Movers & Shakers: Stocks that will see action this week
Here is what the charts say about the shares of Eternal, PVR Inox and Union Bank of India
Eternal, formerly known as Zomato, has been on a rally since March, following support at ₹215 and reaching a 52-week high of ₹344.75 last month. However, it has since declined to close at ₹317 last week after hitting a low of ₹301.90. The chart indicates strong support at ₹300 and ₹290, suggesting the stock may resume its upward trend, potentially surpassing the prior peak of ₹344.75 and reaching ₹380 in the medium-term.
Conversely, a break below the support at ₹290 could lead to further declines, potentially reaching ₹280 and then ₹260.
PVR Inox has been appreciating since early June, breaking out of a key barrier at ₹1,210. After reaching a high of ₹1,457.90 last week, the stock is now at ₹1,395.55. There is a good chance for a price correction, with the nearest support around ₹1,300. A decline to this level might push the stock to ₹1,250. Eventually, however, the stock is expected to recover and rise to ₹1,700 over the next year. If the price falls below ₹1,210, bulls may lose momentum, potentially leading to a decline to ₹1,000 and ₹900.
Union Bank of India's stock rallied between January 2025 and February 2026, doubling from around ₹100 as it hit a fresh high of ₹205.45 in February this year. Since then, the stock has been in a consolidation phase, but the overall outlook remains bullish. There is a high probability for a breakout of the nearest resistance at ₹190, after which the stock could establish a fresh leg of rally, potentially lifting the price to ₹225 over the medium-term.
If the price falls below the support at ₹155, the trend could turn bearish, triggering a downswing to ₹125.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
