Stocks to buy for the short term: The Indian stock market ended lower on Monday despite strong Q2 GDP data, on profit booking ahead of the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting this week. The strong growth and low inflation scenario signal the central bank may maintain a pause on benchmark interest rates for the third consecutive meeting.
Rupee’s weakness and a meagre 0.7% year-on-year (YoY) in GST collection in November also influenced market sentiment.
On the technical front, experts see support for the Nifty 50 at 26,100 and resistance at 26,300.
“Call writing at 26,200 and 26,300 suggests that the index may trade sideways in the short term with a mild bearish undertone. The immediate support is placed at 26,100, with resistance at 26,300, while positional support stands at 26,000 levels,” said Vatsal Bhuva, Technical Analyst at LKP Securities.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Equity Broking recommend six stocks to buy for the next 1-2 weeks. Take a look:
Expert: Vishnu Kant Upadhyay, AVP- Research and Advisory, Master Capital Services
Marico | Buy at ₹718 | Target prices: ₹765 and ₹780 | Stop loss: ₹688
As per Upadhyay, is showing a constructive setup as the price takes support at the 100-day EMA, aligning with a key horizontal demand zone.
This confluence of dynamic and static support strengthens the bullish bias, indicating absorption of selling pressure.
“As long as the stock holds above the ₹705-710 region, a rebound toward ₹765-780 remains likely. The broader trend structure stays intact, supported by sustained trading above the 200-day EMA, keeping the outlook positive,” said Upadhyay.
MRPL | Buy at ₹162 | Target prices: ₹178 and ₹185 | Stop loss: ₹152
Upadhyay underscored that Mangalore Refinery and Petrochemicals () maintains a bullish undertone as the price retraces into the former breakout zone, coinciding with the short-term EMA cluster, indicating dynamic support.
The broader structure remains intact with a steady ascending trendline reinforcing the positive bias.
“Recent candles show demand absorption near ₹157-160, suggesting sellers are losing strength. A rebound from this confluence zone could reignite momentum toward ₹178-185, keeping the uptrend trajectory firmly in place,” said Upadhyay.
L&T Technology Services (LTTS) | Buy at ₹4,445 | Target prices: ₹4,800 and ₹4,900 | Stop loss: ₹4,140
Upadhyay said has given a breakout above a key falling trendline on the daily chart, signalling a potential bullish reversal.
The stock has bounced from recent support zones, indicating renewed buying interest after a prolonged consolidation phase.
“Sustained price action above short-term moving averages is reinforcing positive momentum, while improving volumes suggest fresh accumulation. With this breakout, LTTS may extend its upmove towards higher resistance levels in the near term,” said Upadhyay.
Expert view: Hitesh Tailor, Research Analyst, Choice Broking
Varun Beverages (VBL) | Buy at ₹484.15 | Target price: ₹530 | Stop loss: ₹460
Tailor pointed out that recently witnessed a retracement before bouncing back from a strong support zone, indicating renewed buying interest.
The stock is moving within a sideways range on the daily time frame and is now on the verge of breaking out of a falling trendline.
“On the upside, immediate resistance lies in the ₹485– ₹490 zone, aligned with the 200-day EMA, and a decisive breakout and sustained above this range may strengthen upward momentum,” said Tailor.
“On the downside, support is placed near ₹463, aligned with the rising 20-day EMA. RSI at 70.51 is moving upward after a consolidation phase, indicating strengthening bullish sentiment. Short-term traders may consider buying at current levels with a stop loss of ₹460 for a target of ₹530,” Tailor said.
Kalyan Jewellers India | Buy at ₹506.95 | Target price: ₹560 | Stop loss: ₹480
According to Tailor, is consolidating within a range after forming a swing low near ₹480, where it has taken strong support.
“The stock is developing an inverse head and shoulder pattern and is on the verge of a trendline breakout, which, if sustained, may trigger a strong upside move toward the ₹550– ₹560 zone,” said Tailor.
“On the downside, immediate support is seen at ₹498, aligned with the 20-day EMA. RSI at 58.22 has bounced from lower levels, indicating improving bullish momentum. Short-term traders may consider buying at current levels with a stop loss of ₹480 for a target of ₹560, with proper risk management,” Tailor said.
Dr. Reddy’s Laboratories | Buy at ₹1,260.10 | Target price: ₹1,355 | Stop loss: ₹1,210
As per Tailor, Dr Reddy’s Laboratories has recently formed an accumulation near the previous swing zone, indicating renewed buying interest as the stock moves higher.
“Immediate support is placed near ₹1220, providing a strong cushion on the downside. The stock is trading above the key 20, 50, and 200 EMAs, reflecting a healthy bullish trend,” said Tailor.
“On the upside, immediate resistance lies near ₹1,275, aligned with the falling trendline, and the price is on the verge of a breakout. A decisive move above this level may accelerate momentum. RSI at 63.97 indicates strength for trend continuation. Traders may consider buying at current levels with a stop loss of ₹1,210 for a target of ₹1,355,” Tailor said.
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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.