Stocks to buy for the short term: The Indian stock market ended with significant gains on Monday, August 11, with the benchmarks, the Sensex and the Nifty 50, rising by almost a per cent each.
The Nifty 50 closed at 24,585, breaching a key hurdle of 24,500 on short covering amid signs of easing geopolitical tensions.
Experts believe a decisive move above 24,650 will push the index to levels above 24,850 or even beyond.
Nilesh Jain, Head Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking, highlighted that the Nifty regained its 100-DMA, which aligns with the psychological mark of 24,500, now acting as the immediate support, with the next cushion at 24,340.
“The price structure indicates scope for a further pullback towards 24,750. Although the broader trend remains weak, the short-term bias has turned mildly positive, driven by a short-covering rally,” said Jain.
Vishnu Kant Upadhyay of Master Capital Services and Amruta Shinde of Choice Broking suggest five stocks to buy for the next two to three weeks. Take a look:
Stock picks for the short term
Expert: Vishnu Kant Upadhyay, AVP – Research & Advisory, Master Capital Services
Eternal | Previous close: ₹309.40 | Target prices: ₹346 and ₹355 | Stop loss: ₹280
Eternal is trading in a strong uptrend, with prices holding firmly above the 50-day and 200-day EMAs, signalling sustained bullish momentum.
After a sharp rally, the stock has formed a brief consolidation pattern near its recent highs, indicating healthy profit booking before the next leg up.
The RSI at 67 remains in bullish territory without being overbought, suggesting further upside potential. MACD stays in positive territory, supporting the ongoing momentum.
“A breakout above the falling trendline resistance triggers a fresh rally towards ₹346 and then ₹355 levels, while strong support lies near ₹280, keeping the overall trend firmly positive,” said Upadhyay.
Hindustan Unilever (HUL) | Previous close: ₹2,518.40 | Target prices: ₹2,740 and ₹2,765 | Stop loss: ₹2,380
HUL share price is forming a rounding bottom formation, signalling a gradual transition from a prolonged downtrend to a sustainable uptrend.
The recent uptick in prices is accompanied by rising volumes, indicating strong accumulation interest from market participants.
A golden crossover—where the 50-day EMA crosses above the 200-day EMA—further reinforces the bullish sentiment, often considered a powerful long-term buy signal.
Following a healthy correctional fall from recent highs, prices have found support near the confluence zone of short- and long-term moving averages.
The subsequent rebound reflects renewed buying momentum. The RSI sustaining above the 55–60 zone hints at further upside potential without being overbought.
Moreover, the MACD remains in positive territory, adding strength to the bullish case.
Indian Bank | Previous close: ₹674 | Target prices: ₹730 and ₹750 | Stop loss: ₹640
Indian Bank has given a breakout from a bullish consolidation, confirmed by a robust bullish Marubozu candle accompanied by rising volumes, indicating strong institutional participation.
The price action remains well aligned above the 20, 50, 100, and 200 EMAs, reinforcing the prevailing uptrend.
RSI holding above 65 reflects sustained momentum, while MACD’s bullish crossover adds confirmation.
“The ongoing sequence of higher highs and higher lows, coupled with its bullish channel structure, signals firm control by buyers and potential for continued upside,” said Upadhyay.
Expert: Amruta Shinde, Research Analyst, Choice Broking
PB Fintech (Policybazaar) | Previous close: ₹1,860.60 | Target price: ₹2,070 | Stop loss: ₹1,755
PB Fintech has rebounded from a key support zone after breaking out of a falling trendline. On increased volume, a strong bullish candle formed, indicating a potential bullish reversal.
“A sustained move above the critical resistance level of ₹1,900 could open the way for an uptrend toward ₹2,070, supported by rising trading volumes that reflect strong buying interest. Downside support is placed at ₹1,800 in case of any minor pullback,” said Shinde.
The RSI stands at 59.17 and is trending upward, while the stock is comfortably trading above its 20-day, 50-day, and 200-day EMAs, further reinforcing the positive outlook.
“Traders may consider entering at ₹1,860.6 with a stop loss at ₹1,755 and a target of ₹2,070, while maintaining strict risk management to handle potential short-term volatility,” Shinde said.
General Insurance Corporation of India (GICRE) | Previous close: ₹399.50 | Target price: ₹450 | Stop loss: ₹374
GICRE has rebounded from a key support zone and broken out of a range-bound phase with the formation of a strong bullish candle.
“A sustained move above the critical resistance level of ₹410 could pave the way for an uptrend toward ₹450, supported by rising trading volumes that indicate strong buying interest. Downside support is placed at ₹390 in case of any minor pullback,” said Shinde.
The RSI stands at 61.72 and is trending upward, while the stock is comfortably trading above its 20-day, 50-day, and 200-day EMAs, further reinforcing the bullish outlook.
“Traders may consider entering at ₹399.5 with a stop loss at ₹374 and a target of ₹450, while maintaining strict risk management to navigate potential short-term volatility,” Shinde said.
Indian Bank | Previous close: ₹674 | Target price: ₹740 | Stop loss: ₹644
Indian Bank has reversed from a key support zone and broken out of a sideways range between ₹605 and ₹660 with the formation of a strong bullish candle accompanied by increased volume, signalling a bullish reversal.
“A sustained move above the critical resistance level of ₹690 could pave the way toward ₹740, supported by rising trading volumes that indicate strong buying interest. Downside support is seen at ₹660 in case of any minor pullback,” said Shinde.
The RSI stands at 66.99 and is trending upward, while the stock is comfortably trading above its 20-day, 50-day, and 200-day EMAs, further reinforcing the positive outlook.
“Traders may consider entering at ₹674.8 with a stop loss at ₹644 and a target of ₹740, while ensuring strict risk management to handle potential short-term volatility,” Shinde 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.
