Indian benchmark indices ended volatile trading sessions with mild weakness on the back of mixed global cues and consistent FII selling ahead of RBI’s monetary policy due this week.
BSE Sensex shed 61.52 points, or 0.08 per cent, to settle at 80,364.94, while NSE’s Nifty50 declined 19.80 points, or 0.08 per cent, to close at 24,634.90.
Select buzzing stocks including Eternal, RBL Bank and Bharat Heavy Electricals (BHEL) are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Technical Research Analyst at Anand Rathi Shares & Stock Brokers has to say about these stocks ahead of Tuesday’s trading session:
RBL Bank | Caution | Resistance: Rs 260 | Support: Rs 280
RBL Bank has delivered an impressive 86 per cent rally since February 2025, significantly outperforming many peers in the banking space. However, the recent price action suggests that the stock may be entering a phase of exhaustion as upside momentum appears to be losing strength. This is further validated by the presence of a bearish divergence on the daily MACD, a signal that often indicates weakening trend sustainability. Given these cautionary signs, traders and investors are advised to lock in profits in the Rs 275-280 zone rather than chasing further upside at this stage. For the short term, the stock has a support level at Rs 260, which should act as an immediate cushion on declines, while the resistance remains at Rs 280. Only a sustained move above this resistance would revive optimism. Until then, the preferred approach is to safeguard gains and avoid fresh long exposures.
Bharat Heavy Electricals | Range-bound | Resistance: Rs 255 | Support: Rs 220
On the weekly timeframe, BHEL is seen consolidating in a range between Rs 230-243 and is currently trading within this band. A daily close above Rs 243 will confirm a breakout from this consolidation phase, potentially paving the way for an upside move towards Rs 255. On the flipside, a close below Rs 230 could trigger further downside, with the stock likely to drift towards Rs 220. Hence, for the short term, the effective trading range remains Rs 220-255, with traders advised to monitor breakout or breakdown signals for directional trades.
Eternal | Caution | Resistance: Rs 300 | Support: Rs 335
Eternal has broken its bullish trendline, signalling a potential shift in momentum. Additionally, a divergence on the daily MACD underlines weakening strength in the recent uptrend. Considering these technical factors, traders are advised to book profits on any bounce towards the Rs 330-333 range and refrain from fresh long positions at current levels. For the short term, support is seen at Rs 300, while resistance remains at Rs 335. A move above resistance would be required to re-establish bullish momentum. Until then, caution and a profit-protecting strategy are preferred.