Stocks to buy for the short term: Indian equity benchmark Nifty 50 extended gains for the third consecutive session on Monday, April 6, gaining over 1% and reclaiming the 22,968 mark. Over the last three sessions, the index has risen by almost 3%.
While the sentiment has improved, the market may find it difficult to extend gains and may see volatility as Brent crude remains above the $110 per barrel mark and the end to the is still not in sight.
Market experts suggest investors should stay cautious and maintain prudence while picking stocks.
Vishnu Kant Upadhyay of Master Capital Services and Aakash Shah of Choice Broking recommend the following six stocks to buy for the next 1-2 weeks.
Stock picks for the short term
Expert: Vishnu Kant Upadhyay, AVP- Research, Master Capital Services Limited
Axis Bank | Previous close: ₹1,245.30 | Target prices: ₹1,343 and ₹1,365 | Stop loss: ₹1,165
Upadhyay highlighted that shares are showing signs of a bullish reversal after finding support near a rising trendline, indicating demand at lower levels.
The stock has formed a well-defined double bottom pattern, supported by positive RSI divergence, highlighting weakening downside momentum.
The recent breakout from this formation signals a shift in structure, with price reclaiming key moving averages.
EMA alignment is gradually improving, while RSI trends upward and MACD supports the bullish bias.
“Sustained strength above the breakout zone could drive further upside in the near term,” said Upadhyay.
FSN E-Commerce Ventures (Nykaa) | Previous close: ₹252.52 | Target prices: ₹275 and ₹282 | Stop loss: ₹232
As per Upadhyay, shares continue to exhibit a strong bullish structure on the broader chart, consistently forming higher highs and higher lows, indicating sustained uptrend strength.
The recent breakout from consolidation near a key horizontal support, coinciding with the 200 EMA, reinforces base formation.
The stock has now reclaimed all its key moving averages, with improving EMA alignment supporting momentum. RSI is trending in a healthy zone, while MACD remains in bullish territory.
“Sustained strength above the breakout zone may further drive upside traction,” said Upadhyay.
CCL Products (India) | Previous close: ₹1,116.90 | Target prices: ₹1,210 and ₹1,240 | Stop loss: ₹1,024
Upadhyay pointed out that shares maintain a strong bullish structure, sustaining above its recent all-time high breakout zone, indicating firm price acceptance at higher levels.
The stock is consolidating above the breakout, reflecting underlying strength and accumulation.
Price action continues to form higher highs and higher lows, while trading above all key EMAs with a positive alignment across timeframes.
“Volumes remain supportive of advances. Momentum indicators are constructive, with MACD in positive territory and RSI holding near the 60 zone, suggesting healthy strength without overbought conditions, favouring continuation of the uptrend,” said Upadhyay.
Expert: Aakash Shah, Research Analyst at Choice Broking
Coal India | Previous close: ₹459.55 | Target price: ₹500 | Stop loss: ₹435
Shah said share price is displaying strong technical strength on the weekly chart, having recently broken out of a descending triangle pattern—a classic bullish signal.
Post-breakout, the stock entered a brief consolidation phase, forming a narrow range, which indicates healthy price absorption.
This consolidation has now resulted in another breakout, reinforcing the bullish bias and suggesting continuation of the uptrend.
The overall structure reflects strong demand at higher levels.
“As long as the stock holds above the key support level of ₹435, the momentum is likely to sustain. A continued move higher could take the stock towards the ₹500 target zone in the near term,” said Shah.
Wipro | Previous close: ₹197.29 | Target price: ₹220 | Stop loss: ₹185
According to Shah, appears to be attempting a reversal after a prolonged downtrend, currently hovering near ₹197.
A piercing line pattern has formed on the weekly chart, which is typically seen at the end of bearish phases and signals a potential bullish reversal.
Additionally, the stock is respecting a key support trendline, indicating buying interest at lower levels.
Momentum indicators are gradually improving, supporting the possibility of a base formation.
“As long as the stock sustains above the critical support zone of ₹185, the outlook remains positive. A move above current levels could push the stock towards the ₹210–220 target zone,” said Shah.
Trent | Previous close: ₹3,833.60 | Target price: ₹4,100 | Stop loss: ₹3,636
According to Shah, shares are showing early signs of stabilisation after a sustained downtrend, currently trading around the ₹3,800 zone.
The RSI is near 43 and has given a bullish crossover, indicating improving momentum from oversold conditions.
On the price action front, a bullish engulfing pattern has formed on the weekly chart, suggesting that buyers are gradually regaining control over sellers. This pattern often marks the beginning of a potential trend reversal.
“As long as the stock holds above the crucial support level of ₹3,636, the structure remains constructive. A sustained move higher could lead to an upside towards the ₹4,100 resistance zone,” said Shah.
Read all market-related news
Read more stories by
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.