Indian equity benchmark indices concluded sharply lower on Monday, June 9, 2026, influenced by muted global cues, escalating geopolitical tensions, and rising crude oil prices. The BSE Sensex plummeted 719.08 points, or 0.97 percent, to settle at 73,524.26, while the NSE Nifty50 dropped 243.70 points, or 1.04 percent, closing at 23,123.
Amidst this market volatility, select stocks including BSE Ltd, Wipro, and Rail Vikas Nigam Ltd (RVNL) are drawing significant attention from traders. Jigar S Patel, Senior Technical Research Analyst at Anand Rathi Share and Stock Brokers, has provided insights into the potential movements of these stocks.
Wipro: Bearish Undertone Noted
Wipro Ltd has recently broken below its crucial support level of Rs 186 and continues to trade beneath it. According to Anand Rathi analysts, a sustained close below Rs 186 could push the stock further down towards Rs 175 in the near term. The immediate resistance for Wipro is identified at Rs 196. The stock is currently trading below all major Exponential Moving Averages (EMAs), indicating a prevailing bearish sentiment.
"Wipro Ltd has breached the major support level of Rs 186 and is currently trading below it. A decisive close below Rs 186 could drag the stock towards Rs 175 in the near term," stated Jigar S Patel. He advises a wait-and-watch approach for investors until clearer market signals emerge.
Rail Vikas Nigam (RVNL): Further Downside Risk
Similar to Wipro, Rail Vikas Nigam (RVNL) has also breached its significant support level of Rs 249 and is trading below this mark. Analysts suggest that a further decisive close below Rs 238 could see the stock decline towards Rs 225 in the immediate future. RVNL's immediate resistance is pegged at Rs 250. Like Wipro, RVNL is trading below all major EMAs, signaling a bearish undertone.
Jigar S Patel highlighted, "RVNL has breached the major support level of Rs 249 and is currently trading below it. A further decisive close below Rs 238 could drag the stock towards Rs 225 in the near term." Investors are advised to adopt a cautious, wait-and-watch strategy for RVNL.BSE Ltd: Correction and Accumulation Opportunity
BSE Ltd is currently experiencing a pullback phase following a robust rally that saw its share price surge from approximately Rs 2,800 to Rs 4,400. The stock is presently trading around Rs 3,296. Its price action is observed below the 20-Day Exponential Moving Average (DEMA) but remains above the 50-DEMA, suggesting that the ongoing correction might extend towards the 50-DEMA, which is positioned near Rs 3,628.
For investors, Anand Rathi suggests considering accumulation of BSE shares near the 50-DEMA zone. Until then, a wait-and-watch approach is recommended. Key support for BSE is established at Rs 2,600, with resistance noted at Rs 4,135.