Jupiter Wagons, SJVN, IRB Infra: Trading Strategies for these buzzing stocks

Domestic equity markets were back in green on Friday and settled higher. after the RBI monetary policy outcome, which was in-line with the market's expectations. BSE's Sensex advanced 303.91 points, or 0.44 per cent, to end at 69,825.60. NSE's Nifty50 added 68.25 points, or 0.33 per cent, to end the day at 20,969.40.

Some well known and buzzing metal stocks of Dalal Street namely Jupiter Wagons Ltd, SJVN Ltd and IRB Infrastructure Developers Ltd are likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets have to say on these stocks ahead of Monday's trading session:

Jupiter Wagons | Hold | Target Price: Rs 339-352 | Stop Loss: Rs 300
The daily chart of Jupiter Wagons shows that prices are trading very close to the demand zone of Rs 305 – 307 and forming a 'doji' candle pattern. This suggests that a bounce from the current level cannot be ruled out. The stock outperforms the benchmark indices and even the momentum indicator. RSI is positively poised. Hence, one can hold the stock at current levels with a stop loss of Rs 300 for a target Rs 339-352 levels in a couple of weeks.

SJVN | Hold | Target Price: Rs 102-109 | Stop Loss: Rs 81
On the daily chart of SJVN, we are observing a higher high formation, which is a sign of strength. Further, momentum indicator viz. MACD is positively poised, and the stock even outperforms the benchmark indices. Combining the above parameters, it is evident that momentum on the upside is likely to continue. Hence, one can hold the stock at current levels with a stop loss of Rs 81 for the target of Rs 102-109 levels in the next couple of weeks.

IRB Infrastructure Developers | Hold | Target Price: Rs 45-48 | Stop Loss: Rs 36
On the daily chart of IRB Infra, we are observing a higher high formation, which is a sign of strength. Further, momentum indicator viz. RSI is positively poised, and even the stock outperforms the benchmark indices. This suggests that momentum on the upside may continue. Hence, one can hold the stock at current level with a stop loss of Rs 36 for the target of Rs 45-48 levels in the next couple of months.

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