Stocks to buy for the short term: Indian stock market benchmarks extended gains to the sixth consecutive session on August 21, ending at 25,083.75, with a modest gain of 0.13 per cent.
The market has been in the green, helped by notable tailwinds such as proposed GST reforms and an S&P upgrade. However, Trump’s tariffs and the market’s stretched valuation remain key risks.
On Friday, US Federal Reserve Chair Jerome Powell will speak at the Jackson Hole symposium. Powell’s commentary will be a key event for markets globally as he is expected to signal a potential rate cut in September.
Ajit Mishra, SVP of research at Religare Broking, pointed out that investors are closely tracking developments around recent discussions and approvals on GST reforms, which are prompting sector-specific reactions.
He said the Jackson Hole symposium could influence sentiment. The IT space, in particular, may witness further rebound once clarity emerges on the global policy outlook.
“We maintain a positive view on the market but advise traders to focus on selective opportunities arising from rotational buying across sectors. At the same time, it is prudent to avoid aggressive positioning in the broader indices and adopt a stock-specific approach in the near term,” said Mishra.
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
Cipla | Last traded price (LTP): ₹1,592.80 | Buy | Target price: ₹1,720 | Stop loss: ₹1,530
Cipla shows a prolonged sideways consolidation after a prior advance, bounded roughly by ₹1,470–1,560, with the 100-DEMA rising underneath and flattening the risk profile.
The latest weekly candle is a range expansion bar pushing through the upper boundary, suggesting a fresh attempt to resume the higher-timeframe trend.
“If the breakout holds, immediate supply is likely near the previous swing cluster around ₹1,610–1,640, followed by the measured objective from the base (nearly 150 points) projects ₹1,730 in extension,” said Mishra.
“For risk control, the breakout area at ₹1,550–1,580 is the first support; a weekly close back below ₹1,520 would negate momentum and put the lower band ( ₹1,450) back in play,” Mishra said.
The Indian Hotels Company | LTP: ₹795.65 | Buy | Target price: ₹865 | Stop loss: ₹760
We are seeing noticeable traction in the hospitality-related stocks, and the Indian Hotel is trading in sync with the move.
Following a sustained upleg, it has been coiling in a contracting range (symmetrical triangle style) with a sequence of lower highs and higher lows—classic trend-continuation behaviour.
The stock is pressing the upper trendline; a decisive weekly close above this belt, ideally on expanding volume, would confirm breakout and re-ignite the uptrend.
“Using the triangle’s approximate height, a confirmed break implies a pattern objective toward ₹900. On setbacks, initial demand is visible near ₹760–770 (recent swing shelf), and that should be considered as a stop loss for the breakout to play out,” Mishra said.
Aditya Birla Capital | LTP:291.30 | Buy | Target price: ₹318 | Stop loss: ₹278
Aditya Birla Capital is maintaining a strong primary uptrend, with the steadily rising 100-DEMA providing robust dynamic support well below current levels—highlighting a healthy price-distance from the moving average.
After consolidating for several weeks within a tight rectangle pattern between ₹250 and ₹290, the stock has delivered a decisive breakout above the range high, accompanied by noticeable volume expansion—indicating renewed accumulation.
“The immediate hurdle lies near the psychological 300 mark, and a sustained move above this level opens the door for a measured upside target around ₹330, based on the consolidation height,” said Mishra.
“On any pullback, the breakout zone of ₹288–292 is expected to serve as initial support, while a deeper cushion is placed around ₹275–278. Participants can consider fresh longs as per the mentioned levels,” Mishra said.
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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.
