Latest news with #KunalKamble
Mint
a day ago
- Business
- Mint
Waaree Energies soars over 11% on FTSE index rejig; stock nears ₹3,000-mark
Shares of Waaree Energies surged over 11 percent on Friday, June 20, after reports confirmed the stock's likely inclusion in the upcoming FTSE global index rejig. The counter jumped to an intraday high of ₹ 2,975, as investors rushed to price in passive inflows ahead of the revision's implementation. London-based Financial Times Stock Exchange (FTSE) is set to announce its latest index composition changes on June 20, with the resultant inflows expected to begin from June 23. As per brokerage estimates, Waaree Energies could attract $49 million in passive investments from global funds tracking the index. Other stocks expected to benefit include Vishal Mega Mart with inflows pegged at $115 million, Hyundai Motor India at $56 million, Swiggy at $32 million, and NTPC Green Energy at $22 million. Afcons Infrastructure, OneSource Specialty Pharma, Sai Life Sciences, and Inventurus Knowledge are also set to enter the FTSE radar. The inclusion not only increases liquidity but also enhances global visibility for Waaree, which has gained prominence in recent quarters as a major solar module supplier. While the index development lifted sentiment, Waaree Energies also gained from positive media commentary around its resilience to U.S. policy changes, particularly former President Donald Trump's 'One Big Beautiful Bill', which proposes cutting back renewable energy incentives. The company has continued to gain traction in the U.S. market. Its American subsidiary, Waaree Solar Americas, has recently secured multiple large contracts, including a 586 MW module supply deal and a 599 MW order from top independent power producers To meet growing demand, Waaree plans to double the capacity at its Brookshire, Texas facility to 3.2 GW by end of 2025—a move seen as strategically vital to cementing its global market position. With Friday's upmove, the stock now trades 22 percent below its 52-week high of ₹ 3,740.75, touched in November 2024. It had earlier slumped to a 52-week low of ₹ 1,808.65 in April 2025, indicating a wide trading range over the past year. While June has so far seen a 2.3 percent decline, the stock had gained 14.4 percent in May, 8.3 percent in April, and 11.4 percent in March, following double-digit declines in February (-10%) and January (-16%). Importantly, Waaree Energies has now rallied nearly 98 percent from its IPO price of ₹ 1,503, underlining investor confidence in its execution and prospects. Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "Waaree Energies is currently forming an ascending triangle pattern on the daily time frame a bullish continuation setup that indicates accumulation and potential breakout. The stock showed strong buying interest from the support zone in today's session, supported by above-average volume, reinforcing bullish sentiment. It has managed to close decisively above the 20-day and 50-day EMAs, signaling a positive shift in short to medium-term trends. The Relative Strength Index (RSI) is placed at 62.19 and is sloping upward, suggesting strengthening bullish momentum. A decisive breakout above the ₹ 3050 level could attract fresh buying interest, potentially propelling the stock toward ₹ 3300 in the near term. Technical signals are aligning positively, and traders should keep a close watch for a breakout confirmation to ride the next leg of the rally."
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Business Standard
3 days ago
- Business
- Business Standard
Breakout stocks to buy: Maruti, DMart, Bandhan Bank form bullish patterns
Stocks to buy today, June 19, 2025: Maruti Suzuki, Avenue Supermarts, and Bandhan Bank shares are seeing buying interest near support levels. Check out trading strategies for these stocks Kunal Kamble Mumbai Breakout stocks: Stocks to buy today, June 19 Maruti Suzuki India Ltd CMP: ₹12,748 Stop Loss: ₹12,300 Target Price: ₹13,700 Maruti share price has formed a falling parallel channel, and a shortfall in the pattern suggests a potential breakout on the upside. The stock recently took support at its long-term 200 EMA and has bounced back above the short-term 20 EMA, signaling a shift toward a bullish trend. An increase in volume during this move reflects growing buyer interest. Additionally, the Relative Strength Index (RSI) has formed a Higher High and Higher Low (HH-HL) structure, indicating strengthening momentum. As long as Maruti shares sustain above ₹12,300, they are expected to move higher towards ₹13,700. Avenue Supermarts Ltd CMP: ₹4,228.40 Stop Loss: ₹3,990 Target Price: ₹4,500/₹4,800 D-Mart share price has successfully closed above its supply zone, indicating buyer dominance and a potential shift in trend. The rise in volume during Wednesday's session confirmed strong buying interest at current levels. DMart share price has also managed to close above all major EMAs, further supporting the bullish outlook. Additionally, the Relative Strength Index (RSI) has broken out of its recent range, aligning with the positive price action. Avenue Supermarr stock can be considered for buying with a stop-loss at ₹3,990, aiming for an upside target of ₹4,500–₹4,800. Bandhan Bank Ltd CMP: ₹180.75 Stop Loss: ₹168 Target Price: ₹200/220 Bandhan Bank share price, after a brief throwback, has resumed its upward movement, indicating a continuation of the prevailing uptrend. The bank stock took support at the 21-EMA and bounced back, suggesting that the-21 EMA may act as a strong support level in the coming sessions. The increase in volume during the recovery phase highlights buyer interest and accumulation at current levels. Additionally, the RSI has turned upward after the throwback, supporting the ongoing price action. As long as Bandhan Bank share holds above ₹168, it is well positioned to move higher toward the ₹200–₹220 zone.
