What to do with Eternal stock as Deepinder Goyal resigns? Tech view here

Drumil Vithlani of Bonanza expects Eternal to consolidate in the existing trading range, as one of the key momentum oscillators indicates lack of directional trend for the stock.

Eternal stock has witnessed heavy trading activity today after the company announced its Q3 results, and the founder of Zomato Deepinder Goyal resigned from his post of Director, Managing Director & Chief Executive Officer of the company.  Eternal is the parent company of food delivery giant Zomato and quick-commerce platform Blinkit.  On Thursday, the stock zoomed 7.5 per cent to hit an intra-day high at ₹305. In the process, the stock had surged as much as 13.1 per cent in just two trading sessions.  Eternal, however, witnessed significant selling pressure at higher levels, as a result of which the stock erased its intra-day gain, and plunged to a low of ₹276 - down 9.5 per cent from the day's high. At 10:50 AM, the stock was trading on a flat note around ₹284, with a combined trading volume of around 98 million equity shares on the BSE and the NSE.  The company on Wednesday after market hours reported a 72.8 per cent jump in Q3FY26 net profit at ₹102 crore as against ₹59 crore in Q3FY25. Eternal's revenue more-than-doubled to ₹16,315 crore from ₹5,405 crore during the same period.  Eternal also informed exchanges that its Director, Managing Director & Chief Executive Officer, Deepinder Goyal resigned from his post effective February 1, 2026.  ALSO READ | Eternal up 6%; here's how analysts view Q3, leadership transition  Meanwhile, with today's up move, Eternal stock briefly bounced back above its 50-day moving average (50-DMA), which stands at ₹291.40, and almost reached the daily Supertrend line at ₹307.35 levels. 

Eternal stock chart:

Current Market Price: ₹284 

 

  Drumil Vithlani, technical analyst at Bonanza reckons that the Eternal stock is in a consolidation zone in the range of ₹275 - ₹305, as per the charts.  "The stock is witnessing good buying interest closer to ₹275 levels on the downside, while a strong supply area is visible around ₹300 - ₹305," says Drumil Vithlani.  The daily chart above shows that Eternal stock has been trading below the 100-DMA since the breakdown in mid-November 2025. Whereas, a cluster of multiple lows is seen around ₹275 levels earlier this month. In between stands the 200-DMA at ₹285.50.  The analyst believes that a fresh directional trend will emerge only after a breakout from the current zone. Vithlani highlights that one of the key momentum oscillators such as the 14-day Relative Strength Index (RSI) is hovering below 50, thus signalling lack of directional strength at the counter.  However, over the long-term Eternal stock can potentially rally up to 18 per cent from current levels, believes Anand James, Chief Market Strategist, Geojit Investments.  "The stock is witnessing a bullish wedge breakout with eyes on ₹334 as the first objective. However, this set-up is being challenged by a formidable horizontal resistance at ₹305. But, unless we see a fall back below ₹287, we will remain optimistic that the obstacles will be overcome and the upswing will resume," explains James.  Disclaimer: The views expressed by the brokerage/ analyst in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.