Nilesh Jain, Head Derivatives and Technical Research at Centrum Finverse Ltd on Thursday shared his views on of a couple of stocks namely Bharat Electronics Ltd (BEL), YES Bank Ltd, Larsen & Toubro Ltd (L&T) and Inox Wind Ltd. Jain said investors holding YES Bank for long should use 'sell on rise' strategy and consider shifting positions towards other banking names. He said Inox Wind Ltd can fall further and existing investors should wait for further downside if they wish to average share price. He advised staying put on Larsen & Toubro from a purely positional view. Jain said one can exit BEL on any pullback, as short-term trend stays negative.

Holding YES Bank for long: Sell or hold? 
In an interview to Business Today, Jain said YES Bank has underperformed the market in the past six years, with the stock now trading at Rs 20 level against Rs 60-odd levels during Covid-19, six years ago. He said the levels of Rs 25-30 offer very strong resistance, while level of Rs 15 provide a strong support. "I am not expecting the counter move around Rs 60-65 levels. The overall structure is sideways to weak. A pullback towards Rs 25-30 cannot be ruled out. But any pullback should be used as an exit opportunity," Jain said. 

Jain said the is possibility that YES Bank shares may stay sideways for sometime. The better strategy would be to shift positions to a better bank, Jain said. "If you still want to stick with it, keep a stop loss at Rs 17," Jain said.

Inox Wind: Should existing investor average stock?
Jain said the Inox Wind stock is in a downtrend since the level of Rs 250 in September 2024. Since then, we have seen formation of lower top and lower bottoms. That basically indicates the short-to-medium trend still looks weak and at current levels, the recent pullback has also got sold into at the resistance of 100-day moving average. 

"The selling pressure may continue towards Rs 90-85 levels. You might get a lower level if you want to do averaging. From a two-three year perspective, yes, we may see a gradual uptick but short and medium term outlook looks weak. I suggest not to be in a hurry. Let the counter make base formation, which as of now is missing."             

Larsen & Toubro: Target from 1-year horizon
Jain said L&T has seen a strong rebound from levels of around Rs 3,400 to Rs 4,100. He said the stock has been some positive developments and advised investors to stay put from a one-year time horizon, with a trailing stop loss at Rs 3,500 for targets of Rs 4,500-5,000. That said, as the company has major exposure to West Asia, one should keep an eye on the persisting geopolitical tensions. He said any positive development on that front will influence the stock. Jain said one can stay invested on the counter.  

BEL share price: Selling pressure, what to do? 
Jain said the counter has seen a bit of selling after making multiple tops at around Rs 465. The short term structure has turned negative and any pullback towards Rs 440-445 should be used to exit. Jain said the important support is placed at 200-day moving average of Rs 412.  

"Keep a stop loss at Rs 412. I would suggest to exit if the stock is bought purely from a trading perspective.