Mint
02-06-2025
- Business
- Mint
Why is Yes Bank share price skyrocketing? EXPLAINED
Yes Bank share price rallied sharply on Monday, June 2, gaining over 8% during intraday trade and extending their upward momentum for a third consecutive session. Yes Bank shares climbed as much as 8.61% to ₹ 23.32 apiece on the BSE. The recent uptrend in Yes Bank share price comes ahead of a crucial board meeting scheduled for Tuesday, June 3, 2025. The private lender's board of directors will consider proposals to raise capital through the issuance of equity shares or debt securities, potentially via private placement or preferential allotment, subject to requisite approvals '...this is to inform that the meeting of the Board of Directors of YES Bank Limited is scheduled to be held on Tuesday, June 03, 2025, inter alia, to consider raising of funds by way of issuance of equity shares, debt securities and/or any other eligible securities (convertible/non-convertible) through permissible modes, including but not limited to a private placement, preferential issue or any other method or combination of methods, subject to such approvals as may be required,' Yes Bank announced in a regulatory filing on May 28. Yes Bank also notified that its trading window for designated persons and insiders will remain closed from May 29 until two days after the outcome of the board meeting is disclosed to the stock exchanges. Investor sentiment has also been buoyed by the recent announcement that Japan's Sumitomo Mitsui Banking Corporation (SMBC) plans to acquire a 20% stake in Yes Bank from the State Bank of India-led consortium. The Yes Bank-SMBC deal, valued at ₹ 13,483 crore, marks the largest cross-border investment in India's banking sector. Upon completion, SMBC will become the single largest shareholder of the private lender. The strategic investment comes five years after Yes Bank was rescued by a consortium of domestic banks led by SBI. Yes Bank share price has witnessed a strong rally, gaining over 30% in the past month and rising 18% on a year-to-date (YTD) basis. The stock has advanced 15% over the last six months and remained flat over the past year. However, on a two-year basis, Yes Bank stock price has appreciated by 41%. Kunal Kamble, Senior Technical Research Analyst at Bonanza Portfolio, noted that Yes Bank share price has broken out of a Pennant Pattern on the charts, indicating a continuation of the ongoing bullish trend. 'Yes Bank share price is trading comfortably above its major EMAs, reinforcing the bullish bias. An increase in volume supports the view that buyers are actively participating at current levels. Additionally, the RSI is trending in the higher range, indicating sustained strength in momentum. Overall, the technical structure remains positive,' Kamble said. He recommends buying Yes Bank shares on dips near ₹ 22, with a stop-loss at ₹ 21 on a closing basis, and anticipates a potential upside target of ₹ 25 in the near term. At 2:55 PM, Yes Bank shares were trading 8.15% higher at ₹ 23.22 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
23-05-2025
- Business
- Business Standard
This analyst is bullish on Media, Defence; recommends these 2 stocks
Kunal Kamble of Bonanza expects Media and Defence sectors to continue outperformance, and Network 18 Media and Cochin Shipyard are his top 2 picks. Sector Outlook: Nifty Media & Nifty Defence Likely to Outperform in the Coming Weeks Nifty Media – Bullish Breakout Signals Upside Potential Nifty Media has recently broken out above a key resistance level and shows potential for further upside towards 1,740, followed by 1,870. The index is trading comfortably above both the 50 EMA (Fast) and 200 EMA (Slow), reinforcing its bullish trend. Stock in Focus: Network 18 Media Network 18 Media is showing an attractive setup above ₹50, with an upside potential towards ₹54–₹56, provided it sustains above the support level of ₹48. The stock has formed a classic Adam and Eve breakout pattern, with the neckline at ₹49.90. A breakout