Shares forecasts: Angel One, Suzlon Energy, Reliance Industries, Yes Bank

Indian stocks are doing well this year even as the rupee sits at a record low. The USD/INR exchange rate has moved to 83.93, 32% above its lowest point in 2018. 

The Nifty 50 and BSE Sensex indices have continued soaring and were nearing their all-time high. The BSE Sensex has risen for three consecutive weeks and was trading at ₹80,905, close to its all-time high of ₹81,998. 

Similarly, the Nifty 50 index has risen to ₹24,817, near its all-time high of ₹25,105. It has soared by more than 230% from its lowest point in 2020. This article looks at some of the most active stocks in India like Yes Bank, Reliance Industries, Suzlon Energy, and Angel One.

Angel One share price analysis

Angel One stock has been in the spotlight this week as it went parabolic, rising to a high of ₹2,852, its highest point since April 29 of this year. At its peak, the stock was up by over 40% from its lowest point this year.

Angel One, a company that offers online trading solutions, has benefited from the ongoing surge of Indian stocks. In most periods, retail and institutional investors move to stocks when markets are vibrant.

The most recent results showed that its business was doing well, with the number of client base rising to over 24.7 million in Q1.  Active clients stood at over 6.7 million. This growth happened as the company became a partner of the Indian Premier League.

The company’s revenues and profits also jumped. Total revenue rose to ₹14.1 billion in Q1’25 while the profit after tax hit ₹2.9 billion.

On the daily chart, we see that the Angel One share price staged a strong comeback this week. This rally happened after the stock formed a falling wedge chart pattern, a popular bullish sign.

Angel One shares moved to the 38.2% Fibonacci Retracement point and crossed the 50-day and 25-day moving averages. It is also between the 50% and 38.2% retracement point. Therefore, because of the wedge pattern, the stock will likely continue rising as bulls target ₹3,000.

Suzlon Energy share price forecast

We wrote about the remarkable Suzlon Energy stock in December and maintained a bullish rating. This view has worked out well as the stock has gone bonkers, soaring to a high of ₹84.10, 136% above its lowest point this year. 

On the weekly chart, we see that the stock has gone vertical and has constantly remained above all moving averages. Any weekly decline or consolidation has found willing dip buyers as the company’s earnings have continued being strong. 

The challenge, however, is that the stock has gotten highly overbought, with the Relative Strength Index (RSI) being at 83 and the Stochastic nearing 90. Therefore, while the stock may have more upside, there is a risk of a big pullback since no asset goes upwards forever. If this happens, it could have a sharp reversal as investors take profits.

Reliance Industries stock analysis

Reliance Industries has also done well this year, helped by the recent presidential election in which Narendra Modi won. The company, which provides petrochemicals, oil and gas, and retail solutions has benefited from Modi’s presidency. 

It has also done well because if India’s economic growth, which has been better than other emerging market countries. 

The stock jumped to a record high of ₹3,211 earlier this month and has pulled back to ₹3,000. On the weekly chart, it has remained above the 50-week moving average. However, the Relative Strength Index (RSI) and the Stochastic Oscillator have pointed downwards.

Additionally, the stock has formed a rising broadening wedge pattern, a popular bearish sign. Therefore, there is a risk that it could drop in the coming months. If this happens, the stock could drop to a low of ₹2,500. More upside will be confirmed if it flips the year-to-date high of ₹3,211.

Yes Bank share price analysis

Yes Bank chart by TradingView

Yes Bank stock price has remained in a tight range in the past few months. The most recent news was that the State Bank of India (RBI) was considering selling its stake worth over $2.2 billion by March next year. Yes Bank is also attracting bids by companies from Japan and the Middle East, who could become the controlling shareholders.

The daily chart shows that the Yes Bank stock price may be about to have a bullish or bearish breakdown as the symmetrical triangle nears its confluence level. It is consolidating at the 50-day and 25-day moving averages.

Oscillators like the RSI and Stochastic are moving sideways while volume has been in a downtrend after peaking in February. This could be a sign that some accumulation is going on. 

Therefore, the stock will likely remain in this range and then have a big move in the coming weeks. If this happens, the key support and resistance points to watch will be at ₹20 and 28.

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