IREDA, Kotak Mahindra Bank, ICICI Lombard GIC: How to trade these 3 buzzing stocks

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:

 

Indian Renewable Energy Development Agency | Caution | Resistance: Rs 163 | Support: Rs 137

For the past five weeks, fluctuations in IREDA have remained within a narrow range. This lack of clear direction calls for a decisive breakout, either above Rs 163 or below Rs 137, to establish the next move. A drop below Rs 137 could lead to a decline towards Rs 121 while sustained trading above Rs 163 might push the index up to Rs 185. Investors should monitor these levels closely for potential trading opportunities. Additionally, volume trends may provide further insight into the strength of any breakout or breakdown.

 

ICICI Lombard General Insurance Company | Buy | Target Price: Rs 1,910 | Stop Loss: Rs 1,700

ICICI Lombard GIC share price is exhibiting signs of a potential reversal with a strong support zone between Rs 1,700–1,720, where the stock has historically rebounded, indicating buying interest at lower levels. The weekly MACD is on the verge of a positive crossover, suggesting a possible recovery. The ADX indicates a strengthening trend and a positive DI crossover could further confirm the beginning of an uptrend. Considering this technical setup, we recommend buying ICICI GIC around Rs 1,780-1,760 with a stop loss at Rs 1,700 and a potential target of Rs 1,910.

 

Kotak Mahindra Bank | Hold | Support: Rs 1,900 | Resistance: Rs 2,250

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.