Mazagon Dock, Hindustan Aeronautics, Zen Tech: How to trade these 3 buzzing defence stocks
An analyst from YES Securities said that Mazagon Dock has staged a bearish breakdown, signaling intensified selling pressure and a shift toward a 'lower high, lower low' price structure.
- Jan 22, 2026,
- Updated Jan 22, 2026 8:37 AM IST
Indian benchmark indices continued to fall and settled lower for another trading session on Wednesday, led by muted global cues including tariff threats, geopolitical uncertainties and weakening of Indian rupee. However, low level buying trimmed the losses. BSE Sensex dropped 270.84 points, or 0.33 per cent, to settle at 81,909.63, while NSE's Nifty50 declined 75 points, or 0.30 per cent, to close at 25,157.50.
Select buzzing defence stocks like Mazagon Dock Shipbuilders Ltd, Zen Technologies Ltd and Hindustan Aeronautics Ltd (HAL), are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
Hindustan Aeronautics | Caution | Resistance: Rs 4,530 | Support: Rs 4,000
HAL has entered a decisive bearish phase in the daily timeframe after breaking down from its short-term rising channel and slipping below all major moving averages. This technical weakness is further validated by negative crossovers on both the MACD and RSI, with the latter dropping below the 50-midpoint to indicate accelerating downward momentum. Traders may view any relief rallies toward the Rs 4,360–4,400 resistance zone as selling opportunities, targeting the Rs 4,000 level in the near term while maintaining a strict watch on the Rs 4,530 hurdles as the primary invalidation point for this bearish outlook.
Mazagon Dock Shipbuilders | Caution | Resistance: Rs 2,500 | Support: Rs 2,200
Following a period of sideways consolidation, Mazagon Dock has recently staged a bearish breakdown, signaling intensified selling pressure and a shift toward a 'lower high, lower low' price structure. Currently trading below its key moving averages, the stock's weakness is reinforced by a negative crossover on the RSI and a MACD histogram that continues to hover in negative territory. These indicators collectively confirm a short position, with projected downside move towards Rs 2,200 and Rs 2,000 levels. This bearish outlook remains the dominant thesis unless the stock manages a decisive close above the critical resistance hurdle of Rs 2,500.
Zen Technologies | Avoid | Resistance: Rs 1,400 | Support: Rs 1,220
Based on the breakdown below Rs 1,400 with high-volume selling, Zen Tech's technical outlook remains weak. However, pullback in RSI from its oversold region may lead to near-term consolidation or sideways movement. However, the prevailing bearish momentum suggests a further decline towards previous week swing low at Rs 1,220 is likely. Given this setup, investors are advised to refrain from premature buying and maintain a neutral or avoid stance until a clear, sustained base formation emerges.
Indian benchmark indices continued to fall and settled lower for another trading session on Wednesday, led by muted global cues including tariff threats, geopolitical uncertainties and weakening of Indian rupee. However, low level buying trimmed the losses. BSE Sensex dropped 270.84 points, or 0.33 per cent, to settle at 81,909.63, while NSE's Nifty50 declined 75 points, or 0.30 per cent, to close at 25,157.50.
Select buzzing defence stocks like Mazagon Dock Shipbuilders Ltd, Zen Technologies Ltd and Hindustan Aeronautics Ltd (HAL), are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
Hindustan Aeronautics | Caution | Resistance: Rs 4,530 | Support: Rs 4,000
HAL has entered a decisive bearish phase in the daily timeframe after breaking down from its short-term rising channel and slipping below all major moving averages. This technical weakness is further validated by negative crossovers on both the MACD and RSI, with the latter dropping below the 50-midpoint to indicate accelerating downward momentum. Traders may view any relief rallies toward the Rs 4,360–4,400 resistance zone as selling opportunities, targeting the Rs 4,000 level in the near term while maintaining a strict watch on the Rs 4,530 hurdles as the primary invalidation point for this bearish outlook.
Mazagon Dock Shipbuilders | Caution | Resistance: Rs 2,500 | Support: Rs 2,200
Following a period of sideways consolidation, Mazagon Dock has recently staged a bearish breakdown, signaling intensified selling pressure and a shift toward a 'lower high, lower low' price structure. Currently trading below its key moving averages, the stock's weakness is reinforced by a negative crossover on the RSI and a MACD histogram that continues to hover in negative territory. These indicators collectively confirm a short position, with projected downside move towards Rs 2,200 and Rs 2,000 levels. This bearish outlook remains the dominant thesis unless the stock manages a decisive close above the critical resistance hurdle of Rs 2,500.
Zen Technologies | Avoid | Resistance: Rs 1,400 | Support: Rs 1,220
Based on the breakdown below Rs 1,400 with high-volume selling, Zen Tech's technical outlook remains weak. However, pullback in RSI from its oversold region may lead to near-term consolidation or sideways movement. However, the prevailing bearish momentum suggests a further decline towards previous week swing low at Rs 1,220 is likely. Given this setup, investors are advised to refrain from premature buying and maintain a neutral or avoid stance until a clear, sustained base formation emerges.