Stocks to buy for the short term: Nifty declined by nearly 0.30% during the morning session on Tuesday, 1 September, mirroring a weak global trend after an uptick in oil prices amid fresh escalations in the US-Iran tensions.
However, stronger-than-expected GDP data capped the losses. Despite the West Asian conflict, weaker monsoon, and uncertain US tariff policies, India’s GDP grew by 7.8% in Q1FY27.
On the technical front, 24,000 remains a key support for the Nifty 50. The index touched an intraday low of 24,009 during morning trading on Tuesday but then rebounded from that level.
According to Vishnu Kant Upadhyay, AVP-Research at Master Capital Services, the near-term technical setup remains weak, as the index continues to trade below its 21- and 55-day EMAs, indicating prevailing selling pressure.
“On the upside, the 24,200-24,300 range is likely to act as an important resistance zone due to the convergence of multiple moving averages. Meanwhile, the 24,000-23,900 zone remains a critical support area, where buying interest could help cushion any further decline,” said Upadhyay.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Sachin Gupta 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
Gabriel India | Target price: ₹1,600 and ₹1,660 | Stop loss: ₹1,330
Upadhyay pointed out that share price is exhibiting a strong short-term bullish setup after delivering a decisive breakout above the ₹1,320 resistance zone.
The stock subsequently retraced to retest the breakout level and bounced back sharply following a brief consolidation, confirming the strength of the breakout.
According to Upadhyay, the ₹1,320 zone also coincides with the 55 EMA, strengthening its importance as a support area.
“The stock has reclaimed all its key moving averages, while the chart structure continues to reflect a bullish sequence of higher highs and higher lows, indicating sustained upward momentum,” said Upadhyay.
Global Health | Target prices: ₹1,570 and ₹1,600 | Stop loss: ₹1,400
Upadhyay underscored that share price has extended its upward momentum following a breakout from the declining trendline near ₹1,405.
Following a healthy retest of the breakout zone, the stock resumed its uptrend and registered a fresh all-time high above ₹1,515 on a closing basis, supported by a significant surge in volumes.
“The price action remains robust, with periodic retracements towards the 21 EMA indicating healthy buying on dips. The broader chart structure continues to reflect strong momentum, while RSI at 61 suggests sufficient room for further upside in the short term,” said Upadhyay.
Sagility | Target prices: ₹52 and ₹54 | Stop loss: ₹43
According to Upadhyay, share price has registered a breakout on a closing basis from a rising channel pattern, signalling a positive short-term technical setup.
The stock is trading comfortably above all its key moving averages, reflecting sustained bullish momentum.
Further strengthening the outlook, the 21 EMA has crossed above the 200 EMA, indicating an improvement in the broader trend structure.
“The chart continues to exhibit strong price action, with the recent breakout suggesting renewed buying interest. As long as the stock sustains above the breakout zone, the short-term outlook remains bullish,” said Upadhyay.
Expert: Sachin Gupta, VP – Technical Research at Choice Equity Broking
Engineers India | Target price: ₹286 | Stop loss: ₹250
According to Gupta, share price has completed a classic double bottom reversal pattern near the ₹220–225 base zone on the daily chart, triggering a fresh upward impulse.
The stock is sustaining comfortably above all major exponential moving averages, 20, 50, 100, and 200 EMAs, confirming positive trend alignment and strong dynamic support from short-term averages.
The RSI (14) has advanced to 65.77, crossing above its signal line to reflect solid buying momentum and bullish expansion.
Petronet LNG | Target price: ₹330 | Stop loss: ₹285
Gupta underscored that share price is demonstrating robust bullish price action after breaking out of a tight accumulation zone to cross the psychological ₹300 mark.
The stock is sustaining comfortably above all key exponential moving averages, the 20, 50, 100, and 200 EMAs, confirming strong dynamic support and positive trend alignment.
Meanwhile, the RSI has surged to 68.37, expanding sharply above its signal line to signal dominant buyer control and building momentum.
“Supported by a clean continuation setup, the technical structure points toward further upside expansion. Maintain a stop loss at ₹285 for a target of ₹330,” said Gupta.
Polycab India | Target price: ₹10,125 | Stop loss: ₹8,990
Gupta said share price is exhibiting strong bullish strength following a clean consolidation range breakout on the daily timeframe.
The stock has formed a decisive bullish candle, breaking out above its multi-week trading range and sustaining comfortably above its key 20, 50, 100, and 200 EMAs to reaffirm underlying trend continuation.
Concurrently, the RSI has surged to 59.90, crossing above its signal line and the 50 level to indicate expanding upward momentum.
“Supported by positive structural alignment, further upside remains likely. Maintain a stop loss at ₹8,990 for a target of ₹10,125,” said Gupta.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of the expert, 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.