500, while recommending a stop-loss at Rs 3,150.
- Aug 26, 2025,
- Updated Aug 26, 2025 6:32 PM IST
Benchmark Nifty50 on Tuesday slipped below its immediate support at the 20-day exponential moving average (20-DEMA) to close at 24,712.05, while the sub-index, Nifty Bank, ended at 54,450.45 after breaching its critical base around 54,900. According to Religare Broking, further downside cannot be ruled out as Nifty is expected to fill the recent gap and retest its medium-term moving average near 24,600.
The domestic brokerage noted that the banking index has been underperforming and has now slipped decisively below its 100-day EMA, highlighting a continuation of the bearish trend. A sustained move below the 54,000 mark could extend the decline towards 53,500, which coincides with the 200-day EMA and the June 2025 low. In the current scenario, Religare advised traders to adopt a sell-on-rise approach, with rebounds towards 54,900–55,000 likely to face strong resistance.
In its weekly technical picks, the brokerage maintained a positive stance on Waaree Energies Ltd, assigning a 'Buy' recommendation. The stock, last traded at Rs 3,321.10, has rebounded sharply from post-listing lows and recently broke above resistance near Rs 3,300 with strong price-volume action. The brokerage expects the uptrend to extend towards Rs 3,500, while recommending a stop-loss at Rs 3,150.
Britannia Industries Ltd was also highlighted for its strength in the FMCG space, with the brokerage giving a 'Buy' call. Trading at Rs 5,751, the stock has formed a cup-and-handle pattern after recovering from its 200-weekly EMA. A sustained move above Rs 5,900 could open the way for a rally towards Rs 6,150, with a stop-loss at Rs 5,570.
Meanwhile, Shriram Finance Ltd’s September futures remained under pressure, with the brokerage placing a 'Sell' call. At Rs 599.90, the stock has broken below its upward trendline and 200 EMA with strong volumes, indicating weakness. Religare Broking set a downside target of Rs 560 with resistance at Rs 620.
Indian equity benchmarks slipped today, dragged lower by continued selling in banks, financials, consumer durables, pharma and healthcare counters. The indices will remain shut on Wednesday, August 27, on account of 'Ganesh Chaturthi'.
Benchmark Nifty50 on Tuesday slipped below its immediate support at the 20-day exponential moving average (20-DEMA) to close at 24,712.05, while the sub-index, Nifty Bank, ended at 54,450.45 after breaching its critical base around 54,900. According to Religare Broking, further downside cannot be ruled out as Nifty is expected to fill the recent gap and retest its medium-term moving average near 24,600.
The domestic brokerage noted that the banking index has been underperforming and has now slipped decisively below its 100-day EMA, highlighting a continuation of the bearish trend. A sustained move below the 54,000 mark could extend the decline towards 53,500, which coincides with the 200-day EMA and the June 2025 low. In the current scenario, Religare advised traders to adopt a sell-on-rise approach, with rebounds towards 54,900–55,000 likely to face strong resistance.
In its weekly technical picks, the brokerage maintained a positive stance on Waaree Energies Ltd, assigning a 'Buy' recommendation. The stock, last traded at Rs 3,321.10, has rebounded sharply from post-listing lows and recently broke above resistance near Rs 3,300 with strong price-volume action. The brokerage expects the uptrend to extend towards Rs 3,500, while recommending a stop-loss at Rs 3,150.
Britannia Industries Ltd was also highlighted for its strength in the FMCG space, with the brokerage giving a 'Buy' call. Trading at Rs 5,751, the stock has formed a cup-and-handle pattern after recovering from its 200-weekly EMA. A sustained move above Rs 5,900 could open the way for a rally towards Rs 6,150, with a stop-loss at Rs 5,570.
Meanwhile, Shriram Finance Ltd’s September futures remained under pressure, with the brokerage placing a 'Sell' call. At Rs 599.90, the stock has broken below its upward trendline and 200 EMA with strong volumes, indicating weakness. Religare Broking set a downside target of Rs 560 with resistance at Rs 620.
Indian equity benchmarks slipped today, dragged lower by continued selling in banks, financials, consumer durables, pharma and healthcare counters. The indices will remain shut on Wednesday, August 27, on account of 'Ganesh Chaturthi'.