Adani Green, Vodafone Idea, PNB: Stocks to trade — Key levels, target, stop loss & more
An analyst from Anand Rathi said that Adani Green has delivered a strong rally over the past few months, but recent price action indicates that bullish momentum is gradually weakening.
- Jul 21, 2026,
- Updated Jul 21, 2026 7:28 AM IST
Indian equity benchmark indices settled lower on Monday amid the fresh boil in the crude oil prices, triggered by the renewed tensions between the US and Iran. Traders continue to evaluate quarterly earnings for the stock specific action. The BSE Sensex dropped 442.03 points, or 0.57 per cent, to close at 77,708.52, while NSE's Nifty50 declined 95.80 points, or 0.39 per cent, to end at 24,238.50 for the day.
Select buzzing stocks like Vodafone Idea, Adani Green Energy Ltd and Punjab National Bank are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers Ltd has to say on them ahead of Tuesdays' trading session:
Adani Green Energy | Book profits | Resistance: Rs 1,600 | Supports: Rs 1,500 Adani Green has delivered a strong rally over the past few months, but recent price action indicates that bullish momentum is gradually weakening. The MACD histogram is forming lower bars despite the stock trading near its highs, signalling negative momentum divergence and suggesting that the uptrend is entering an exhaustion phase. The RSI has cooled towards the 50 zone, reflecting a loss of buying strength, while the cumulative volume delta remains negative, indicating subdued institutional participation. Although the broader trend remains positive, the risk-reward is no longer favourable for fresh longs at current levels. Support is placed at Rs 1,500, while immediate resistance is seen near Rs 1,600. Profit booking is advised, as the stock may witness a phase of consolidation or corrective decline before the next sustainable uptrend begins.
Punjab National Bank | Buy | Target Price: Rs 124 | Stop Loss: Rs 104 PNB has given a decisive breakout above the falling trendline, indicating that the recent corrective phase may have come to an end. The breakout is supported by a positive MACD histogram, reflecting improving bullish momentum, while the DMI shows +DI well above -DI, confirming buyers are regaining control. The cumulative volume delta has turned sharply positive, signalling strong buying interest and increased institutional participation. Additionally, the RSI has climbed above 60, highlighting strengthening momentum without entering the overbought zone. The overall technical structure suggests the stock is well-positioned for further upside. Buy between Rs 112–109, keep a stop loss at Rs 104, and look for an upside target of Rs 124. A sustained move above the breakout zone could trigger fresh buying momentum in the coming sessions.
Vodafone Idea | Book profits | Resistance: Rs 14.33 | Supports: Rs 13 Vodafone Idea Ltd has delivered a strong rally over the past few months, but recent price action suggests that bullish momentum is fading. The MACD histogram remains in negative territory, indicating weakening momentum and increasing the likelihood of a near-term correction. The DMI shows -DI trading above +DI, confirming that sellers are gradually gaining control. Additionally, the cumulative volume delta remains negative, reflecting reduced buying participation and limited institutional support. The RSI has slipped below the 50 mark, signalling a loss of bullish strength. The overall technical setup suggests that the stock may witness a phase of consolidation or correction. Support is placed at Rs 13, while immediate resistance is seen near Rs 14.33. Profit booking is advised at current levels, as the risk-reward has become less favourable after the recent rally.
Indian equity benchmark indices settled lower on Monday amid the fresh boil in the crude oil prices, triggered by the renewed tensions between the US and Iran. Traders continue to evaluate quarterly earnings for the stock specific action. The BSE Sensex dropped 442.03 points, or 0.57 per cent, to close at 77,708.52, while NSE's Nifty50 declined 95.80 points, or 0.39 per cent, to end at 24,238.50 for the day.
Select buzzing stocks like Vodafone Idea, Adani Green Energy Ltd and Punjab National Bank are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers Ltd has to say on them ahead of Tuesdays' trading session:
Adani Green Energy | Book profits | Resistance: Rs 1,600 | Supports: Rs 1,500 Adani Green has delivered a strong rally over the past few months, but recent price action indicates that bullish momentum is gradually weakening. The MACD histogram is forming lower bars despite the stock trading near its highs, signalling negative momentum divergence and suggesting that the uptrend is entering an exhaustion phase. The RSI has cooled towards the 50 zone, reflecting a loss of buying strength, while the cumulative volume delta remains negative, indicating subdued institutional participation. Although the broader trend remains positive, the risk-reward is no longer favourable for fresh longs at current levels. Support is placed at Rs 1,500, while immediate resistance is seen near Rs 1,600. Profit booking is advised, as the stock may witness a phase of consolidation or corrective decline before the next sustainable uptrend begins.
Punjab National Bank | Buy | Target Price: Rs 124 | Stop Loss: Rs 104 PNB has given a decisive breakout above the falling trendline, indicating that the recent corrective phase may have come to an end. The breakout is supported by a positive MACD histogram, reflecting improving bullish momentum, while the DMI shows +DI well above -DI, confirming buyers are regaining control. The cumulative volume delta has turned sharply positive, signalling strong buying interest and increased institutional participation. Additionally, the RSI has climbed above 60, highlighting strengthening momentum without entering the overbought zone. The overall technical structure suggests the stock is well-positioned for further upside. Buy between Rs 112–109, keep a stop loss at Rs 104, and look for an upside target of Rs 124. A sustained move above the breakout zone could trigger fresh buying momentum in the coming sessions.
Vodafone Idea | Book profits | Resistance: Rs 14.33 | Supports: Rs 13 Vodafone Idea Ltd has delivered a strong rally over the past few months, but recent price action suggests that bullish momentum is fading. The MACD histogram remains in negative territory, indicating weakening momentum and increasing the likelihood of a near-term correction. The DMI shows -DI trading above +DI, confirming that sellers are gradually gaining control. Additionally, the cumulative volume delta remains negative, reflecting reduced buying participation and limited institutional support. The RSI has slipped below the 50 mark, signalling a loss of bullish strength. The overall technical setup suggests that the stock may witness a phase of consolidation or correction. Support is placed at Rs 13, while immediate resistance is seen near Rs 14.33. Profit booking is advised at current levels, as the risk-reward has become less favourable after the recent rally.