above this level, supported by increasing volumes, indicates strong buying interest. Recommendation Buy at: ₹50 Stop Loss: ₹48 Target Price: ₹54–₹56 Nifty Defence – Still Has Fuel Left for Higher Levels Nifty Defence still has fuel left in the tank and shows potential to move higher towards 9,500 levels. The recent retracement to the 21-EMA, followed by a strong bounce, suggests that this level will act as a key support going forward. Stock in Focus: Cochin Shipyard Cochin Shipyard recently broke out of an Eve pattern, and a successful throwback to the neckline is offering a fresh buying opportunity with a favorable risk-reward setup. The stock is trading above all major EMAs, indicating a strong bullish structure. Momentum indicators further support this view: RSI remains in the bullish zone, highlighting positive momentum. Directional Index (DI+) is above (DI-), and a rising Average Directional Index (ADX) confirms strength in the ongoing uptrend. Recommendation Buy Range: ₹1,884–₹1,890 Stop Loss: ₹1,680 Target Price: ₹2,200–₹2,500
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Business Standard
22-05-2025
- Business
- Business Standard
Nifty stock alert! BEL, Tata Steel trade in overbought zone; warning sign?
Bharat Electronics (BEL) and Tata Steel from the Nifty 50 space have surged up to 22 per cent and 16 per cent thus far in the month of May 2025. BEL stock, in fact, has zoomed 58 per cent in the last three months from a close of ₹245 in February to a new life-time high of ₹286.75 on the NSE in Thursday's trading session. In the process, both these stocks - BEL and Tata Steel are technically seen trading in overbought territory on the charts. The 14-day Relative Strength Index (RSI) - a key momentum indicator that helps in assessing if the underlying stock or index is overbought or oversold. The 14-day RSI indicator is plotted on a scale of 0 - 100. In stock markets, a RSI reading above 70 is considered an overbought zone, whereas a reading below 30 is considered oversold. At present, BEL 14-day RSI stands at 84.7, and Tata Steel at 72.8 levels. Follow Stock Market Latest Updates Today LIVE Analysts, in general, caution against venturing into stocks that are trading in an overbought zone, as they may tend to fall sharply in the case of adverse market reaction. Having said that, stocks can remain in overbought and oversold zone for longer-time, and other key momentum indicators need to be tracked in coordination with the RSI to determine a likely change in trend. Here's how BEL and Tata Steel are placed on the charts, check key levels here: Bharat Electronics (BEL) Current Price: ₹382 Upside Potential: 15.2% Support: ₹360; ₹355 BEL witnessed a breakout earlier this month following a prolonged 10-month time-wise consolidation within the broad range of ₹240–₹340. The breakout above ₹340 confirmed a fresh bullish setup, with a projected technical target of ₹440, says Kunal Kamble, Sr. Technical Research Analyst at Bonanza. ALSO READ | These 2 smallcap stocks see Golden Crossover on charts; can rally up to 21% However, the stock is currently trading in the overbought zone on the daily timeframe. Investors are advised to consider adding the stock on dips near the ₹355–₹360 range, which aligns with the 9-period EMA, while maintaining a stop loss at ₹340 for an anticipated upside toward ₹440, the analyst adds. Tata Steel Current Price: ₹163 Upside Potential: 10.4% Support: ₹152 Tata Steel continues to trade with upward momentum, aligning with the strength seen in the Nifty Metal index. On the daily timeframe, the stock is approaching the overbought zone, as reflected by the Relative Strength Index (RSI). Despite this, the broader trend remains strong on higher timeframes, with potential upside targets of ₹170 and ₹180. As long as the stock holds above ₹152—aligned with its 20-day EMA—existing investors can maintain their positions. However, fresh entries are not advised at current levels due to an unfavorable risk-reward ratio, explains Kunal Kamble.
