IREDA, Kotak Mahindra Bank, ICICI Lombard GIC: How to trade these 3 buzzing stocks
An analyst from YES Securities said that Kotak Bank formed an ‘Inside bar’ candlestick pattern on the weekly chart, near the previous swing high of Rs 2,250.
- Apr 11, 2025,
- Updated Apr 11, 2025 7:34 AM IST
Indian benchmark indices continued to settle lower on Wednesday, following RBI's monetary policy rate cuts on the back of Trump tariff concerns. Traders are awaiting India Inc's earnings for the March 2025 quarter. BSE Sensex declined 379.93 points, or 0.51 per cent to settle at 73,847.15, while NSE's Nifty50 tumbled 136.70 points, or 0.61 per cent to 22,399.15.
Select buzzing stocks including Indian Renewable Energy Development Agency (IREDA), ICICI Lombard General Insurance Company and Kotak Mahindra Bank are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to about these stocks ahead of Friday's trading session:
Kotak Mahindra Bank is currently facing resistance near its recent swing high of Rs 2,200-2,250 zone. Last week's trading session formed an ‘Inside bar’ candlestick pattern on the weekly chart, precisely at the key resistance zone near the previous swing high of Rs 2,250. Despite this, the stock has solid support at Rs 1,900. A positive outlook remains valid as long as it stays above Rs 1,900. A breakout above Rs 2,250 could drive the stock higher towards uncharted territory.
Indian benchmark indices continued to settle lower on Wednesday, following RBI's monetary policy rate cuts on the back of Trump tariff concerns. Traders are awaiting India Inc's earnings for the March 2025 quarter. BSE Sensex declined 379.93 points, or 0.51 per cent to settle at 73,847.15, while NSE's Nifty50 tumbled 136.70 points, or 0.61 per cent to 22,399.15.
Select buzzing stocks including Indian Renewable Energy Development Agency (IREDA), ICICI Lombard General Insurance Company and Kotak Mahindra Bank are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to about these stocks ahead of Friday's trading session:
Kotak Mahindra Bank is currently facing resistance near its recent swing high of Rs 2,200-2,250 zone. Last week's trading session formed an ‘Inside bar’ candlestick pattern on the weekly chart, precisely at the key resistance zone near the previous swing high of Rs 2,250. Despite this, the stock has solid support at Rs 1,900. A positive outlook remains valid as long as it stays above Rs 1,900. A breakout above Rs 2,250 could drive the stock higher towards uncharted territory.