Indian equity benchmarks ended lower on Friday, even as the headline indices managed a sharp recovery in the second half of the session. However, the rise in crude oil prices and jump in the bond yields weighed on the market sentiments. The BSE Sensex shed 120.83 points, or 0.18 per cent, to end at 74,781.76, NSE's Nifty50 tanked 79.70 points, or 0.34 per cent, to settle at 23,398.10 for the day.
Select buzzing stocks including YES Bank, Indus Towers and Cochin Shipyard are likely to remain under the spotlight of traders for the session today. Here is what Muthuselvaraj M, Research Analyst at Mirae Asset Sharekhan has to say on them ahead of Tuesday's trading session:
Indus Tower | Buy | Target Price: Rs 422-435 | Stop Loss: Rs 360
Indus Tower Ltd has turned positive after finding support at the swing low, following a correction from its peak of Rs 480. A break above Rs 391 shows potential for a move towards the Rs 422-435 range, with key support at 360 for the short to medium term. The price is supported by the 50 & 20-day EMA at Rs 386 and Rs 378, while the RSI remains resilient, holding above 55. We believe the stock is likely to continue its upward momentum in the near future.
Cochin Shipyard | Caution | Resistance: Rs 1,585 | Support: Rs 1,350
Cochin Shipyard Ltd has been consolidating after facing rejection at its swing high of Rs 1,765. The stock is expected to correct below Rs 1,355, which could trigger a move toward the key support at 1,300, representing the 78 per cent retracement level. The MACD indicator shows a negative crossover, suggesting a sideways trend. It is trading below all short-term exponential moving averages, indicating persistent weakness in the short to medium term. Market sentiment remains neutral, with a clear direction expected only upon a breakout above Rs 1,585 or a breakdown below Rs 1,350. The stock’s outlook is sideways to negative in the near term.
YES Bank | Hold | Target Price: Rs 25-26 | Support: Rs 21
YES Bank Ltd has shown positive momentum after finding support at its swing low of Rs 22 on the daily chart, suggesting that this trend may continue toward the Rs 25-26 range in the short to medium term. Conversely, a break below the 21 support level could trigger a decline toward 20. Momentum indicators, including both RSI and MACD remain strong, with readings above 60 and positive crossovers across multiple time frames, signaling sustained buying interest. Overall, the stock maintains a strong positive bias for the short to medium term.
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