The analyst’s outlook ranged from bullish on Eternal to cautious on Adani Ports and CDSL.
In an ask-me-anything (AMA) session hosted on Stocktwits on Tuesday, SEBI-registered analyst Harika Enjamuri shared her outlook on a whole host of stocks from breakout counters like Eternal to a consolidation play in CDSL.
Let’s take a look at her recommendations:
Eternal
Eternal shares are consolidating near their recent high of ₹314.20 after a strong breakout above ₹276. According to Enjamuri, key moving averages (9 EMA ₹306, 70 EMA ₹257, 100 EMA ₹245) support the uptrend, and the Relative Strength Index (RSI) at 66 signals bullish strength.
As long as it holds above ₹300, it may head toward ₹330–₹340, with support lat ₹285–₹276. Bias remains positive with minor consolidation, she added.
Bharat Electronics (BEL)
BEL is currently in a corrective phase after a sharp rally, with price consolidating around the ₹385–₹388 zone, which aligns closely with the 70-day Exponential Moving Average (EMA) support. Despite the recent dip, the stock is holding above key long-term moving averages (100 EMA at ₹357, 70 EMA at ₹385), indicating the broader trend remains bullish.
RSI at 41.56 is nearing oversold territory, suggesting a possible reversal if support at ₹379 holds. A bounce from current levels could take it back toward ₹405 and then ₹432. However, a breakdown below ₹379 may trigger further weakness toward ₹358. Trend remains cautiously bullish with strong support at ₹379, according to her.
Adani Ports
Adani Ports is correcting after a sharp rally, now testing the 100 EMA (₹1,334) and just below the 70 EMA (₹1,400). RSI at 39.16 signals weak momentum.
She identified ₹1,334–₹1,350 as a key support zone; if held, a bounce is likely. On the other hand, a breakdown below ₹1,330 could lead to a deeper correction toward ₹1,280. Bias remains cautious, Enjamuri added.
ITC Hotels
ITC Hotels is in a steady uptrend within a rising channel and recently bounced from the lower trendline support near ₹220. The stock is trading above all key moving averages, with RSI at 49.56, indicating neutral strength. As long as it stays above ₹217, the uptrend remains intact with potential to retest ₹260 and higher, she said.
Central Depository Services (CDSL)
CDSL is attempting a short-term recovery after bouncing from the ₹1,480 support zone, aligned with the 100-day EMA. The stock is facing immediate resistance at ₹1,590–₹1,634, near the 70-day EMA.
RSI at 41.8 indicates a weak momentum phase, though a rebound is developing. A sustained move above ₹1,634 could trigger a rally toward ₹1,808, while failure to hold ₹1,550 may drag it back to ₹1,480 or ₹1,379. Trend remains range-bound; she advised traders to watch for breakout confirmation above ₹1,634.
DLF
DLF was trading below its 9-day and 70-day Exponential Moving Average (EMA) of ₹796, showing weakness after a failed attempt near ₹881. Its Relative Strength Index (RSI) at 36.55 signals oversold territory; however, the price is near a crucial support zone around ₹757. A rebound from here is possible, but sustained weakness below ₹757 could open downside to ₹718.
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