Book Profits in Suzlon, Zen Tech & BEML, suggests Anand Rathi; check fresh entry levels

Indian benchmark indices kicked-off the week on a positive note and settled higher on Monday supported by positive moves by the Reserve Band of India. Global cues also supported the sentiments at Dalal Street. BSE Sensex jumped 256.22 points, or 0.31 per cent, to settle at 82,445.21, while NSE's Nifty50 rose 100.15 points, or 0.40 per cent to end at 25,103.20 for the day.

Select buzzing stocks including Suzlon Energy Ltd, BEML Ltd and ZEN Technologies Ltd are likely to remain under the spotlight of traders for the session today. Here is what  Jigar S Patel, Technical Research Analyst at Anand Rathi Shares & Stock Brokers has to say about these stocks:

Suzlon Energy | Book Profits

Suzlon has witnessed a mild correction from its recent high at the current juncture and is now trading near the Rs 68 mark. The RSI on the hourly chart appears overbought, indicating potential exhaustion. If this momentum fades further, it may reflect RSI exhaustion on the daily timeframe as well. Given this setup, it is advisable to lock in profits on any meaningful bounce rather than chasing the rally. A healthy correction towards the Rs 60 zone could offer a better re-entry opportunity with improved risk-reward, once indicators reset and price stabilizes.

Zen Technologies | Book Profits

Zen Technologies has corrected nearly Rs 250 from its recent peak and is currently hovering around the Rs 2,000 level. The hourly RSI shows signs of exhaustion, having already signalled negative divergence prior to the recent decline. If this weakening momentum persists, it may lead to RSI exhaustion on the daily chart as well. Considering this setup, it is prudent to book profits on any significant bounce, rather than pursuing the rally. A pullback towards Rs 1,900 could present a more favourable re-entry point with a better risk-reward profile, once indicators stabilize.

BEML | Book Profits

BEML appears overextended at the current juncture, after a sharp 87 per cent rally over the past two months. Additionally, bearish divergence is visible near the Rs 4,550–Rs 4,650 zone, which coincides with the R3 Camarilla monthly pivot, signalling potential exhaustion. In light of these factors, it is advisable to book profits at current levels rather than chasing further upside.