Hold Bharat Electronics, YES Bank shares; sell Trent stock, suggests Arihant Capital

Indian benchmark indices posted mild gains on Friday ahead of the US tariff deadline with mixed global cues. Traders are awaiting India Inc’s Q1 earnings and FII flows in the current month. BSE Sensex gained 193.42 points, or 0.23 per cent, to settle at 83,432.89, while NSE’s Nifty50 added 55.70 points, or 0.22 per cent to close at 25,461.00 for the day.

Select buzzing stocks including Trent, Bharat Electronics (BEL) and YES Bank, likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say about these stocks ahead of Monday’s trading session:

YES Bank | Hold | Target Price: Rs 24-26 | Stop Loss: Rs 18

YES Bank is witnessing a retracement of the prior up move from Rs 17 to 23 on the daily charts. Currently, it is underperforming the benchmark indices. However, the RSI remains positively poised, suggesting that the upward momentum may resume in the near term. Hence, investors are advised to hold the stock at the current levels, with a stop loss at Rs 18. The anticipated upside target is projected in the range of Rs 24–26 over the next couple of weeks.

Bharat Electronics | Hold | Target Price: Rs 460-480 | Stop Loss: Rs 408

Bharat Electronics is maintaining a higher high formation on the daily charts, indicating underlying strength. It is outperforming the benchmark indices, reflecting relative outperformance. The RSI also remains positively aligned, suggesting that the upward momentum is likely to continue. In view of the above, investors may consider initiating a hold position at the current levels, with a stop loss at Rs 408. The stock has the potential to move towards the target range of Rs 460–480 in the coming couple of weeks.

Trent | Sell | Target Price: Rs 5,100-4,900 | Stop Loss: Rs 5,700

Trent has breached its 50-day SMA at Rs 5,618 on the daily charts and closed below it, indicating weakness. Currently, the stock is underperforming the benchmark indices. Additionally, the momentum indicator RSI faced stiff resistance near the 70 mark and is now trending downward, reflecting waning bullish momentum. Considering these technical factors, the downside momentum is likely to persist. Therefore, traders can consider holding their short positions, with a stop loss at Rs 5,700. The stock is expected to decline further and may test the target range of Rs 5,100-4,900 over the next couple of months.