HDFC Bank, Varun Beverages, Cyient: Stocks to trade — Check key levels, target prices & stop loss

Indian equity benchmark indices settled with modest losses on Wednesday led by the weakness in the IT stocks as US paused visa appointments. However, receding inflation fears led by fall in crude and bond yields gave some support. The BSE Sensex shed 183.14 points, or 0.24 per cent, to close at 77,472.94, while NSE's Nifty50 tanked 126.80 points, or 0.52 per cent, to end at 24,207.75 for the day.

Select buzzing stocks including Cyient, Varun Beverages Ltd and HDFC Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what  Laxmikant Shukla, Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:

HDFC Bank | Caution | Resistance: Rs 450 | Support: 400
HDFC Bank continues to exhibit a clear downtrend after breaking below the key Rs 750–760 support zone which has now turned into a strong resistance area. The stock is consistently forming multiple bearish candles, signalling continued selling pressure. While the RSI has managed to surpass its 9 EMA, indicating weakened downward momentum and the possibility of a short-term bounce, the broader trend remains negative. Immediate support is seen around Rs 700-690, whereas resistance stands firm at Rs 750–760. A decisive break below the current support levels could accelerate the decline and potentially push the stock towards the Rs 650.

Cyient | Buy on dips | Target Price: Rs 1,120 | Stop Loss: 950
Cyient Ltd has delivered a strong breakout above its prior month swing highs around Rs 990 levels, turning this earlier resistance zone into a solid support base. It continues to trade above all major moving averages, indicating sustained bullish strength. The overall technical structure points toward continuation of the uptrend with the next upside target around Rs 1,100-1,120 zone. A sensible strategy would be to consider buying on dips near the Rs 990–1,000 zone with a stop loss placed below Rs 950 to maintain a favourable risk-reward profile as the bullish trend remains firmly in place.

Varun Beverages | Avoid | Resistance: Rs 450 | Support: 400
Varun Beverages formed a bearish belt hold candlestick pattern, signalling increased selling pressure at current levels. A short-term support zone is likely to emerge around Rs 410 to Rs 400, which corresponds with the previous swing low. However, if the price fails to stage a meaningful recovery from this area, it may invite further downside. A breakdown below this support range could potentially drag the stock toward the Rs 385 to Rs 380 regions. The broader outlook stays cautious unless the stock manages a decisive move above the strong resistance near Rs 450 as only a clear breakout beyond this level would indicate a possible shift in the prevailing trend.