On the weekly chart, InterGlobe has broken the crucial support at Rs 5,500 and is now trading well below it, said the analyst.
On the weekly chart, InterGlobe has broken the crucial support at Rs 5,500 and is now trading well below it, said the analyst.Indian benchmark indices ended with big gains on Monday on the back of strong liquidity and global cues including expectations of Fed's rate cuts in 2026, FIIs buying and buying in some heavyweight sectors. BSE Sensex surged 638.12 points, or 0.75 per cent, to settle at 85,567.48, while NSE's Nifty50 rallied 206 points, or 0.79 per cent, to close at 26,172.40 for the day.
Select buzzing stocks including Bharat Heavy Electricals (BHEL), Adani Power and InterGlobe Aviation (IndiGo) 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 Shares & Stock Brokers for Tuesday's trading session:
InterGlobe Aviation | Avoid | Resistance: Rs 5,300 | Support: Rs 4,900
On the weekly chart, InterGlobe has broken the crucial support at Rs 5,500 and is now trading well below it. On the monthly scale, a clear negative divergence on RSI preceded heavy selling pressure. One should avoid fresh, long entries. Use any bounce to reduce positions until price reclaims Rs 5,500. Overall structure remains weak near-term.
Bharat Heavy Electricals | Buy | Target Price: Rs 290 | Stop Loss: Rs 272
After a healthy correction, BHEL is still trading above the 20-DEMA, indicating underlying strength. The MACD histogram is easing on the downside, signalling momentum loss and a potential upside turn. We expect it to test Rs 290 in the coming sessions. Support is seen at Rs 272. Bias stays mildly bullish in the short term.
Adani Power | Caution | Support: Rs 135 | Resistance: Rs 146
Currently, the price action of Adani Power is below the 10- and 20-DEMA, which is a short-term bearish signal. However, the daily RSI has reversed from the 40 zone and is now near 45, indicating early signs of stabilisation. For a fresh long setup, price must cross the previous daily swing high of Rs 146. A decisive breakout may open the path toward Rs 153. Trend remains neutral-to-bearish unless Rs 146 is crossed.