Top stocks to buy for the short term: Stock market benchmark Nifty 50 resumed its downward march on Monday, ending 0.70% down at 22,363 amid lingering geopolitical concerns, the dollar hovering near an 18-month high, and foreign capital outflow.
FPIs sold off Indian stocks worth ₹1,708.48 crore in the cash segment on 12 October.
On the technical front, experts underscore that the broader technical structure remains weak, with the formation of lower highs and lower lows continuing to reinforce the prevailing bearish trend.
“The index continues to trade below all its key moving averages, indicating persistent selling pressure and limited upside momentum. On the higher side, 22,500-22,600 has emerged as a fresh short-term resistance zone, while 22,200-22,000 remains a crucial support range on the downside,” said Vishnu Kant Upadhyay, AVP- Research at Master Capital Services.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Broking recommend buying the following six stocks for the next 1-2 weeks:
Expert: Vishnu Kant Upadhyay, AVP- Research, Master Capital Services
Netweb Technologies | Buy at ₹4,989 | Target prices: ₹5,500 and ₹5,600 | Stop loss: ₹4,550
As per Upadhyay, Netweb Technologies stock has delivered a bullish breakout from its brief consolidation phase around the 100 EMA, signalling renewed buying interest and strengthening price momentum.
The recent up move has enabled the stock to reclaim all its key moving averages, reinforcing the positive technical outlook.
The broader chart structure remains constructive, with a clear formation of higher highs and higher lows indicating sustained bullish momentum.
Furthermore, the RSI has climbed to 58, reflecting improving strength while leaving room for further upside.
“Sustained trading above the breakout zone could support the continuation of the uptrend, making the stock attractive from a bullish trading perspective,” said Upadhyay.
Sansera Engineering | Buy at ₹4,226 | Target prices: ₹4,660 and ₹4,750 | Stop loss: ₹3,860
Upadhyay underscored that Sansera Engineering stock continues to maintain a strong bullish trend, characterised by a consistent formation of higher highs and higher lows.
Historically, every price retracement has found support around the 21 EMA, highlighting sustained buying interest at lower levels.
The recent pullback towards this moving average has also cooled the RSI to 51, indicating moderation in momentum while leaving room for further upside.
“The broader chart structure remains positive, and a sustained hold above the 21 EMA could provide a foundation for renewed upward momentum. The stock remains well-positioned to resume its uptrend if buying interest strengthens,” said Upadhyay.
Gland Pharma | Buy at ₹3,088 | Target prices: ₹3,400 and ₹3,500 | Stop loss: ₹2,860
Upadhyay said Gland Pharma stock has extended its bullish trajectory after breaking out of a rising consolidation channel, supported by above -average volumes.
The stock has maintained a strong uptrend since decisively crossing the ₹2,200 resistance levels, consistently forming higher highs and higher lows.
Following the recent breakout, the price has retraced towards the breakout zone, potentially offering a favourable buy on dips opportunity.
“The stock continues to trade above its key moving averages, reinforcing the underlying bullish structure. The RSI has cooled to 61, indicating healthy momentum without entering overbought territory. Sustained strength above the breakout zone could support further upside,” said Upadhyay.
Expert: Hitesh Tailor, Technical Research Analyst at Choice Broking
Tailor pointed out that Samvardhana Motherson is exhibiting strong technical strength after finding robust support around its 100-Day EMA, where a clean bounce was initiated.
The stock formed a bullish Marubozu candlestick pattern on the daily chart following this reversal, signalling strong buying pressure and accumulation at lower levels.
This reversal zone aligns key daily support with a previous weekly breakout level, further reinforced by 20-Week EMA support on the weekly chart.
“Momentum indicators support this upward shift, with the daily RSI turning upward from oversold levels. The technical setup favours buying around ₹157, with ₹149 acting as the strict risk-control level and ₹170 as the potential upside objective. Maintain disciplined risk management,” said Tailor.
Hindustan Aeronautics (HAL) | Buy at ₹4,760 | Target price: ₹5,250 | Stop loss: ₹4,500
Tailor highlighted that HAL is displaying renewed bullish strength on its weekly chart after giving a successful breakout from a longer-term falling trendline resistance and completing a successful retest in previous weeks.
The stock has taken strong support around its key 20 Week moving average, accompanied by visible accumulation at lower levels before resuming its upward trajectory.
Furthermore, momentum indicators reinforce this positive structure, with the weekly RSI bouncing cleanly off its 50–55 midpoint support zone and trending higher, signalling sustained buying participation and scope for further price expansion.
“The overall technical setup favours buying around ₹4,760, with ₹4,500 acting as the strict risk-control level and ₹5,250 as the potential upside objective. Maintain disciplined risk management,” said Tailor.
South Indian Bank | Buy at ₹49 | Target price: ₹55 | Stop loss: ₹46
According to Tailor, South Indian Bank is displaying sustained bullish strength, continuing its steady advance in a higher-high, higher-low formation on the daily chart.
The stock remains well supported by a rising EMA structure and an ascending trendline at lower levels.
It recently formed a bullish engulfing candlestick pattern on the daily chart, initiating a clean rebound and confirming strong buying interest around support zones.
“The overall technical structure remains positive, favouring buying around ₹49, with ₹46 acting as the strict risk-control level and ₹55 as the potential upside objective. Maintain disciplined risk management,” 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.
