Stocks to buy for the short term: Snapping their six-week losing streak, the Indian stock market benchmark Nifty 50 ended over a per cent higher last week, ending August 14.
The index is expected to extend the gains, buoyed by favourable global signals. US President Donald Trump has indicated he may rethink secondary tariffs on India. There are also expectations that the Russia-Ukraine war could be near its end.
According to Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, sustained upside momentum will require a decisive move above 24,700, which could set the stage for a relief rally towards the 24,800–25,000 zone.
Conversely, a decline below 24,350 could lead to a retest of the 24,200–23,800 area, where both the 200-day EMA and SMA converge.
“This confluence of supports, along with emerging positive RSI divergence on intraday charts and the RSI nearing its daily support zone, suggests the possibility of the correction’s final phase. Until confirmation of a breakout, traders are advised to maintain a light position and refrain from aggressive commitments,” said Patel.
Stock picks for the short-term
Jigar Patel recommends buying shares of HAL, UBL, and United Spirits for the next two to three weeks.
Hindustan Aeronautics (HAL) | Previous close: ₹4,555.10 | Target price: ₹5,000 | Stop loss: ₹4,300
HAL is showing promising technical signals, with a bullish divergence forming on the daily RSI near the 38.2 per cent Fibonacci retracement level.
This critical zone also aligns with the S3 Camarilla monthly pivot and the 200-day exponential moving average (DEMA), enhancing its significance as a strong support area.
The confluence of these technical factors indicates potential for an upward reversal.
“Traders are advised to initiate long positions in the ₹4,575– ₹4,500 range, aiming for a target of ₹5,000. To safeguard against downside risk, a stop loss should be maintained below ₹4,300 on a daily closing basis. The current technical setup suggests that HAL could witness renewed buying interest if it sustains above this support cluster,” said Patel.
United Breweries (UBL) | Previous close: ₹1,925.20 | Target price: ₹2,120 | Stop loss: ₹1,815
UBL has witnessed a steep 17 per cent decline from its April 2025 peak, currently trading just above ₹1,900.
The fall, however, has been marked by unusual volume patterns. On 28 July 2025, a large bearish candle formed on very low volumes, while on 29 July 2025, higher volumes accompanied a small candle body, hinting at indecision.
The 30 July 2025 session saw another big red candle but with comparatively lower volumes, indicating a lack of aggressive selling. Since then, UBL’s price action has shown consistent wick formations in the ₹1,890– ₹1,920 range, suggesting possible exhaustion of selling pressure.
This zone also coincides with the S3 Camarilla monthly pivot and the 400-day EMA, reinforcing it as a key support area.
“Technically, this sets up a potential buying opportunity between ₹1,930 and ₹1,900, targeting ₹2,120, with a recommended stop-loss at ₹1,815 on a daily closing basis,” said Patel.
United Spirits | Previous close: ₹1,319.30 | Target price: ₹1,455 | Stop loss: ₹1,230
United Spirits has undergone a sharp 21 per cent correction from its recent peak and is currently trading just above the ₹1,300 mark.
Despite sustained selling pressure since early July 2025, the decline was not accompanied by significant volumes — a notable technical observation.
The most striking anomaly occurred on 25 July 2025, when a large bearish candle formed on very low volumes, hinting at a potential exhaustion of selling momentum.
Since then, United Spirits stock has consistently held the ₹1,280– ₹1,300 support zone, which coincides with a key historical demand area and the S1 quarterly floor pivot.
Furthermore, the daily RSI has exhibited bullish divergence, indicating the possibility of an impending reversal.
“Given these technical factors, a buying opportunity emerges in the ₹1,320– ₹1,300 range, with an upside target of ₹1,455. Traders should maintain a stop-loss at ₹1,230 on a daily closing basis to manage risk effectively,” said Patel.
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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.
