Stocks to buy for the short term: The Sensex and the Nifty 50 fell for the third consecutive session on Monday, 11 May, as the hopes of a possible US-Iran talks weakened, crude oil prices jumped, and the rupee fell to record lows. Prime Minister Narendra Modi’s austerity call also influenced sentiment.
The plunged 1.50% to close the day at 23,815.85. On Tuesday, the index may fall further amid weak global cues.
Experts believe that if the index falls below 23,800, it may drop to 23,500 or even lower.
Experts say this is the time to bet on stocks with strong fundamentals and favourable technical indicators at this juncture.
Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Broking recommend the following six stocks to buy for the next 1-2 weeks.
Stock picks for short term
Expert: Vishnu Kant Upadhyay, AVP- Research at Master Capital Services
Emcure Pharmaceuticals | Previous close: ₹1,678 | Target prices: ₹1,820 and ₹1,860 | Stop loss: ₹1,580
According to Upadhyay, continues to exhibit a strong bullish setup despite the recent pullback from its record high zone.
After delivering a decisive all-time high breakout, the stock has entered a controlled retracement phase and is currently taking support near the 21 EMA, indicating a healthy mean reversion within an ongoing uptrend.
Momentum indicators have also normalised, with RSI cooling toward the 50 mark, reducing the possibility of near-term overheating.
The broader price structure remains constructive, as the stock continues to maintain a sequence of higher highs and higher lows.
“Lower participation during the decline further suggests an absence of aggressive distribution, keeping the medium-term trend firmly biased on the upside,” said Upadhyay.
Coal India | Previous close: ₹464.45 | Target prices: ₹495 and ₹510 | Stop loss: ₹440
As per Upadhyay, is witnessing a structurally strong uptrend, which aligns well with the classic Dow Theory characteristics of higher highs and higher lows.
The stock has been witnessing healthy pullbacks toward the 21- and 50-EMA levels, indicating sustained buying interest on dips rather than weakness.
Volume behaviour also remains constructive, with stronger participation during breakout phases and relatively muted volumes during retracements, reflecting limited selling pressure.
“Recently, the stock formed a bullish engulfing candle near the 21 EMA support zone, suggesting renewed momentum and increasing probability of continuation of the prevailing upward trend,” said Upadhyay.
Zydus Lifesciences | Previous close: ₹956.95 | Target prices: ₹1,020 and ₹1,040 | Stop loss: ₹910
Upadhyay said has delivered a strong multi-month breakout, supported by a bullish candle formation with a long lower wick, highlighting aggressive buying interest at lower levels.
The stock had earlier formed a positive RSI divergence near the 850 zone, signalling weakening bearish momentum and laying the foundation for the current reversal.
With the breakout, the price has also reclaimed all its key moving averages, while the 21 EMA crossing above the 55 EMA reflects improving short-term momentum.
“The overall structure now points toward strengthening bullish traction and potential upward move in the short term,” said Upadhyay.
Expert: Hitesh Tailor, Technical Research Analyst at Choice Broking
Torrent Pharmaceuticals | Previous close: ₹4,517.10 | Target price: ₹4,900 | Stop loss: ₹4,300
Tailor said is showing strong bullish momentum after breaking above its previous all-time high of ₹4,482.90 and sustaining above the breakout zone.
The stock is forming strong bullish candles on the daily chart, indicating continuation of the uptrend. Weekly structure remains positive with a clear higher high–higher low formation, Tailor noted.
“The technical setup favours buy at the current market price with strict stop loss at ₹4,300, while upside potential remains open towards ₹4,900 with proper risk management,” Tailor.
Welspun Corp | Previous close: ₹1,329.30 | Target price: ₹1,450 | Stop loss: ₹1,260
Tailor pointed out that is witnessing strong bullish momentum, supported by a sharp upside move followed by a breakout formation.
The stock recently consolidated in a lower timeframe range and has now delivered a decisive breakout with a close above the resistance zone.
The daily chart reflects a bullish engulfing pattern followed by breakout confirmation, indicating potential continuation of the uptrend. Short-term EMAs are sharply rising, highlighting sustained momentum strength, Tailor noted.
Sharda Cropchem | Previous close: ₹1,157.40 | Target price: ₹1,270 | Stop loss: ₹1,090
According to Tailor, is showing strong bullish momentum, trading above all key daily DEMAs, including the 20, 50, 100, and 200 levels, reflecting a healthy price structure and sustained uptrend.
The stock is also taking support near its 20 DEMA, indicating continued buying interest on dips.
Recently, it has broken out from a short-term consolidation zone, signalling continuation of upward momentum. RSI around 59.62 remains above the midpoint, highlighting underlying strength.
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Disclaimer: This story is for educational purposes only and does not constitute investment advice. 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.