Etenrl stock outlook
Eternal, the parent company of food-delivery app Zomato and grocery-delivery Blinkit, share price has appreciated by 3 per cent thus far in June. However, in the past four months, the stock has rallied as much as 26 per cent from its 52-week low of ₹212.60 to a high of ₹267.50 on the NSE. The stock has outperformed the NSE benchmark, both in terms of monthly returns and pullback from the lows. In comparison, the Nifty has gained 1.7 per cent this month, and has moved up to 8 per cent higher from its March low. On the daily chart, Eternal stock is seen holding above its 100-day moving average (100-DMA) in recent trading sessions. That apart, the stock has witnessed a breakout above a key falling trend line, notes brokerage firm Bajaj Broking. Therefore, analysts at Bajaj Broking are bullish on Eternal, and expect the stock to rally to ₹290 levels from here.
Here’s why Bajaj Broking is bullish on Eternal
Eternal Current Market Price: ₹259 Buying Range: ₹254 – ₹260 Target Price: ₹260 Time Duration: 6 months
In the chart above, analysts at Bajaj Broking highlight a key breakout above the major falling supply line joining the highs of October 2025 (₹368) and February 2026 (₹308). The brokerage notes that Eternal stock has been sustaining above the breakout zone, signalling reversal of the corrective trend and thus offers a fresh entry opportunity. Secondly, analysts also flag that the stock recently generated a bullish crossover of 20- and 50-day exponential moving averages (EMAs). “As the 20-day EMA has moved above its 50-day EMA, highlighting strength and the momentum of the last 20 days is higher compared to the last 50 days thus supports the positive bias for the stock,” Bajaj Broking explained in its report titled – High Conviction MTF pick. ALSO READ | ITC can rally up to 13%; key momentum indicator flags ‘Buy’: Bajaj Broking With the stock consolidating in the range of ₹235 – ₹265 for the last nine weeks, analysts at Bajaj Broking believe that the current consolidation is approaching maturity and the stock may soon resume its up move. As a trading strategy the brokerage sees immediate support for Eternal stock placed around ₹235 – ₹240 levels, being the last two months lows and the key retracement of the recent pullback from ₹213 to ₹265. Going ahead, they expect the stock to head toward ₹290 level over the coming months, which represents the 50 per cent retracement of the entire decline from ₹368 to ₹213 and the measuring implication of the recent consolidation range (₹235 – ₹265). Adding to the bullish setup, Bajaj Broking report states that the daily Moving Average Convergence-Divergence (MACD) has given a buy signal by crossing above its 9-period average and is seen sustaining above the same, suggesting improving momentum and supporting the positive bias in the stock. Disclaimer: Views and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Reader’s discretion is advised.
