Suzlon, Adani Power, Waaree Energies: How to trade these 3 buzzing power stocks

Indian benchmark indices settled sharply lower on Friday as the traders continued to book profit amid consistent FIIs outflows and uncertainty over the US-India trade deals. BSE Sensex cracked 733.22 points, or 0.90 per cent, to settle at 80,426.46, while NSE's Nifty50 tanked 236.15 points, or 0.96 per cent, to close at 24,654.70 for the day.
 

Select buzzing power stocks including Suzlon Energy, Waaree Energies and Adani Power 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:
 

Waaree Energies | Target Price: Rs 3,450-3,600 | Stop Loss: Rs 3,050
Waaree Energies shows strong accumulation in the Rs 3,150–3,100 range on the daily charts. At present we are observing a correction of the previous rise. Now prices have come closer to the demand zone where buying is likely to emerge. Traders can consider holding their existing long positions at the current market price, with a strict stop-loss at Rs 3,050, the stock has potential to test Rs 3,450–3,600 over the coming weeks to months.
 

Adani Power | Target Price: Rs 49-46 | Stop Loss: Rs 58
Adani Power is showing a strong rally from Rs 105 to Rs 182 level, on the daily charts. At present we are observing a corrective move of previous rise. The stock is outperforming the benchmark indices and even RSI is positively poised. Considering the technical factors, traders are advised to hold their long positions at the current market price, with a stop loss at Rs 128. The stock has the potential to test Rs 182–196 in the coming weeks to months.
 

Suzlon Energy | Target Price: Rs 49-46 | Stop Loss: Rs 58
Suzlon Energy is maintaining a lower-top, lower-bottom formation on the daily charts, which signals prevailing weakness. Moreover, 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 market price, while keeping a stop loss at Rs 58. The stock has the potential to test Rs 49–46 in the coming weeks to months