Buy India Cement stock, cautious on Infosys, IndusInd Bank shares, suggests YES Securities

Indian benchmark indices settled with big gains on Wednesday on the back of positive global cues including the US and Japan trade deal amid rich valuations and consistent FII selling. BSE Sensex jumped 539.83 points, or 0.66 per cent, to settle at 82,726.64, while NSE's Nifty50 surged 159 points, or 0.63 per cent, to close at 25,219.90 for the day.
 

Select buzzing stocks including IndusInd Bank, India Cements and Infosys likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to say about these stocks ahead of Thursday trading session:
 

Infosys | Caution | Resistance: Rs 1,615 | Support: Rs 1,540

Infosys is showing bearish signals, indicating a downtrend on the daily timeframe. The stock is currently positioned for a breakdown below its horizontal support line.  For sellers to establish firm control, it needs to decisively fall below the Rs 1,540 level. This bearish outlook is reinforced by the price trading below its key SMAs, signaling underlying weakness. Furthermore, the MACD indicator supports this negative sentiment as its line has moved into negative territory, confirming increased selling interest.  This bearish trend is expected to continue as long as Infosys remains below the Rs 1,600-1,615 resistance zone.
 

India Cements | Buy | Target Price: Rs 405 | Stop Loss: Rs 345

India Cements experienced a notable turnaround yesterday with strong buying activity leading to a bullish belt hold candlestick formation. This powerful move reversed the recent two-day correction and broke the downtrend of lower highs and lower lows. The positive shift is further supported by increased trading volumes and a bullish MACD crossover, indicating strong underlying momentum.  Given the attractive risk-reward ratio, we expect India Cements to continue its upward trajectory. We recommend buying India Cements in the range of Rs 360–365 with a stop loss at Rs 345 and a target price of Rs 405.
 

IndusInd Bank | Caution | Resistance: Rs 890 | Support: Rs 810

In the past 2-3 days, IndusInd Bank has faced downward pressure, leading to a gradual decline in its stock price towards the key support zone around Rs 830-810, near its 50 SMA. This level is also significant due to the presence of a line of parity which may provide additional support. If these support levels hold, we could see a rebound towards the Rs 890-900 range. Conversely, if the support fails, the selling pressure is likely to continue, potentially driving the stock down to Rs 780 and Rs 750 levels.