Mazagon Dock, GRSE, Cochin Shipyard: Defence stocks to trade — Check key levels, targets & stop loss

Indian equity benchmark indices gave up early gains and settled lower on Monday amid the weak sentiments over rising bond yields and persistent FII outflows. The Indian rupee saw some rebound following RBI's efforts. The BSE Sensex tanked 547.85 points, or 0.76 per cent, to end at 71,924.68, while NSE's Nifty50 cracked 157.10 points, or 0.70 per cent, to settle at 22,363.35 for the day.

Select buzzing defence stocks including Cochin Shipyard, Garden Reach Shipbuilders & Engineers Ltd and Mazagon Dock Shipbuilders Ltd 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 Ltd has to say about these stocks for Tuesday's trading session:

Garden Reach Shipbuilders & Engineers | Caution | Resistance: Rs 2,150 | Support: Rs 2,000
GRSE is approaching a crucial support zone of Rs 1,970–2,000, which will be important in determining its near-term price direction. The stock is currently trading at Rs 2,087, relatively close to this support area. However, the RSI on both the daily and weekly charts is below the 50 mark, indicating subdued momentum and a lack of strong bullish strength across short- and medium-term timeframes. Given this technical setup, a cautious approach is warranted. We expect the stock to undergo potential base formation near the Rs 1,970–2,000 support zone before any meaningful upside emerges. On the upside, Rs 2,150 is the immediate resistance level. A sustained move above this resistance, supported by improving RSI, could strengthen the recovery outlook. Until then, traders should avoid aggressive positioning and monitor price action closely.

Cochin Shipyard | Caution | Resistance: Rs 1,300 | Support: Rs 1,200
Cochin Shipyard Ltd is approaching a crucial support zone of Rs 1,185–1200, which will be important in determining its near-term price direction. The stock is currently trading at Rs 1235, relatively close to this support area. However, the RSI on both the daily and weekly charts is below the 50 mark, indicating subdued momentum and a lack of strong bullish strength across short- and medium-term timeframes. Given this technical setup, a cautious approach is warranted. We expect the stock to undergo potential base formation near the Rs 1180-1200 support zone before any meaningful upside emerges. On the upside, Rs 1300 is the immediate resistance level. A sustained move above this resistance, supported by improving RSI, could strengthen the recovery outlook. Until then, traders should avoid aggressive positioning and monitor price action closely.

Mazagon Dock Shipbuilders | Caution | Resistance: Rs 2,120 | Support: Rs 2,000
Mazagon Dock is approaching a crucial support zone of Rs 1,950-2,000, which will be important in determining its near-term price direction. The stock is currently trading at Rs 2,027, relatively close to this support area. However, the RSI on both the daily and weekly charts is below the 50 mark, indicating subdued momentum and a lack of strong bullish strength across short and medium term timeframes. Given this technical setup, a cautious approach is warranted. We expect the stock to undergo potential base formation near the Rs 1,950–2,000 support zone before any meaningful upside emerges. On the upside, Rs 2,120 is the immediate resistance level. A sustained move above this resistance, supported by improving RSI, could strengthen the recovery outlook. Until then, traders should avoid aggressive positioning and monitor price action closely.