Suzlon, Waaree Energies, Vedanta Power: Top stocks to trade — Check key levels, targets & stop loss
An analyst from Axis Direct said that Nuvama has confirmed the breakout above the past five months' 'down-sloping trendline' at the Rs 1,842 level on a closing basis.
- Nov 5, 2026,
- Updated Nov 5, 2026 9:09 AM IST
Indian equity benchmark indices extended their gains as the risk appetite improved amid US midterm elections outcome, hinting at more measured approach towards trade and tariffs. Domestic cues also remained supportive. The BSE Sensex soared 383.55 points, or 0.50 per cent, to end at 77,301.40, while NSE's Nifty50 jumped 149.75 points, or 1.58 per cent, to settle at 23,810.85 for the day.
Select buzzing utilities stocks including Suzlon Energy Ltd, Waaree Energies and Vedanta Power are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
Vedanta Power | Buy | Target Price: Rs 45 | Stop Loss: Rs 30 Vedanta Power Ltd has given a falling trendline breakout on the daily chart with decent volumes highlights upward momentum in price. The multi-week base formation formed at the polarity support suggesting bullish price action. Furthermore, the stock has formed bullish belt hold candlestick pattern at central band of Bollinger which denotes expansion in the volatility on the higher side. As the stock is in bullish trend, the current levels can be considered as a buying opportunity with a stop loss below Rs 30 on a closing basis for the upside target of Rs 45.
Suzlon Energy | Avoid | Resistance: Rs 42 | Support: Rs 33 Suzlon continues to exhibit a clear bearish structure, marked by persistent lower highs and lower lows. A minor support exists near Rs 33 but unless the price delivers a meaningful rebound from this zone, downside pressure is likely to prevail. The broader trend remains cautious, and only a decisive move above the Rs 42–45 resistance band would signal a potential shift toward a more constructive trajectory.
Waaree Energies | Avoid | Resistance: Rs 2,500 | Support: Rs 2,160 Waaree Energies Ltd remains entrenched in a primary bearish trend, maintaining a consistent structure of lower highs and lower bottoms that underscores ongoing selling pressure. Although a temporary floor was established near Rs 2,160 due to the presence of positive divergence but it could face hurdles near its 50 SMA’s. Until the stock decisively hurdles the formidable Rs 2,470–2,500 resistance zone, the broader outlook remains cautious as only a move above this barrier would signal a meaningful shift in the current trend.
Indian equity benchmark indices extended their gains as the risk appetite improved amid US midterm elections outcome, hinting at more measured approach towards trade and tariffs. Domestic cues also remained supportive. The BSE Sensex soared 383.55 points, or 0.50 per cent, to end at 77,301.40, while NSE's Nifty50 jumped 149.75 points, or 1.58 per cent, to settle at 23,810.85 for the day.
Select buzzing utilities stocks including Suzlon Energy Ltd, Waaree Energies and Vedanta Power are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
Vedanta Power | Buy | Target Price: Rs 45 | Stop Loss: Rs 30 Vedanta Power Ltd has given a falling trendline breakout on the daily chart with decent volumes highlights upward momentum in price. The multi-week base formation formed at the polarity support suggesting bullish price action. Furthermore, the stock has formed bullish belt hold candlestick pattern at central band of Bollinger which denotes expansion in the volatility on the higher side. As the stock is in bullish trend, the current levels can be considered as a buying opportunity with a stop loss below Rs 30 on a closing basis for the upside target of Rs 45.
Suzlon Energy | Avoid | Resistance: Rs 42 | Support: Rs 33 Suzlon continues to exhibit a clear bearish structure, marked by persistent lower highs and lower lows. A minor support exists near Rs 33 but unless the price delivers a meaningful rebound from this zone, downside pressure is likely to prevail. The broader trend remains cautious, and only a decisive move above the Rs 42–45 resistance band would signal a potential shift toward a more constructive trajectory.
Waaree Energies | Avoid | Resistance: Rs 2,500 | Support: Rs 2,160 Waaree Energies Ltd remains entrenched in a primary bearish trend, maintaining a consistent structure of lower highs and lower bottoms that underscores ongoing selling pressure. Although a temporary floor was established near Rs 2,160 due to the presence of positive divergence but it could face hurdles near its 50 SMA’s. Until the stock decisively hurdles the formidable Rs 2,470–2,500 resistance zone, the broader outlook remains cautious as only a move above this barrier would signal a meaningful shift in the current trend.