Book Profits in BHEL, Glenmark Pharma & Canara Bank: Anand Rathi

Anand Rathi’s technical analyst flags resistance zones and bearish divergences in BHEL, Glenmark Pharmaceuticals, and Canara Bank; suggests traders book profits amid fading momentum.

July-15, 2025: As Indian stock markets started the week on a subdued note, technical experts from Anand Rathi are recommending investors book profits in select high-performing stocks including Bharat Heavy Electricals Ltd (BHEL), Glenmark Pharmaceuticals, and Canara Bank, citing key resistance levels and bearish indicators.

On Monday, benchmark indices ended in the red, with the BSE Sensex falling 247.01 points (0.30%) to close at 82,253.46, while the NSE Nifty 50 dropped 67.55 points (0.27%) to settle at 25,082.30.

Also Read: Indian Stock Market Today: 8 Key Overnight Developments – Gift Nifty, Trump’s Tariff Ultimatum, China’s Economic Data in Focus

Here’s a breakdown of Anand Rathi’s outlook on the three stocks:

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Canara Bank – Book Profits

Resistance Zone: ₹115–₹118
Support Level: ₹110

Canara Bank shares are facing multiple resistance levels near ₹115–118, which also aligns with their previous historical peak. A bearish divergence on momentum indicators is emerging, signaling a pause or reversal in the uptrend. Investors are advised to book profits at current levels and avoid new long positions for now.

Also Read: Q1 Results Today, July 15: HDFC Life, ICICI Lombard, GM Breweries, Just Dial Among 21 Firms to Report Earnings

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BHEL – Book Profits on Bounce

Resistance Zone: ₹265–₹270
Support Level: ₹250

BHEL shares are encountering strong resistance near ₹265–270, a zone that matches their historical highs and represents a critical supply area. Bearish signals on technical charts point to weakening upside momentum. Traders are advised to book profits on any upward bounce and refrain from fresh buying at these levels.

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Glenmark Pharma – Exit After Sharp Rally

Glenmark Pharmaceuticals has seen an impressive 79% rally over the past 3–4 months. However, the rally now appears overextended, and momentum indicators suggest a pullback or consolidation may follow. Analysts recommend profit-booking and waiting for a correction or base formation before entering again.

Also Read: No Panic Yet: S&P 500 Shrugs Off Trade Shock

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Market Sentiment and JP Power Rally

The broader market also saw action in JP Power, which surged over 15% to ₹27.22, taking its one-month gain to nearly 54%. However, amid subdued Q1 earnings and uncertainty around US-India tariff negotiations, investors are being advised caution on high flyers.

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BHEL share news, Glenmark Pharma share advice, Canara Bank stock outlook, Anand Rathi stock tips, profit booking recommendations, Indian stock market analysis, July 15 market outlook, resistance levels in stocks, technical analysis Indian stocks, bearish divergence stocks

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