BHEL, Vedanta, IDBI Bank: Target stocks to trade — Check key levels, target prices & stop loss

Indian equity benchmark indices saw profit booking on Wednesday ahead of key US inflation data. Sentiments remained muted amid weak cues led by elevated crude oil prices, weakness in the rupee and rising bond yields. The BSE Sensex tanked 251.89 points, or 0.34 per cent, to end at 72,781.89, while NSE's Nifty50 dropped 99.25 points, or 0.44 per cent, to settle at 22,622.70 for the day.

Select buzzing stocks including Vedanta, Bharat Heavy Electricals Ltd and IDBI Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vaishnavi Laxmikant Shukla, Technical Equities Research Analyst at YES Securities has to say about these stocks for Thursday's trading session:

IDBI Bank | Buy | Target Price: Rs 98 | Stop Loss: Rs 83
IDBI Bank Ltd has broken convincingly above its 200 SMA, turning that previous resistance into a supportive platform for further gains. Trading strength across all key moving averages reinforces the bullish sentiment. The chart structure suggests the uptrend should continue with the next target near Rs 98. Buying on pullbacks toward Rs 88 to Rs 87 while keeping a stop loss under Rs 83 can help preserve an attractive risk-reward setup as the broader trend remains positive.

Vedanta | Sell | Target Price: Rs 233 | Stop Loss: Rs 260
Vedanta Ltd has demonstrated a bearish sentiment as it gave breakdown from its rising trendline on the weekly chart. It is currently trading below all its bearish crossover 20 & 200 SMA’s accompanied by persistently lower daily RSI relative to its reference line. Formation of lower highs lows on the daily chart signals a continuation of weakness, emphasizing a bearish outlook. Recoveries should be utilized for selling opportunities.

Bharat Heavy Electricals | Buy | Target Price: Rs 485 | Stop Loss: Rs 440
BHEL has demonstrated resilience by finding strong support near its 20-day SMA, indicating that recent short-term weakness was effectively absorbed at lower levels. Technically, BHEL is now trading above a cluster of its key moving averages, reflecting an improvement in the overall trend structure. However, given that the stock has already appreciated nearly 5 per cent from recent levels, traders are advised to avoid chasing the rally and instead wait for a meaningful pullback to obtain a favourable risk-reward entry. Buy BHEL in the Rs 454-456 range on dips with a stop loss at Rs 440 and a target price of Rs 485. This setup offers an attractive upside potential while maintaining prudent risk management.