YES Bank, Waaree Energies, Dixon Technologies: How to trade these 3 buzzing stocks

Indian benchmark indices settled sharply lower on Friday amid weak global cues and rising geopolitical risks. AI-disruptions related concerns also dented the sentiments for the traders. The BSE Sensex crashed 961.42 points, or 1.17 per cent, to close at 81,287.19, while NSE’s Nifty50 plunged 317.90 points, or 1.25 per cent, to end at 25,178.65 for the day.

Select buzzing stocks including Dixon Technologies (India), Waaree Energies and YES Bank 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 Ltd has to say on them ahead of Monday’s trading session:
 

Waaree Energies | Target Price: Rs 2,590-2,530 | Stop Loss: Rs 2,770

We are observing a lower top lower bottom formation in Waaree Energies Ltd on the daily chart, which is a sign of weakness. The stock is underperforming the benchmark indices and even momentum indicator RSI is negatively poised. Hence, momentum on the downside is likely to continue. Traders can consider holding their short position at the current market price of around Rs 2,710, with a strict stop-loss at Rs 2,770, the stock has potential to test Rs 2,590–2,530 over the coming weeks to months.
 

YES bank | Target Price: Rs 16-14 | Stop Loss: Rs 22

We are observing a lower top lower bottom formation in YES Bank Ltd on the daily charts which is a sign of weakness. Currently the stock has started trading below the 200-days SMA (21.19) and even the momentum indicator RSI is negatively poised. Hence, momentum on the downside is likely to continue. Traders can consider holding their short position at the current market price of around Rs 20.70, with a strict stop-loss at Rs 22, the stock has potential to test Rs 16–14 over the coming weeks to months.
 

Dixon Technologies | Target Price: Rs 11,500-12,000 | Stop Loss: Rs 10,000

Prices of Dixon Technologies (India) Ltd are making lower low formation on the daily chart, which is a sign of weakness. However, the fall looks very extended and is on the verge of giving a pullback rally in a downtrend. Even the momentum indicator RSI is positively poised. Considering the technical factors, traders are advised to hold their long positions at the current levels of Rs 10,520, with a stop loss at Rs 10,000. The stock has the potential to test Rs 11,500–12,000 in the coming weeks to months.