Trade Spotlight | What should you do with IndusInd Bank, Adani Ports, Mazagon Dock Shipbuilders on Thursday?

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26 Aug, 2025 12:21

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The market staged a strong bounceback with the benchmark indices clocking more than 2 percent gains on October 4, following positive global trend and buying across sectors. Banking & financial services, auto, information technology, and metal were the key drivers.

The BSE Sensex advanced by 1,277 points or 2.25 percent to 58,065, while the Nifty50 jumped nearly 400 points to close at 17,274 and formed bullish candle on the daily scale.

The healthy buying was also seen in broader markets on positive breadth. The Nifty Midcap 100 index rallied 2.6 percent and Smallcap 100 index rose 1.8 percent as more than four shares advanced for every share declining on the NSE.

The volatility also cooled down below 20 mark, increasing the confidence amongst bulls at Dalal Street. India VIX, which measures the expected volatility in the market fell by 8.4 percent to 19.57 levels.

Stocks that were in action included IndusInd Bank which rallied 5.5 percent to Rs 1,219.25, the highest closing level since September 21 and formed bullish candlestick pattern on the daily charts with making higher high higher low formation.

Adani Ports and Special Economic Zone shares rallied 5 percent to Rs 823, which is above the high of previous day's big red candle. The stock has seen formation of bullish candle on the daily charts with above average volumes.

Mazagon Dock Shipbuilders jumped more than 8 percent to end at record closing high of Rs 556.25, forming strong bullish candle on the daily charts with higher high higher low for fourth consecutive session. The stock gained 30 percent in these four days with above average volumes.

On the weekly scale, IndusInd Bank is constantly hovering around the upper Bollinger band. It has not even tested the 20 days moving average line since August 2022 that confirms its solid uptrend.

In addition the counter is trading above 50, 100, 200 days EMA (exponential moving average), further confirming the uptrend.

On indicator front, weekly Stochastic is overbought along with weekly RSI (relative strength index) at 70 is setting the positive tone which can take it till Rs 1,375 levels.

One can hold and add at current levels with upside expected till Rs 1,375 with stop-loss of Rs 1,125.

Adani Ports has witnessed a free fall since September 20, 2022 till October 3, 2022 which resulted in 22 percent correction. Since then the stock has been constantly giving bullish divergence signals on hourly charts. Moreover, 200 days (EMA) and 0.618 retracement are falling at the same place which is also the low tested on October 3, 2022.

On indicator front, the daily RSI has shown impulsive structure near the oversold zone which is adding more confirmation for further upside in the counter.

One can hold (if already bought) and add (if considering fresh buy) at the current market price. Upside is seen till Rs 900 with stop-loss of Rs 760 on closing basis.

Over the last 4 months, the stock has seen 150 percent appreciation. If already holding, then one should book some profits between Rs Rs 555-580 levels if tested in the coming few sessions.

At current juncture the said counter is trading between extreme harmonic extension ratios i.e 2.618 – 3.0 along with volume dries out as price spread increases resulting in price - volume anomaly.

Last but not the least, fresh buying at the counter is not advisable at the current market price. As of now wait and watch.