Stocks to buy for the short term: The stock market benchmark Nifty 50 jumped about 0.70% to levels near 24,250 in morning trade on Friday, 17 July, a day after closing flat, amid intensifying US-Iran conflict, elevated crude oil prices, and mounting inflation fears.
While geopolitical tensions remain a key overhang, healthy Q1 earnings are limiting the downside.
Ajit Mishra, SVP of Research at Religare Broking, pointed out that the Nifty is holding above its key support of 24,050, where the 20-day EMA coincides with the rising trendline.
“On an immediate basis, a break below 24,050 could drag the index towards the crucial 23,800 level. On the upside, a decisive breakout above 24,200-24,300 may pave the way for an up move towards 24,500–24,600,” said Mishra.
Mishra recommends maintaining a stock-specific approach while adhering to disciplined risk and position management.
Stock picks for the short term
Ajit Mishra recommends buying the following three stocks for the next 1-2 weeks, while keeping their respective target prices and stop losses in focus:
Bharat Heavy Electricals | LTP: ₹435.40 | Target price: ₹471 | Stop loss: ₹418
Mishra pointed out that BHEL has resumed its uptrend after a brief consolidation above its 50-day EMA following a sharp rally from April 2026.
The stock has broken out of a bullish flag pattern, indicating continuation of the prevailing uptrend.
The breakout is backed by healthy price-volume action and a bullish crossover in the weekly RSI, reflecting improving momentum.
“With the overall structure remaining positive, one may consider accumulating the stock within the recommended price range,” said Mishra.
Central Depository Services (India) | LTP: ₹1,410.50 | Target price: ₹1,515 | Stop loss: ₹1,360
As per Mishra, CDSL continues to exhibit a constructive price structure, forming a symmetrical triangle that signals a potential bullish continuation.
The price structure remains healthy, marked by a series of higher highs and higher lows, reflecting strengthening medium-term momentum.
“A decisive breakout above the pattern’s upper trendline is likely to trigger fresh buying interest and accelerate the next leg of the rally,” said Mishra.
Furthermore, supportive momentum indicators reinforce the positive near-term outlook.
“Considering the favorable technical setup, investors may consider accumulating the stock within the recommended price range” Mishra said.
Divi’s Laboratories | LTP: ₹7,273 | Target price: ₹7,800 | Stop loss: ₹7,080
The pharmaceutical and healthcare sector continues to witness sustained buying interest, with Divi’s Laboratories participating in the sector-wide strength.
The stock has registered a fresh breakout after consolidating for nearly a year and has successfully reclaimed its record high, indicating the resumption of its long-term uptrend.
The breakout is accompanied by a significant increase in trading volumes, highlighting strong buying conviction and broader participation.
“Given the favourable technical structure and continued sectoral strength, traders may consider accumulating the stock on a cash delivery basis,” said Mishra.
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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 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.
