Stocks to buy for the short term: The Indian stock market benchmark, Nifty 50, dropped by about half a per cent for the week ended December 12, extending losses to a second consecutive week on the rupee’s weakness, continuous foreign capital outflow, and persisting uncertainty over an India-US trade deal.
On the macro front, however, India remains a bright spot. India’s retail inflation inched up to 0.71% in November. The Asian Development Bank (ADB) raised India’s growth forecast for FY26 to 7.2%, up from the 6.5% projected in September.
On the technical front, Nifty is above 26,000 after testing the crucial support of 25,700 last week.
Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, noted that the Nifty reached the support level of 25,700—aligned with the rising trendline—and rebounded sharply, preserving the broader consolidation structure. This phase continues to resemble the formation of a handle in a long-term cup-and-handle pattern.
According to Patel, immediate resistance is seen near 26,100, marked by a declining trendline.
“A decisive move above this zone is necessary to revive momentum. Beyond that, 26,300–26,350 remains the critical breakout area, above which the index could extend toward 26,600 in the near term. The broader outlook remains constructive, with medium-term objectives of 28,000–30,000+ still valid into mid-2026,” said Patel.
“Broader indices like mid-cap and small-cap segments have formed hammer-type reversal candles, indicating renewed buying interest. As long as the Nifty 50 sustains above 25,600–25,700 on a weekly closing basis, the primary uptrend remains intact,” Patel said.
Stock picks for the short term
Jigar Patel recommends buying the following three stocks for the next one to two weeks:
Eternal | Buying range: ₹300– ₹295 | Target price: ₹330 | Stop loss: ₹280
Patel highlighted that Eternal is witnessing strong support in the ₹295– ₹300 zone, backed by multiple technical confluences.
This area aligns with the VWAP middle band, 200 DEMA, 50% Fibonacci retracement of the previous up-move, and the unfilled gap from July 2025.
Additionally, this zone previously acted as a point of resistance and has now become a solid support, thereby enhancing its reliability.
Momentum indicators are also supportive. The MACD histogram has formed a bullish divergence, signalling waning downside pressure, while the RSI has surpassed its previous swing high, confirming improving strength and positive momentum.
“Considering the strong support base and improving indicators, a buy is recommended in the ₹300– ₹295 range, targeting ₹330. A stop loss should be placed at ₹280 on a daily closing basis,” said Patel.
Swiggy | Buying range: ₹418– ₹410 | Target price: ₹460 | Stop loss: ₹380
As per Patel, Swiggy is showing a strong base in the ₹380– ₹390 zone, supported by multiple technical factors.
This area coincides with the VWAP middle band, 20 DEMA, the 50% Fibonacci retracement of the prior up-move, and a confirmed trendline breakout, making it a crucial demand zone.
Momentum indicators are turning positive. The MACD histogram has developed a bullish divergence, indicating easing selling pressure, while the RSI has moved above its earlier swing high, reflecting improving strength and a pickup in momentum.
“Given the solid support structure and favourable indicator setup, a buying opportunity is seen in the ₹418– ₹410 range. The stock has the potential to move toward the target of ₹460 in the near term. A stop loss should be maintained at ₹380 on a daily closing basis to manage downside risk,” said Patel.
The Ramco Cements | Buying range: ₹1,060– ₹1,040 | Target price: ₹1,150 | Stop loss: ₹1,000
According to Patel, Ramco Cements has confirmed a bullish breakout above a falling trendline and a triangular pattern, signalling a shift in trend.
Prior to the breakout, the stock underwent a healthy consolidation along a key trendline that also coincides with the 200-day DEMA and 200-day SMA, highlighting strong structural support and limiting downside risk.
Momentum indicators further strengthen the bullish case. On the daily timeframe, the MACD has delivered a positive crossover, indicating improving momentum and increasing buying interest.
Considering the favourable price structure and supportive indicators, a positive outlook is maintained.
“Long positions can be accumulated in the ₹1,060– ₹1,040 range, with an upside target of ₹1,150. To manage risk effectively, a stop loss should be placed at ₹1,000 on a daily closing basis,” said Patel.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert, 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.
