YES Bank, Vodafone Idea, HFCL: Top stocks to trade — Check key levels, resistances & support
An analyst from Anand Rathi said that HFCL remains in a strong uptrend but appears technically overextended and the risk-reward ratio for initiating fresh positions is not favourable.
- Oct 21, 2026,
- Updated Oct 21, 2026 8:40 AM IST
Indian equity benchmark indices were under the selling pressure led by the weekly expiry in the truncated week along with feeble geopolitical cues. However, traders' focus shall now shift to Jio Platform's IPO and quarterly earnings by India Inc. The BSE Sensex tanked 876.37 points, or 1.17 per cent, to end at 73,852.90, while NSE's Nifty50 cracked 257.20 points, or 1.11 per cent, to settle at 22,888.95 for the day.
Select buzzing stocks including Vodafone Idea, YES Bank Ltd and HFCL Ltd are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Senior Technical Research Analyst at Anand Rathi Share and Stock Brokers Ltd has to say about these stocks for Wednesday's trading session:
YES Bank | Avoid | Resistance: Rs 18 | Support: Rs 15.50 YES Bank has breached the critical support of Rs 18, which also marks a bullish trendline originating in 2023 on the weekly chart. The weekly RSI has fallen below 30 for the first time since 2020, highlighting significant weakness in momentum. Given the breakdown of a long-term support level, we advise avoiding fresh positions in the counter. A weekly close back above Rs 18 would be necessary to revive some bullish hope. The next major support is placed near Rs 15.50, while Rs 18 is likely to act as immediate resistance.
Vodafone Idea | Avoid | Key Level: Rs 12.60 Vodafone Idea Ltd has breached the crucial Rs 12.60, an important pivot support on the chart. The breakdown indicates deteriorating price structure, while the daily RSI continues to reflect weak momentum. The inability to sustain above this key support raises concerns about further downside risk. Given the prevailing technical weakness, we advise investors and traders to avoid fresh positions until the stock shows meaningful signs of stabilisation and a sustained improvement in momentum.
HFCL | Caution | Stop Loss: Rs 255 HFCL remains in a strong uptrend but appears technically overextended at current levels. The risk-reward ratio for initiating fresh positions is not favourable, warranting caution. Since September 2026, the stock has formed two significant price highs, but the daily RSI has struggled to sustain readings above 70, indicating that momentum is not strengthening proportionately with price. While the broader trend remains positive, traders holding existing positions should consider protecting profits by trailing the stop-loss to Rs 255. Fresh buying should be considered only if the stock offers a more favourable risk-reward opportunity.
Indian equity benchmark indices were under the selling pressure led by the weekly expiry in the truncated week along with feeble geopolitical cues. However, traders' focus shall now shift to Jio Platform's IPO and quarterly earnings by India Inc. The BSE Sensex tanked 876.37 points, or 1.17 per cent, to end at 73,852.90, while NSE's Nifty50 cracked 257.20 points, or 1.11 per cent, to settle at 22,888.95 for the day.
Select buzzing stocks including Vodafone Idea, YES Bank Ltd and HFCL Ltd are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Senior Technical Research Analyst at Anand Rathi Share and Stock Brokers Ltd has to say about these stocks for Wednesday's trading session:
YES Bank | Avoid | Resistance: Rs 18 | Support: Rs 15.50 YES Bank has breached the critical support of Rs 18, which also marks a bullish trendline originating in 2023 on the weekly chart. The weekly RSI has fallen below 30 for the first time since 2020, highlighting significant weakness in momentum. Given the breakdown of a long-term support level, we advise avoiding fresh positions in the counter. A weekly close back above Rs 18 would be necessary to revive some bullish hope. The next major support is placed near Rs 15.50, while Rs 18 is likely to act as immediate resistance.
Vodafone Idea | Avoid | Key Level: Rs 12.60 Vodafone Idea Ltd has breached the crucial Rs 12.60, an important pivot support on the chart. The breakdown indicates deteriorating price structure, while the daily RSI continues to reflect weak momentum. The inability to sustain above this key support raises concerns about further downside risk. Given the prevailing technical weakness, we advise investors and traders to avoid fresh positions until the stock shows meaningful signs of stabilisation and a sustained improvement in momentum.
HFCL | Caution | Stop Loss: Rs 255 HFCL remains in a strong uptrend but appears technically overextended at current levels. The risk-reward ratio for initiating fresh positions is not favourable, warranting caution. Since September 2026, the stock has formed two significant price highs, but the daily RSI has struggled to sustain readings above 70, indicating that momentum is not strengthening proportionately with price. While the broader trend remains positive, traders holding existing positions should consider protecting profits by trailing the stop-loss to Rs 255. Fresh buying should be considered only if the stock offers a more favourable risk-reward opportunity.