Trading Strategies for Key Indian Stocks: Adani Green, Vedanta, and RBL Bank

In the bustling world of Indian trading, today’s spotlight shines on a few key stocks: Adani Green Energy, Vedanta, and RBL Bank. These stocks have been making waves, and investors are keen to know how to approach them in the current market.

Starting with Adani Green Energy, analysts are suggesting a buying strategy with a target price set at Rs 2,125. After breaking out strongly earlier this month, the stock has been fluctuating within a broader range, showing some sideways movements. However, there’s a buzz about increasing interest from buyers, which makes now a good time to jump in. A recommended stop loss is placed at Rs 1,700 to manage any risk.

Switching gears to Vedanta, the outlook isn’t as rosy. The metal index has been struggling, and Vedanta’s price has been moving sideways with a hint of negativity. Recently, the stock even breached its 50-day moving average, a sign that it’s not performing well. Weak relative strength compared to the Nifty 50 index and a dip in buyer demand suggest it’s best to stay away from this stock for now.

Lastly, RBL Bank isn’t showing much promise either. Since December, its price movement has been consolidating slightly downwards. With lower highs formed and a struggle to regain past highs, the trend looks weak. The Relative Strength Index (RSI) indicates a definite lack of momentum, prompting analysts to advise against buying this stock at the moment.