Book profits in BHEL, Glenmark Pharma & Canara Bank shares, suggests Anand Rathi

Indian benchmark indices kicked-off the week on a muted note amid mixed cues including subdued quarterly earnings, while delay in the tariff announcements between the US and India. BSE Sensex tanked 247.01 points, or 0.30 per cent, to settle at 82,253.46, while NSE's Nifty50 shed 67.55 points, or 0.27 per cent, to close at 25,082.30 for the day.
 

Select buzzing stocks including Bharat Heavy Electricals (BHEL), Glenmark Pharmaceuticals and Canara Bank are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Technical Research Analyst at Anand Rathi Shares & Stock Brokers has to say about these stocks ahead of Tuesday's trading session:
 

Canara Bank | Book Profits

Canara Bank is facing multiple resistance levels near the Rs 115–118 zone, which aligns with its previous historical top. A bearish divergence is observed on the momentum indicators, suggesting a potential pause or reversal in the uptrend. Given these signals, we advise booking profits at current levels and avoiding fresh long positions. On the downside, support is placed near Rs 110, while resistance remains firm around Rs 116–118.
 

Bharat Heavy Electrical | Book Profit

BHEL is encountering strong resistance in the Rs 265–270 zone, which coincides with its previous historical top and marks a critical supply area. Moreover, bearish divergence on momentum indicators signals weakening upside momentum and the possibility of a short-term reversal or consolidation. Considering this setup, we recommend booking profits on any bounce and avoiding fresh long entries at current levels. On the downside, immediate support is seen at Rs 250, while resistance stays firm around Rs 270.
 

Glenmark Pharmaceuticals | Book Profits

Glenmark appears overextended after delivering a sharp 79 per cent rally over the past 3–4 months, making it increasingly vulnerable to a pullback or consolidation. The current price action suggests that upside momentum may be fading, and risk-reward is no longer favorable at these levels. Hence, we advise booking profits and avoiding fresh long positions for now, until a meaningful correction or base formation occurs.