Stocks to buy for the short term: Market benchmarks ended with modest gains in the previous session after the announcement of massive GST reforms, which are expected to reinvigorate domestic consumption and further accelerate economic growth.
However, concerns over Trump’s tariffs and foreign capital outflow continue weighing on sentiment, triggering profit booking after a market rally.
With GST reforms and an improving macroeconomic outlook, the Indian stock market’s undertone is turning positive, and experts believe it is time to buy stocks on dips.
Ajit Mishra, SVP of research at Religare Broking, pointed out that the GST 2.0 reforms strengthen the case for a consumption-led recovery. Auto and consumer staples are expected to benefit the most. Select metals and infrastructure, linked to rural stimulus, also remain in focus.
That said, the broader outlook stays vulnerable to global macro uncertainties, continued FII outflows, and persistent US tariff headwinds, he said.
In the near term, Mishra expects consolidation in the benchmark index. He recommends maintaining selective exposure to structurally strong themes while keeping a close eye on the risk–reward equation.
Mishra suggests buying the following three stocks for the next one to two weeks as he sees a favourable technical setup for them.
Stock picks for the short term
Glenmark Pharmaceuticals | Last traded price (LTP): ₹1,990.90 | Buy | Target price: ₹2,150| Stop loss: ₹1,930
The pharma space has been witnessing a mixed trend, yet Glenmark Pharma has clearly outperformed most of its peers in recent months.
Following a sharp March–July rally, the stock entered a healthy consolidation phase, finding strong demand near the 38.2% Fibonacci retracement zone and simultaneously filling the prior gap on the daily chart.
Importantly, it continues to trade above its long-term breakout zone, which marked the end of a multi-month downtrend, thereby preserving its broader bullish structure.
The stock has reclaimed both the 20- and 50-DMA, which are sloping upward and positioned above the rising 200-DMA, signalling trend alignment across timeframes.
The appearance of a bullish daily candle on improving volumes, coupled with RSI turning higher from the mid-50 zone, suggests that the consolidation is maturing and a resumption of the uptrend could be on the horizon.
“Participants may look to initiate fresh longs as per the defined levels,” said Mishra.
Havells India | LTP: ₹1,584.70 | Buy | Target price: ₹1,730| Stop loss: ₹1,510
After enduring an extended corrective phase, Havells is showing compelling signs of revival.
The stock has built a firm base by retesting the neckline of its earlier consolidation breakout, thereby validating that level as strong support.
In April 2025, it pierced the downward trendline, followed by a prolonged base-building phase. More recently, it reclaimed the 200-day EMA, strengthening the bullish narrative.
With its long-term averages beginning to flatten and short-term price action showing higher lows, the stage is set for a potential uptrend resumption.
“These technical signals indicate that Havells is well-positioned for a steady upward trajectory, making it a timely candidate for accumulation or fresh longs, provided positions are managed with disciplined risk controls,” said Mishra.
IDFC First Bank | LTP: ₹72.23 | Buy | Target price: ₹79 | Stop loss: ₹69
IDFC First Bank has staged an impressive recovery, breaking out of a double-bottom formation on the intraday chart. A spike in volumes well-supported the move.
On the broader daily timeframe, the stock arrested its decline precisely at the confluence of the 200-day EMA and the 38.2% Fibonacci retracement of the prior rally, thereby reinforcing that zone as a strong base.
The subsequent breakout above the ₹72 resistance has opened the door for further upside, with the potential to revisit its previous swing high.
The trend structure remains favourable, as the price is trading comfortably above all key moving averages. Both the 20-DMA and 50-DMA continue to trend above the rising 200-DMA.
“As long as the stock sustains above ₹69, the bias stays firmly positive, with near-term targets placed at ₹75 and ₹79,” Mishra 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.
