Buy Hindalco at Rs 985.65, Waaree Energies at Rs 3,232.3
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- Nilesh Jain noted that the index formed a small bearish candle on the daily chart amid heightened volatility, but the broader market structure stays positive and a buy‑on‑dips strategy remains favorable.
- India VIX is hovering around the 20 mark, and any further decline could provide additional comfort to bulls, according to Jain.
- Hindalco Industries is recommended at Rs 985.65 with a 7% upside target of Rs 1,057 and a stop‑loss at Rs 950, based on a bullish breakout from a descending trendline and EMA support.
- Hindalco Industries price is trading above its 20‑day EMA (921), 50‑day EMA (917) and 100‑day EMA (890), with RSI at 64, indicating strengthening momentum.
- Waaree Energies is recommended at Rs 3,232.3 with an 8% upside target of Rs 3,500 and a stop‑loss at Rs 3,100, as it approaches a key resistance zone near 3,230 and shows higher lows.
- Waaree Energies price is above its 20‑day EMA (3,037), 50‑day EMA (2,973) and 100‑day EMA (2,961), with RSI at 66, signaling strong momentum.
Why it matters: Investors can lock in roughly 7%–8% upside by entering Hindalco and Waaree Energies at current levels, while the low VIX and bullish EMAs suggest broader market resilience; the buy‑on‑dips strategy thus offers a risk‑adjusted entry point for active investors amid recent volatility.
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