Indian equity markets concluded Friday's trading session lower, influenced by elevated crude oil prices and concerns over inflation's impact on growth prospects. The BSE Sensex declined by 331.62 points (0.43%) to close at 76,059.77, while the NSE Nifty50 fell 102.15 points (0.43%) to end at 23,767.45.
Against this backdrop, traders are closely watching select stocks for potential movements. Muthuselvaraj M, a research analyst at Mirae Asset Sharekhan, has provided key trading insights for YES Bank, Inox Wind, and Multi Commodity Exchange of India (MCX) ahead of Monday's session.
Inox Wind: Caution Advised Amidst Sideways Trend
Inox Wind has exhibited a negative bias, characterized by a pattern of lower tops and lower bottoms since June 2025. The stock has undergone a significant correction, falling over 60% from its peak of approximately Rs 200 in June 2025. Despite this, the analyst notes a potential shift from a negative to a neutral trend.
Momentum indicators have entered the oversold zone, suggesting the stock might enter a sideways consolidation phase. A crucial resistance level stands at Rs 90. A definitive breakout above this point could trigger a rally towards Rs 103. Conversely, if the stock breaches its immediate support at Rs 75, it could decline further towards Rs 65, reinforcing a negative short to medium-term outlook.
Investors are advised to exercise caution and await clear confirmation of an upside movement before initiating new positions. The stock is expected to trade with a neutral-to-negative bias in the near term.
- Resistance: Rs 90
- Support: Rs 65
- Recommendation: Caution
YES Bank: Bullish Outlook with Defined Targets
YES Bank has pulled back towards the upper boundary of its consolidation range after retreating from its recent high of Rs 25.60. This places the stock at a critical juncture, potentially leading to a decisive breakout or breakdown in the short to medium term.
Should the stock maintain its position above the Rs 22 level, it would strengthen the medium-term bullish trend, paving the way for an ascent towards the Rs 25–27 zone. However, a breach of the key support at Rs 22 could signal further weakness, pushing the stock towards Rs 20.
While momentum indicators currently show subdued and sideways movement, the overall structure suggests that buying opportunities persist as long as the stock remains above Rs 20, supporting a positive medium-term outlook.
- Target Price: Rs 25-27
- Stop Loss: Rs 20
- Recommendation: Buy
MCX: Bearish Momentum Continues
Multi Commodity Exchange of India (MCX) has been trending downwards, forming a lower top–lower bottom pattern since reaching its peak of Rs 3,480. This indicates a weakening short-term trend for the stock.
Currently, MCX is trading below its 20-day Simple Moving Average (SMA) of Rs 2,807 and its 50-day Exponential Moving Average (EMA) of Rs 2,837, signaling persistent bearish momentum. This suggests the stock may continue to face selling pressure, potentially moving towards the Rs 2,550 support level in the short term.
Momentum indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have turned negative on the daily chart. A negative MACD crossover and a histogram below the zero line further confirm weakening momentum and a lack of buying strength. A fall below the 61.8% Fibonacci retracement support from its recent peak could intensify the ongoing correction.
- Support: Rs 2,550
- Recommendation: Caution
Disclaimer: This article provides stock market news for informational purposes only and should not be considered investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.