Stocks to buy for the short term: The stock market benchmark Nifty 50 ended in the red on Monday, snapping its two-day winning run, due to profit booking. The index ended at 23,946 after touching an intraday high of 24,120.
Vishnu Kant Upadhyay, AVP- Research at Master Capital Services, pointed out that the index encountered selling pressure near the 100-day EMA (exponential moving average) of around 24,150, highlighting the significance of this overhead resistance.
The index continues to consolidate within a well-defined 23,800-24,250 range, with the lower band reinforced by the 21 and 55-day EMAs, while the upper band aligns with the 100-day EMA.
Upadhyay added that this EMA convergence reflects a phase of consolidation following the recent recovery.
“The broader technical structure remains range-bound with a bullish bias, as the index continues to hold above its key short-term support zone. Key support for the index is 23,790 and 23,620, while resistance is at 24,130 and 24,262,” said Upadhyay.
Experts recommend focusing on a stock-specific approach in this market, as there are opportunities in many sectors even as broader market sentiment remains cautious.
Stock picks for the short term
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.
Expert: Vishnu Kant Upadhyay, AVP- Research at Master Capital Services
Trent | Previous close: ₹3,258.30 | Target prices: ₹3,540 and ₹3,600 | Stop loss: ₹3,000
Upadhyay pointed out that the share price has confirmed a bullish reversal after breaking out of an inverse head and shoulders pattern above ₹3,000.
The stock is now trading comfortably above this breakout level and all its key moving averages, reinforcing the strength of the prevailing uptrend.
The price action continues to exhibit a higher high, higher low structure, while holding above the 50% Fibonacci retracement level on the long-term chart, indicating sustained bullish momentum. RSI at 63 reflects healthy buying strength without being overbought.
Torrent Pharmaceuticals | Previous close: ₹4,657.60 | Target prices: ₹4,920 and ₹5,000 | Stop loss: ₹4,430
Upadhyay underscored that share price has reinforced its primary uptrend by delivering a decisive breakout above the rising channel near ₹4,650, registering a fresh all-time high on a closing basis.
The breakout was accompanied by a sharp surge in volumes, reflecting strong institutional participation.
Price action continues to follow a textbook Dow Theory structure, with consistent higher highs and higher lows while taking support near the rising 21 EMA on every retracement.
The stock remains comfortably above all its key moving averages, reinforcing trend strength across timeframes. RSI at 65 indicates healthy momentum without entering overbought territory, suggesting scope for further upside.
Craftsman Automation | Previous close: ₹9,388 | Target prices: ₹10,000 and ₹10,200 | Stop loss: ₹8,800
As per Upadhyay, share price has confirmed a fresh leg of its uptrend after recording a decisive breakout above the ₹8,150 resistance zone with strong volume participation.
Since the breakout, prices have been advancing within a well-defined bullish channel, consistently finding support around the rising 21 and 55-day EMAs.
Importantly, the intervening pullbacks have been accompanied by muted volumes, indicating healthy profit booking rather than distribution.
The stock continues to maintain a textbook higher high, higher low structure and is trading close to its all-time high. RSI at 64 reflects healthy momentum without entering overbought territory, keeping the bullish outlook firmly intact.
Expert: Aakash Shah, Technical Analyst at Choice Broking
Lloyds Metals And Energy | Previous close: ₹1,805.70 | Target price: ₹1,950 | Stop loss: ₹1,720
Shah highlighted that share price is displaying renewed strength after completing a healthy consolidation near the 50-day EMA, a zone that has repeatedly attracted buying interest over the past few weeks.
The stock has once again witnessed demand from this support area and has resumed trading above all its key moving averages, indicating that the primary uptrend remains intact.
The recent price action reflects strong participation from buyers, while the RSI has given a positive crossover and is currently placed at 58.12, signalling improving momentum.
“A sustained move above the recent consolidation range could trigger the next leg of the rally towards ₹1,950. On the downside, ₹1,720 remains an important support level and should be maintained as the stop-loss for the trade,” said Shah.
Supriya Lifescience | Previous close: ₹970.75 | Target price: ₹1,085 | Stop loss: ₹918
As per Shah, share price continues to remain in a strong uptrend after delivering a decisive breakout above its previous all-time high zone near ₹832.
Since the breakout, the stock has rallied nearly 32%, highlighting exceptional buying strength and sustained momentum.
Following the sharp advance, the stock entered a brief consolidation phase with mild profit booking, while consistently finding support around the 20-day EMA.
The latest trading session indicates another successful rebound from this key moving average, suggesting that buyers continue to defend lower levels.
The stock is also trading above all major EMAs, keeping the broader trend firmly positive.
“A sustained move from current levels can lead to a rally towards ₹1,085, while ₹918, which coincides with the 20-day EMA, should be considered the ideal stop loss,” said Shah.
Goodluck India | Previous close: ₹1,474.60 | Target price: ₹1,600 | Stop loss: ₹1,390
Shah highlighted that share price is showing strong bullish momentum after witnessing a healthy rebound from the 50-day EMA, reaffirming the medium-term uptrend.
The stock has recovered sharply from the ₹1,400 zone and is now trading very close to its all-time high, indicating sustained buying interest.
A notable spike in trading volume during the latest session further strengthens the possibility of fresh accumulation by market participants.
Technically, the stock is comfortably trading above all major moving averages, while the RSI at 63.86 reflects positive momentum without entering an overbought zone.
“A sustained move above the current levels could trigger a fresh breakout towards ₹1,600. On the downside, ₹1,390 remains a crucial support and should be maintained as the stop-loss level,” said Shah.
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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.