Sell Yes Bank, Suzlon Energy & RIL shares amid weakness suggests Arihant Capital

Indian benchmark indices continued to weaken and ended lower on Friday as the markets continued to assess the full impact of US tariffs, adding pressure on the INR. However, traders are awaiting the government's initiative to boost the economy. BSE Sensex dropped 270.92 points, or 0.34 per cent, to settle at 79,809.65, while NSE's Nifty50 plunged 74.05 points, or 0.30 per cent, to close at 24,545.80 for the day.
 

Select buzzing stocks including YES Bank, Suzlon Energy and Reliance Industries (RIL) are likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say about these stocks ahead of Monday's trading session:
 

Reliance Industries | Sell | Target Price: Rs 1,250-1,200 | Stop Loss: Rs 1,400

Reliance Industries continues to exhibit a lower-top, lower-bottom formation on the daily charts, indicating prevailing weakness in the trend. The momentum indicator RSI is negatively poised, while the stock is also underperforming the benchmark indices, reinforcing the bearish outlook. Based on the prevailing technical indicators, traders are advised to maintain their short positions at the current levels, while keeping a strict stop loss at Rs 1,400. The stock shows potential to extend its weakness and may test the downside target zone of Rs 1,250-1,200 over the coming weeks to months.
 

YES Bank | Sell | Target Price: Rs 14-12 | Stop Loss: Rs 21

YES Bank is maintaining a lower-top, lower-bottom formation on the daily charts, which is a sign of prevailing weakness. The momentum indicator RSI is negatively poised, and the stock is underperforming the benchmark indices. Given these technical indicators, traders are advised to hold their short positions at the current levels, with a stop loss at Rs 21. The stock has the potential to test the downside target range of Rs 14-12 in the coming weeks to months.
 

Suzlon Energy | Sell | Target Price: Rs 48-44 | Stop Loss: Rs 60

Suzlon Energy is maintaining a lower-top, lower-bottom formation on the daily charts, which signals prevailing weakness. The momentum indicator RSI is negatively poised, and the stock is underperforming the benchmark indices. Considering these technical factors, traders are advised to hold their short positions at the current levels of Rs 56, while keeping a stop loss at Rs 60. The stock has the potential to test the downside target zone of Rs 48-44 in the coming weeks to months.