Stocks to buy for the short term: Equity benchmark Nifty 50 ended with modest gains for the fourth consecutive session on Monday, September 8, driven by select auto majors, including Tata Motors, Mahindra and Mahindra, and Maruti Suzuki.
The index ended at 24,773, up 0.13 per cent, but the formation of an indecisive candle on the daily chart signals a lack of clear direction in the market at this juncture.
According to Shrikant Chouhan, the head of equity research at Kotak Securities, the market may remain . A fresh upside is possible only after crossing 24,900, above which the index could move up to 25,000. Further upside may also continue, potentially lifting the index up to 25,100.
On the downside, 24,650 and 24,600 are key support zones for day traders, and if the index falls below 24,600, then it might fall to 24,500 or 24,450 in the short term, Chouhan said.
For the short term, experts suggest caution and betting on stocks with favourable fundamental and technical indicators.
Vishnu Kant Upadhyay of Master Capital Services and Amruta Shinde of Choice Broking recommend six stocks to buy for the next 2-3 weeks. Take a look:
Stock picks for the short term
Expert: Vishnu Kant Upadhyay, Assistant Vice President – Research & Advisory at Master Capital Services
Zydus Lifesciences | Buy at ₹1,009.65 | Target prices: ₹1,140 and ₹1,180 | Stop loss: ₹950
On daily charts, has broken out of an inverse head-and-shoulders formation, highlighting a bullish reversal setup.
Price action shows strong follow-through as the stock has moved above all key moving averages, reaffirming trend strength.
Rising volumes supported the breakout, confirming active buyer participation. The RSI is pointing upward, indicating improving momentum, while MACD has triggered a fresh bullish crossover.
The overall structure suggests continuation of the uptrend with scope for sustained upside.
Exide Industries | Buy at ₹427.35 | Target prices: ₹470 and ₹490 | Stop loss: ₹395
has staged a strong trend reversal after breaking out of a prolonged consolidation range on the daily charts.
A decisive bullish candle, backed by higher volumes, confirms fresh momentum.
The price action shows a clear shift towards higher highs and higher lows, while the stock has regained control over all its key moving averages, strengthening the outlook.
Momentum indicators add conviction, with RSI trending higher and MACD generating a bullish crossover, indicating sustained upside potential in the coming sessions.
Tanla Platforms | Buy at ₹660.60 | Target price: ₹750 and ₹780 | Stop loss: ₹620
has staged a bullish reversal with a breakout from an inverse head-and-shoulders pattern on the daily chart.
The stock not only reclaimed all key moving averages but also drew strength from its long-term horizontal support visible on monthly charts.
Healthy volumes backed the breakout, adding conviction to the move. Momentum indicators support the trend, with RSI rising steadily and MACD in a bullish crossover.
Overall, the structure signals renewed strength and potential for sustained upside.
Expert: Amruta Shinde, Research Analyst, Choice Broking
FSN E-Commerce Ventures (NYKAA) | Buy at ₹247.80 | Target price: ₹281 | Stop loss: ₹230
is showing bullish momentum after breaking out of a prolonged rounding bottom pattern, signalling a potential reversal from a key support zone.
A decisive close above the major resistance level of ₹250, supported by rising volumes, confirms strong buying interest and validates the breakout.
This momentum suggests further upside, with an immediate target of ₹281 in the short term.
The RSI at 73.43 is trending upward, reflecting robust buying momentum and the strength of the uptrend.
Additionally, the stock is trading above its 20-day, 50-day, and 200-day EMAs, highlighting positive sentiment across short-, medium-, and long-term timeframes.
“Traders may consider entering near ₹247.28 with a target of ₹281 and a stop loss at ₹230. Support lies at ₹240 in case of minor pullbacks, making the setup favourable,” said Shinde.
Aditya Birla Capital | Buy at ₹288.90 | Target price: ₹340 | Stop loss: ₹267
recently broke out from a cup-and-handle pattern on the weekly chart, followed by a successful retest, signalling renewed upward momentum.
On the daily timeframe, the stock has also moved above the key resistance level of ₹285, forming bullish structures that confirm a strong technical setup.
Price action indicates accumulation and reduced selling pressure near the breakout zone, supporting the ongoing uptrend.
“A decisive close above ₹300, backed by strong volumes, could trigger a move toward ₹340 in the mid- to long term,” said Shinde.
The stock trades above its 20, 50, 100, and 200-day EMAs, underscoring strength across all timeframes. The RSI at 60.76 is trending higher, reflecting robust momentum.
“Traders may adopt a buy-on-dips strategy near ₹288.90, with support at ₹275, a stop loss at ₹267, and targets toward ₹340,” Shinde said.
Lemon Tree Hotels | Buy at ₹177.93 | Target price: ₹208 | Stop loss: ₹163
, after a strong rebound from its key support zone, is reflecting renewed strength in price action.
The stock has broken out of a prolonged consolidation phase on the daily chart and is now trading at its all-time high, signalling potential for a sustained bullish trend.
The breakout, accompanied by rising volumes, highlights strong buying interest and increasing market participation.
“A sustained move above ₹180 could further strengthen momentum, opening the way toward ₹208 in the near term,” said Shinde.
The RSI is at 70.66 and trending upward, indicating robust momentum with scope for additional gains. The stock is also trading comfortably above its 20, 50, 100, and 200-day EMAs, underscoring strength across all timeframes.
“Support is placed at ₹170. Traders may consider long positions near ₹177.93 with a strict stop loss at ₹163,” Shinde 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.