Waaree Energies, Dr Reddy's Labs, Hindustan Petroleum: How to trade these 3 buzzing stocks
An analyst from Mirae Asset Sharekhan said that Waaree Energies has endured a sharp correction, reflecting sector rotation out of renewables amid profit-taking and valuation concerns.
- Jan 21, 2026,
- Updated Jan 21, 2026 8:30 AM IST
Indian benchmark indices settled sharply lower on Tuesday on the back of weak global cues over Trump tariff threats. Besides this, consistent FIIs outflows, rising bond yields, weakness in the Indian rupee and weekly expiry of F&O contracts dented sentiments. BSE Sensex crashed 1,065.71 points, or 1.28 per cent, to settle at 82,180.47, while NSE's Nifty50 plunged 353 points, or 1.38 per cent, to close at 25,232.50.
Select buzzing result-bound stocks like Waaree Energies Ltd, Dr Reddys Laboratories Ltd and Hindustan Petroleum Corporation Ltd (HPCL) are likely to remain under the spotlight of traders for the session today. Here is what Kunal Shah, Senior Technical and Derivative Analyst at Mirae Asset ShareKhan has to say on them ahead of Wednesday's trading session:
Hindustan Petroleum Corporation | Book Profits | Resistance: Rs 460 | Support: Rs 430
Hindustan Petroleum continues trading in a downtrend, marked by lower tops and lower bottoms on daily and weekly charts, reflecting persistent oil marketing pressure and weak refining margins. The stock faces strong rejection in the Rs 460–464 zone and any pullback to this area offers a prime exit opportunity for longs or fresh short initiation with tight stops. Immediate support at Rs 430 (pivot S2/MA100); a closing break below would intensify selling pressure towards the Rs 400-375 zone.
Dr Reddy's Laboratories | Caution | Resistance: Rs 1,220 | Support: Rs 1,140
Dr Reddy's has delivered a clear breakdown on the weekly chart, invalidating prior support and confirming bearish control with increased volume on declines. Strong rejection persists at Rs 1,220 and any pullback to this zone represents an ideal exit for longs or short initiation opportunities, as sellers remain dominant. Trading in oversold territory, which may trigger tactical bounces, but bias stays negative. Lower-end support at Rs 1,140. A closing break below would intensify selling pressure towards the Rs 1,100 zone
Waaree Energies | Hold | Resistance: Rs 2,800-2,900 | Support: Rs 2,500
Waaree Energies has endured a sharp correction of over 15 per cent in the past month, reflecting sector rotation out of renewables amid profit-taking and valuation concerns. The stock now trades below short-term moving averages (20 DMA & 40 EMA), confirming short-term weakness and bearish bias. Technical indicators have entered oversold territory, suggesting exhaustion in selling pressure and potential for a technical rebound—watch for pullback to Rs 2,800–2,900 as a key rejection zone near pivot resistance. Immediate support at Rs 2,500 a closing break below this would invalidate rebound hopes and aggravate selling towards Rs 2,100–2,000.
Indian benchmark indices settled sharply lower on Tuesday on the back of weak global cues over Trump tariff threats. Besides this, consistent FIIs outflows, rising bond yields, weakness in the Indian rupee and weekly expiry of F&O contracts dented sentiments. BSE Sensex crashed 1,065.71 points, or 1.28 per cent, to settle at 82,180.47, while NSE's Nifty50 plunged 353 points, or 1.38 per cent, to close at 25,232.50.
Select buzzing result-bound stocks like Waaree Energies Ltd, Dr Reddys Laboratories Ltd and Hindustan Petroleum Corporation Ltd (HPCL) are likely to remain under the spotlight of traders for the session today. Here is what Kunal Shah, Senior Technical and Derivative Analyst at Mirae Asset ShareKhan has to say on them ahead of Wednesday's trading session:
Hindustan Petroleum Corporation | Book Profits | Resistance: Rs 460 | Support: Rs 430
Hindustan Petroleum continues trading in a downtrend, marked by lower tops and lower bottoms on daily and weekly charts, reflecting persistent oil marketing pressure and weak refining margins. The stock faces strong rejection in the Rs 460–464 zone and any pullback to this area offers a prime exit opportunity for longs or fresh short initiation with tight stops. Immediate support at Rs 430 (pivot S2/MA100); a closing break below would intensify selling pressure towards the Rs 400-375 zone.
Dr Reddy's Laboratories | Caution | Resistance: Rs 1,220 | Support: Rs 1,140
Dr Reddy's has delivered a clear breakdown on the weekly chart, invalidating prior support and confirming bearish control with increased volume on declines. Strong rejection persists at Rs 1,220 and any pullback to this zone represents an ideal exit for longs or short initiation opportunities, as sellers remain dominant. Trading in oversold territory, which may trigger tactical bounces, but bias stays negative. Lower-end support at Rs 1,140. A closing break below would intensify selling pressure towards the Rs 1,100 zone
Waaree Energies | Hold | Resistance: Rs 2,800-2,900 | Support: Rs 2,500
Waaree Energies has endured a sharp correction of over 15 per cent in the past month, reflecting sector rotation out of renewables amid profit-taking and valuation concerns. The stock now trades below short-term moving averages (20 DMA & 40 EMA), confirming short-term weakness and bearish bias. Technical indicators have entered oversold territory, suggesting exhaustion in selling pressure and potential for a technical rebound—watch for pullback to Rs 2,800–2,900 as a key rejection zone near pivot resistance. Immediate support at Rs 2,500 a closing break below this would invalidate rebound hopes and aggravate selling towards Rs 2,100–2,000.