Buy Dr Reddy's & IRB Infra shares; sell JSW Energy stock, says YES Securities

Indian benchmark indices kicked-off 2025 on a strong note on Monday as the Dalal Street is approaching Q3 results for India Inc. BSE Sensex jumped 368.40 points, or 0.47 per cent, to end the session at 78,507.41. However, NSE's Nifty50 gained 98.10 points, or 0.41 per cent, to settle at 23,742.90 for the day.

Some buzzing stocks including Dr Reddy's Laboratories Ltd (Dr Reddy's Labs), IRB Infrastructure Developers Ltd (IRB Infra), JSW Energy Ltd are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Manager - Technical Research at YES Securities has to say on these stocks ahead of Thursday's trading session:

Dr Reddy's Laboratories | Buy | Target Price: Rs 1,500 | Stop Loss: Rs 1,310

Dr. Reddy's Labs has demonstrated strong bullish momentum, consistently trading above key moving averages. This robust uptrend and positive technical indicators suggest a potential breakout is imminent which could generate significant momentum in the near term. We recommend a buy position in Dr Reddy's at a price range of Rs 1,350-1,360 with a stop-loss at Rs 1,310 and a target price range of Rs 1,460-1,500, aiming to capitalize on the anticipated upward movement and potential for new highs in the stock price.

JSW Energy | Sell | Target Price: Rs 580 | Stop Loss: Rs 700

JSW Energy has reversed downward from the resistance line on the daily chart, highlighting bearish dominance. The Ichimoku Cloud's conversion line has served as immediate resistance, maintaining a bearish outlook and reinforcing negative sentiment. Prices are currently trading below the convergence line, which could intensify selling pressure. Additionally, the daily MACD remains in negative territory, further supporting the possibility of a continued downtrend. The overall trend for JSW Energy appears negative. A 'sell on rise' strategy is advised with an entry around Rs 655-665, a target of Rs 580, and a stop-loss at Rs 700.

IRB Infrastructure Developers | Buy | Target Price: Rs 71 | Stop Loss: Rs 53

IRB Infra witnessed a significant surge in price and volume during the last trading session, breaking out from a cluster of key SMAs on the daily chart. The stock has also rebounded from the 50% Fibonacci retracement level of its recent rally, indicating a continuation of its uptrend. Furthermore, the 14-period RSI has displayed a positive crossover, aligning with the recent price action and reinforcing the bullish outlook. Based on this analysis, we recommend to 'buy' IRB Infra around Rs 58-59, with a stop-loss at Rs 53 and an upside target of Rs 71.