Stocktwits AMA: Hold BSE, Wait On IRFC, And Go Long On Ambuja Cement, Says Analyst Front Wave Research

In an ask-me-anything (AMA) session hosted on Stocktwits on Tuesday, SEBI-registered analyst Front Wave Research shared their outlook on select stocks across financial services, infrastructure, and cement.

While they remain bullish on BSE and Ambuja Cement, Front Wave advised caution on IRFC, RVNL, and CDSL, highlighting that selective strength is likely to define the market in the near term.

Let’s take a look at their stock recommendations: 

BSE: The stock broke out of its negative downtrend after catching support at 200-day DMA levels (₹2,155). In the short term, they believe the stock is well-positioned to continue its rally and recommend holding it for targets of ₹3,300, with a dynamic stop loss below the 200 DMA close (₹2,049), offering a risk-reward of 1:2. 

Angel One: The broking industry faces a lot of headwinds in the near term. On the long-term charts, the stock has been consolidating in a downward trend, finding support at the ₹2,000-₹2,050 zone. If one is holding, wait here and follow the management's forward guidance on revenue growth. Front Wave expects sustained better volume growth to emerge from this downtrend and start a new rally. ₹2,750 is the target price on a breakout.

Ambuja Cement: Technically, the stock is in an uptrend driven by expectations of volume and value growth in revenue. The entire cement industry has similar structures. For a short-term trade, remain long here with a stop loss at ₹540.

RVNL: Expensive stock that is more news-driven than profitability.  On the charts, the ₹320 zone is acting as a strong support, and they can expect the stock to consolidate in this zone further. A close above ₹400 warrants a re-look at this story.

IRFC: After the mega rally between 2022-24, the stock has lost its momentum and is now consolidating, making the base for its next leg higher. They believe the best trade is to stay on the sidelines and wait for a trend change, which will occur when the stock rises above ₹138 to trade above the 200 DMA and successfully surpasses previous resistance. Also, look out for forward guidance on credit growth, which can be a key trigger to re-rate the stock and initiate a new positive rally.

Triveni Turbines: Short-term performance may remain uneven, but its fundamentals reinforce the long-term compounding story. Technically, the stock has been finding support at these levels. A close above ₹600 will be the right price to enter, as this may coincide with a new rally for the next few quarters. 

CDSL: The stock trades at expensive valuations; however, recent growth has been visible, supporting the stock around the ₹1,450 levels. They believe that ₹1,600-₹1,700 is a strong resistance area, and one should book profits here if already holding it as a short-term trade. A close above ₹1,700 will warrant a re-entry.

Disclaimer: The views and opinions expressed are those of the SEBI-registered analyst/advisor mentioned in the article, and are not endorsed by Stocktwits. This is not investment advice. Please do your own research or consult a financial advisor.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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