Eternal vs Swiggy: Tech charts favour this stock, hint up to 21% upside

Eternal is seen trading in a tight range of ₹220 - ₹247, with strong support seen around ₹218 levels; Chart hints at a likely positive bias for this stock; while Swiggy may face downward pressure.

Shares of online food-delivery cum quick-commerce-space - Eternal (formerly known as Zomato) and Swiggy - were seen trading on a tepid note on Monday in an otherwise firm market.  Eternal stock had plunged nearly 5 per cent to a low of ₹225.70 on the NSE amid reports of likely passive outflows in the near-term owing to global indices rejig. According to a report by IIFL Capital Services Eternal could see passive outflows of $840 million due to the impending rebalancing of FTSE and MSCI indices. READ MORE  On the earnings front, Eternal reported a 77 per