Waaree Energies, Adani Ports, Adani Energy, Kaynes & NCC shares: Centrum's Nilesh Jain weighs in

Nilesh Jain, Assistant Vice-President for Derivative and Technical Research at Centrum Broking, expects a pullback move in Nifty during the January series, with the index likely to head towards the 25,800–26,000 zone. He shared his views on select stocks, including Waaree Energies, NCC, Adani Energy Solutions, Adani Ports and Special Economic Zone, and Kaynes Technology India, in an interaction with Business Today on Monday.

Responding to a query on Waaree Energies Ltd, Jain said the stock has a strong support placed around Rs 2,400 level. He advised investors to continuously review their positions as and when quarterly results are announced. According to him, the overall chart structure of the stock continues to remain positive.

On infrastructure major NCC Ltd, Jain noted that the stock's short-to-medium-term outlook appears sideways to weak. He identified Rs 138 as a key stop-loss level for existing positions. However, he added that if the stock manages to break above Rs 155, it could see a short-to-medium-term pullback, potentially moving towards the Rs 200 mark.

Sharing his view on Adani Energy Solutions Ltd, Jain said the stock is currently showing weakness. He suggested that investors should consider averaging their holdings and look to exit at higher levels. For those who wish to stay invested, he recommended maintaining a strict stop loss at Rs 925. He added that a decisive move above Rs 1,000 could open the door for a further follow-up move.

Commenting on Adani Ports and Special Economic Zone Ltd, Jain said the broader chart structure remains positive. He highlighted that any dip towards the Rs 1,380–1,350 range could serve as a good initial level for averaging. From a positional perspective, he said the stock appears well-placed for targets of Rs 1,600 and above.

On Kaynes Technology India Ltd, Jain maintained a cautious stance, advising investors to avoid the stock at current levels. He said a fresh position could be considered only if the stock breaks above Rs 4,000 level, adding that there are no clear reversal signals at present.