Eternal Industries: Strong Rebound, Uptrend Resuming

Technical View:

has bounced smartly from recent lows, gaining over 2% to close near ₹335. The stock has regained strength above short-term moving averages, signaling a potential continuation of its broader uptrend. RSI near 59 shows improving momentum without being overbought. Key support levels lie at ₹325 and ₹310, while resistance is seen near ₹345–₹355. A breakout above ₹355 could extend the rally toward ₹370+. Fundamental View: Eternal Industries, known for its PVC, HDPE, and CPVC piping solutions, has been showing consistent revenue growth driven by rising infrastructure demand, irrigation projects, and the government’s water supply initiatives. Expanding product portfolio, strong distribution network, and focus on industrial piping applications add long-term growth visibility. Risks: Margin pressures due to raw material volatility and high dependency on domestic demand cycles may cause short-term swings. Outlook: The bias remains bullish above ₹325. Sustained trade above ₹345 could trigger a move toward ₹370, while dips toward ₹310–₹320 may offer attractive accumulation zones for short-term traders.