Vodafone Idea, BEL, HAL, Airtel, Urban Company & Zen Tech: PL's Vaishali Parekh shares technical outlook

Indian equity benchmarks witnessed some profit booking at the start of the week and market expert VaisHALi Parekh, Vice-President of Technical Research at Prabhudas Lilladher (PL), BELieves investors should watch select counters closely for potential breakouts and reversals.

In an interaction with Business Today on Monday, Parekh shared her technical outlook on six stocks -- Vodafone Idea Ltd, Bharat Electronics Ltd (BEL), Hindustan Aeronautics Ltd (HAL), Bharti Airtel Ltd, Urban Company Ltd and Zen Technologies Ltd -- outlining critical support and resistance levels for each.

Commenting on the broader trend, she said, "For this week, we are looking at 25,400 as support and 26,100 as the hurdle that needs to be crossed to confirm the uptrend."

On BEL, Parekh noted that the stock had already achieved its earlier resistance targets. "If it moves above Rs 440, the next target would be around Rs 470 levels," she said, adding that BEL has been one of her firm's long-standing recommendations.

For HAL, Parekh highlighted the current trading zone between Rs 4,650 and Rs 4,950. "Once we see a clear move above Rs 4,950, the stock could head higher," she observed, pointing to strong technical momentum above that threshold.

Turning to Zen Technologies, she said the stock appeared to be stabilising after a correction. "It's showing signs of bottoming out and we may see a bounce coming in," she remarked.

Within the telecom space, Parekh maintained a bullish stance on Bharti Airtel, calling it a "safe bet" compared to Vodafone Idea. "Though Vodafone looks tempting, I would stick to Bharti. It's already showing a strong bullish candle formation," she said. For aggressive traders, she suggested a strict stop loss of Rs 8 on Vodafone Idea, with higher targets if it moves above Rs 11.

On Urban Company, Parekh said the recently listed stock was currently moving in a narrow band. "It's oscillating between Rs 145 and Rs 160. Only a move above Rs 160–163 will confirm a trend," she added.