Waaree Energies, Vedanta, Nalco: How to trade these 3 buzzing stocks

Indian benchmark indices extended their gains for the third straight session, supported by low level buying after the recent sell-off. However, upside remains capped due to geopolitical tensions, crude prices, and rupee depreciation. The BSE Sensex surged 633.29 points, or 0.83 per cent, to close at 76,704.13, while NSE’s Nifty50 jumped 196.65 points, or 0.84 per cent, to end at 23,777.80 for the day.

Select buzzing stocks including Waaree Energies Ltd, Vedanta and National Aluminium Company Ltd are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Technical Research Analyst at YES Securities has to say on them ahead of Thursday’s trading session:
 

National Aluminium Company | Caution | Resistance: Rs 410 | Support: Rs 365

Based on its recent advance from Rs 341 to Rs 410, Nalco is now undergoing a pullback driven by profit-taking, suggesting a phase of correction or consolidation; it faces a strong hurdle in the Rs 400-410 range and a sustained break above this band is necessary to confirm a bullish momentum. On the downside, the critical support zone to watch is Rs 370-365 and a breach below this level could accelerate a decline toward the Rs 345-340 area.
 

Waaree Energies | Buy above Rs 3,225 | Target Price: Rs 3,550 | Stop Loss: Rs 3,070

Waaree Energies has staged a resilient recovery from its recent lows and is currently testing the critical neckline of a double bottom pattern on the daily chart. With the MACD transitioning into a bullish configuration and the RSI maintaining sufficient overhead room, buying momentum remains firmly in control for now. A decisive weekly close above the Rs 3,215–3,225 resistance zone would confirm a structural breakout, potentially clearing the path for an upside move toward the Rs 3,550 levels. Conversely, a rejection at this pivotal juncture could trigger a healthy corrective pullback toward the Rs 3,070 and Rs 2,975 support levels, offering a chance for the market to stabilize before attempting its next leg higher.
 

Vedanta | Caution | Resistance: Rs 700 | Support: Rs 640

Vedanta Ltd remains under selling pressure following a decisive breakdown from its ascending trendline below the Rs 690 to Rs 700 zone. Prices are currently trading beneath both the 20 day and 50 day’s SMA which highlights a deteriorating short term trend further evidenced by the formation of a bearish belt hold pattern on the daily chart. While immediate support is situated near Rs 665, the critical level to monitor is the Rs 640 stop loss zone as a sustained move below this point would likely negate recovery prospects and invite further downside risk. From a strategic perspective, the current technical structure warrants a cautious approach with a long setup becoming viable only if the price can successfully reclaim and hold above the prior swing high of Rs 745.