NSDL, Protean eGov, CDSL: Stocks to trade ahead of NSE IPO— Key levels, target prices & stop loss

Indian equity benchmark indices kicked off the weak on a muted note and settled lower on Monday amid the development in West Asia and crude oil prices. Traders remained cautious amid the muted institutional buying in the secondary markets. The BSE Sensex dropped 382.62 points, or 0.50 per cent, to close at 76,132.81, while NSE's Nifty50 declined 118.55 points, or 0.50 per cent, to end at 23,779.15 for the day.

Amid the going IPO season and record demat account addition, select buzzing market infra stocks including Protean eGov Technologies Ltd, Central Depository Services (India) Ltd and National Securities Depository 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 on them ahead of Tuesday's trading session:

National Securities Depository | Wait & Watch | Resistance: Rs 840 | Support: Rs 800
NSDL is consolidating in the Rs 800–840 range, indicating a period of sideways price movement. The stock is trading below its key moving averages, suggesting that the short-term trend remains weak and buying momentum is yet to improve. A decisive breakout above Rs 840 could trigger fresh buying interest and signal a possible recovery. Sustaining above this resistance would strengthen the bullish outlook and may attract further momentum-based buying. On the downside, Rs 800 remains the immediate support, and holding this level is important to maintain the current consolidation structure. A breakdown below Rs 800 could weaken the setup and lead to further selling pressure. As of now, Rs 800 is the key support and Rs 840 is the immediate resistance. Traders should wait for a clear breakout above Rs 840 before considering a fresh bullish move.

Protean eGov Technologies | Caution | Resistance: Rs 540 | Support: Rs 480
Protean is looking weak on the daily chart, despite posting recent gains. This recovery indicates some buying interest, but it has not yet confirmed a meaningful trend reversal. Rs 480 is the immediate support, while Rs 540 remains the key resistance. If the stock sustains above Rs 480, a brief bounce towards Rs 540 may be possible. However, this bounce should not be treated as a fresh buying opportunity. A decisive breakout above Rs 540 would be required to improve the bullish outlook and trigger fresh buying interest. Until then, the stock may continue to remain under pressure. As of now, the strategy is to wait and watch.

Central Depository Services (India) | Wait & Watch | Resistance: Rs 1,453 | Support: Rs 1,350
CDSL is sustaining above all its key moving averages, indicating a positive trend and continued buying interest. The stock is holding above its important support zone of Rs 1,350, which is crucial for maintaining the bullish structure. However, Rs 1,453 remains the immediate resistance. A decisive breakout above Rs 1,453, preferably with strong volumes, could trigger fresh buying interest and signal the possibility of further upside. Until then, the stock may continue to consolidate below resistance. Traders should monitor whether the stock sustains above Rs 1,350, as a breakdown below this level could weaken the setup. Fresh buying will be considered only above Rs 1,453, while Rs 1,350 remains the key support.