Trade Spotlight: How should you trade Varun Beverages, Adani Energy Solutions, JSW Infra, Vardhman Textiles, Aster DM Healthcare, and others on April 27?

About this update from Vardhman Textiles Limited

The benchmark indices fell more than 1 percent and continued their downtrend for the third consecutive day on April 24. Market breadth was dominated by bears, with about 2,300 shares witnessing selling pressure against 667 advancing shares on the NSE. The market may consolidate with a negative bias if it sustains below short term moving averages. Below are some short-term trading ideas to consider:Rajesh Palviya, Senior Vice President Research (Head of Research) at Axis SecuritiesVarun Beverages | CMP: Rs 490.45For the past 3–4 weeks, Varun Beverages has shown a “V”-shaped price recovery, indicating strong buying momentum at lower levels. Additionally, on the weekly chart, the stock marginally closed above the past one-year down-sloping trendline breakout at the Rs 489 level, with huge volumes that reconfirm a short-term trend reversal.Currently, the stock is well above the 20-, 50-, 100-, and 200-day SMAs, which reconfirms bullish sentiment. The daily, weekly, and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all timeframes.Strategy: BuyTarget: Rs 510, Rs 530Stop-Loss: Rs 475Adani Energy Solutions | CMP: Rs 1,411.95Since February 2023, Adani Energy Solutions has been strongly consolidating within the Rs 630–1,270 range. However, strong price action over the past couple of weeks has confirmed a breakout above the Rs 1,250–1,270 resistance zone on a closing basis. This breakout is also accompanied by huge volumes, indicating increased participation.The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching up with the price rise, which reconfirms bullish sentiment. Weekly Bollinger Band buy signals indicate increased momentum. The daily, weekly, and monthly RSI is in favourable territory, indicating rising strength across all timeframes.Strategy: BuyTarget: Rs 1,485, Rs 1,550Stop-Loss: Rs 1,285Garden Reach Shipbuilders & Engineers | CMP: Rs 2,878.7With strong buying over the past couple of weeks, Garden Reach Shipbuilders has decisively surpassed the 8–10-month down-sloping trendline resistance at the Rs 2,715 level on a closing basis, signalling a resumption of the prior uptrend. Rising volumes over the past 3–4 weeks signify increased participation. Currently, the stock is well above the 20-, 50-, 100-, and 200-day SMAs, which reconfir...

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