Trent, RBL Bank may extent rally, Reliance reflects bearish undertone; says Anand Rathi
An analyst from Anand Rathi said that Trent displayed a bullish divergence on the daily RSI, which acted as a strong reversal signal and led to an impressive 500-point rally from the recent bottom
- Apr 7, 2026,
- Updated Apr 7, 2026 8:28 AM IST
Indian equity benchmark indices kicked-off the week on a positive note and settled higher on Monday as the value buying emerged amid cautious sentiments over West Asia tensions. The BSE Sensex jumped 783.60 points, or 1.07 per cent, to close at 74,103.15, while NSE's Nifty50 rose 255.15 points, or 1.12 per cent, to end at 22,968.25.
Select buzzing stocks including Reliance Industries Ltd (RIL), RBL Bank and Trent 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 has to say on them ahead of Tuesday's trading session:
Trent | Buy | Target Price: Rs 4,100 | Stop Loss: Rs 3,720
Trent Ltd displayed a bullish divergence on the daily RSI, which acted as a strong reversal signal and led to an impressive 500-point rally from the recent bottom. This sharp rebound reflects the return of buyers and the strengthening of short-term momentum. At the current juncture, the stock has convincingly surpassed its previous swing high of Rs 3,720 and is managing to sustain above this level, suggesting that the breakout is genuine and supported by underlying strength. Sustained trade above this region indicates continued demand and improves the probability of further upside in the coming sessions. In the near term, the stock has the potential to extend its move toward the Rs 4,100 mark. Immediate support is placed at Rs 3,720, while resistance is seen around Rs 4,100.
Reliance Industries | Caution | Resistance: Rs 1,360 | Support: Rs 1,260
Reliance is trading close to its 200-week moving average at the current juncture as well as the yearly pivot support near the Rs 1,260 mark, making this zone a crucial reference point for market participants. Technical indicators, including RSI, MACD, and DMI, are currently reflecting a bearish undertone, indicating that momentum remains weak in the short term. Despite this pressure, the Rs 1,260 level has historically acted as a strong support, and if Reliance manages to sustain above this point for the next 3–4 sessions, it could trigger a short-term rebound. A stable close above this zone may attract fresh buying interest. For now, Rs 1,260 serves as an important support, while Rs 1,360 stands as the immediate resistance to watch.
RBL Bank | Buy | Target Price: Rs 330 | Stop Loss: Rs 310
RBL Bank Ltd broke out above the Rs 310-mark in the most recent sessions and is sustaining comfortably above this level, indicating strong buying interest. The RSI has moved in alignment with price action and is currently placed at 58, which reinforces the positive momentum and signals room for further upside. In the near term, the stock is expected to move toward the Rs 330 level. Immediate support is placed around Rs 310, while resistance is seen near Rs 330.
Indian equity benchmark indices kicked-off the week on a positive note and settled higher on Monday as the value buying emerged amid cautious sentiments over West Asia tensions. The BSE Sensex jumped 783.60 points, or 1.07 per cent, to close at 74,103.15, while NSE's Nifty50 rose 255.15 points, or 1.12 per cent, to end at 22,968.25.
Select buzzing stocks including Reliance Industries Ltd (RIL), RBL Bank and Trent 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 has to say on them ahead of Tuesday's trading session:
Trent | Buy | Target Price: Rs 4,100 | Stop Loss: Rs 3,720
Trent Ltd displayed a bullish divergence on the daily RSI, which acted as a strong reversal signal and led to an impressive 500-point rally from the recent bottom. This sharp rebound reflects the return of buyers and the strengthening of short-term momentum. At the current juncture, the stock has convincingly surpassed its previous swing high of Rs 3,720 and is managing to sustain above this level, suggesting that the breakout is genuine and supported by underlying strength. Sustained trade above this region indicates continued demand and improves the probability of further upside in the coming sessions. In the near term, the stock has the potential to extend its move toward the Rs 4,100 mark. Immediate support is placed at Rs 3,720, while resistance is seen around Rs 4,100.
Reliance Industries | Caution | Resistance: Rs 1,360 | Support: Rs 1,260
Reliance is trading close to its 200-week moving average at the current juncture as well as the yearly pivot support near the Rs 1,260 mark, making this zone a crucial reference point for market participants. Technical indicators, including RSI, MACD, and DMI, are currently reflecting a bearish undertone, indicating that momentum remains weak in the short term. Despite this pressure, the Rs 1,260 level has historically acted as a strong support, and if Reliance manages to sustain above this point for the next 3–4 sessions, it could trigger a short-term rebound. A stable close above this zone may attract fresh buying interest. For now, Rs 1,260 serves as an important support, while Rs 1,360 stands as the immediate resistance to watch.
RBL Bank | Buy | Target Price: Rs 330 | Stop Loss: Rs 310
RBL Bank Ltd broke out above the Rs 310-mark in the most recent sessions and is sustaining comfortably above this level, indicating strong buying interest. The RSI has moved in alignment with price action and is currently placed at 58, which reinforces the positive momentum and signals room for further upside. In the near term, the stock is expected to move toward the Rs 330 level. Immediate support is placed around Rs 310, while resistance is seen near Rs 330.