Stocks to buy for the short term: Market benchmark Nifty 50 ended 0.50% lower at 23,779 on Monday, forming a bearish red candle on the daily chart.
Slipping decisively below the crucial support level of 23,800, the price is now signalling further weakness. Experts see the possibility of a move towards the next major support at 23,600.
According to Vishnu Kant Upadhyay, AVP-Research at Master Capital Services, the short-term chart structure remains bearish, marked by a consistent pattern of lower highs and lower lows, while the index continues to trade below its key short-term moving averages.
“Sustained trading below the 24,000 psychological level keeps the bias firmly tilted towards a sell on rise strategy. 23,630-23,500 remains the key support zone, while 23,940-24,030 is likely to act as the immediate resistance zone,” said Upadhyay.
Stock picks for the short term
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.
Expert: Vishnu Kant Upadhyay, AVP- Research at Master Capital Services
Angel One | Buy at ₹304 | Target prices: ₹330 and ₹340 | Stop loss: ₹286
According to Upadhyay, Angel One share price has shown a strong reversal from the ₹284 horizontal support zone, where the stock also formed a bullish RSI divergence, indicating improving underlying momentum.
The subsequent sharp recovery has helped the price reclaim all its key moving averages, strengthening the short-term technical setup.
The chart structure has turned positive, with the stock forming a fresh high above the ₹300 mark.
RSI around 57 further indicates improving momentum while leaving room for additional upside.
“Sustained trading above ₹300 could support continuation of the recovery, with the overall setup remaining favourable as long as the stock holds above its reclaimed moving averages and ₹284 support,” said Upadhyay.
BEML | Buy at ₹2,097 | Target prices: ₹2,265 and ₹2,300 | Stop loss: ₹1,965
Upadhyay underscored that BEML share price has turned technically positive after delivering a decisive breakout above the declining trendline near ₹1,970, supported by above-average volumes, signalling renewed buying interest.
The chart structure has strengthened above ₹1,880, with clear higher highs and higher lows.
The stock is comfortably trading above all its key short- and long-term moving averages, reinforcing the prevailing bullish momentum.
RSI at 67 reflects strong momentum while still leaving room for further upside.
“Sustained trading above the breakout zone could support continuation of the upward trend, with ₹1,970- ₹2,000 likely to act as an important support area on any near-term pullback,” said Upadhyay.
Rainbow Childrens Medicare | Buy at ₹1,470 | Target prices: ₹1,580 and ₹1,620 | Stop loss: ₹1,400
Upadhyay said Rainbow Children’s Medicare share price maintains a positive short-term technical outlook after witnessing a corrective decline from the ₹1,600 resistance zone.
The stock found support around the ₹1,400 horizontal support area and subsequently witnessed buying interest, indicating strong demand at lower levels.
After consolidating near the support zone, the stock has started to regain momentum and has reclaimed its key short-term moving averages.
The recent improvement in price action suggests a potential resumption of the broader uptrend. RSI has also improved to around 53, indicating strengthening momentum while leaving room for further upside.
“Sustained trading above the ₹1,468- ₹1,480 zone could further reinforce the bullish setup,” said Upadhyay.
Expert: Hitesh Tailor, Technical Research Analyst at Choice Broking
Titagarh Rail System | Buy at ₹896 | Target price: ₹985 | Stop loss: ₹850
Tailor said Titagarh Rail System share price is showing improving bullish strength after finding strong support around the 200-Day EMA, where accumulation was visible, followed by a decisive sideways range breakout.
The breakout is supported by improving volume, indicating increased buying participation, while bullish technical indicators further strengthen the positive setup.
On the hourly chart, a falling trendline breakout along with a bullish EMA crossover signals a favourable shift in short-term momentum.
“The setup favours buying around ₹896, with ₹850 as the strict risk-control level and ₹985 as the potential upside objective. Maintain disciplined risk management,” said Tailor.
Zydus Lifesciences | Buy at ₹1,157 | Target price: ₹1,260 | Stop loss: ₹1,100
According to Tailor, Zydus Lifesciences is showing a constructive technical setup after forming a bullish engulfing candlestick pattern on the daily chart, supported by the 20/50-day EMA zone following the recent retracement, indicating renewed buying interest.
The stock is currently quoting around ₹1,157, while the positive EMA structure and healthy volume further strengthen the bullish bias.
“The setup favours fresh buying around the current market price, with ₹1,100 as the strict risk-control level and ₹1,260 as the potential upside objective. Adhere to disciplined risk management,” said Tailor.
Paras Defence and Space Technologies | Buy at ₹1,489 | Target price: ₹1,650 | Stop loss: ₹1,410
Tailor said Paras Defence is showing a strong technical structure, with a well-defined higher high–higher low formation on the daily chart, supported by the 20-Day EMA during the recent retracement, indicating sustained buying interest at lower levels.
The stock is currently trading around ₹1,489 and has delivered an hourly sideways range breakout followed by a strong rebound, while RSI has taken support near the midpoint and turned higher, signalling improving momentum.
“The setup remains favourable for buying around the current market price, with ₹1,410 as the strict risk-control level and ₹1,650 as the potential upside objective,” said Tailor.
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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 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.
