Indian equity benchmark indices kicked-off the week on a muted note following PM Modi's appeal to stop buying gold and save crude, to manage India's import bill. This led to the risk-off sentiments among the traders. The BSE Sensex plunged 1,312.91 points, or 1.70 per cent, to close at 76,015.28, while NSE's Nifty50 cracked 360.30 points, or 1.49 per cent, to end at 23,815.85 for the day.

Select buzzing capital goods stocks including Siemens Ltd, ABB India and Bharat Heavy Electricals Ltd (BHEL) are likely to remain under the spotlight of traders for the session today. Here is what  Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers has to say on them ahead of Tuesday's  trading session:
 

Bharat Heavy Electricals | Book Profits | Resistance: Rs 410 | Support: Rs 380

BHEL appears extremely overextended in terms of both price action and momentum indicators after the recent sharp rally. The stock is currently trading significantly above its 20-day and 50-day DEMA, indicating stretched short-term conditions. Although the broader trend remains positive, the possibility of a pullback or consolidation cannot be ruled out at current levels. Momentum indicators are also hinting towards exhaustion after the strong up move. Hence, traders are advised to consider profit booking at higher levels rather than chasing fresh longs. From a technical perspective, the Rs 380 zone is expected to act as immediate support, while Rs 410 remains a key resistance level in the near term. Sustaining above resistance may trigger further upside, but risk-reward presently appears less favourable for aggressive buying.
 

Siemens | Book Profits | Resistance: Rs 3,700 | Support: Rs 3,555

Siemens is witnessing a pullback after a strong breakout rally seen in the previous month, where the stock had become technically overextended. The ongoing correction appears to be a healthy retracement towards its earlier breakout zone, which is placed near the Rs 3,420 level and is likely to act as an important support area. From a technical standpoint, the stock may continue to remain volatile in the near term as momentum cools off from elevated levels. Therefore, traders are advised to lock in profits on any possible bounce rather than initiating aggressive fresh positions at current levels. Immediate support is placed near Rs 3,555, while Rs 3,700 is expected to act as a key resistance zone. Sustaining above resistance could revive momentum, whereas weakness below support may extend the corrective phase further.
 

ABB India | Book Profits | Resistance: Rs 6,700 | Support: Rs 62,55

ABB India Ltd is undergoing a pullback following the strong breakout rally witnessed in the previous month, during which the stock turned technically overextended. The present correction appears to be a healthy retracement towards its earlier breakout zone near Rs 6,100, which is expected to act as a crucial support area. Technically, the stock may remain volatile in the short term as momentum indicators cool off from elevated levels. Hence, traders are advised to consider locking in profits on any recovery bounce instead of initiating aggressive fresh longs at current levels. Immediate support is placed around Rs 6,255, while Rs 6,700 is likely to act as a key resistance zone. A sustained move above resistance may revive bullish momentum, whereas weakness below support could lead to an extended corrective phase.