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News for India > Business > Stocks to buy for short term: From Paytm to Indian Bank— Ajit Mishra of Religare Broking suggests 3 names | Stock Market News
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Stocks to buy for short term: From Paytm to Indian Bank— Ajit Mishra of Religare Broking suggests 3 names | Stock Market News

Last updated: July 25, 2025 6:44 am
2 weeks ago
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Stock picks for the short termOne 97 Communications (Paytm) | LTP: ₹1,106.25 | Buy | Target price: ₹1280 | Stop loss: ₹1,010Indian Bank | LTP: ₹652.15 | Buy | Target price: ₹705 | Stop loss: ₹625Jindal Steel & Power | LTP: ₹1,000.45 | Buy | Target price: ₹1,070 | Stop loss: ₹975

Stocks to buy for the short term: The Indian stock market has been volatile for over a month now due to the delayed India-US trade deal, sustained foreign capital outflow, uninspiring Q1 results, and stretched valuation of the market.

The Nifty 50 ended 0.63 per cent down at 25,062 on Thursday, July 24. The index is now down about 2 per cent for the month, looking set to snap its four-month winning streak.

Ajit Mishra, SVP of research at Religare Broking, pointed out that the Nifty has failed to cross the resistance at 25,250, reflecting a cautious sentiment among participants.

He underscored that given the mixed signals, investors should maintain a stock-specific approach and adopt a hedged strategy.

Stock picks for the short term

Mishra suggests buying shares of Paytm, Indian Bank, and Jindal Steel for the short term.

One 97 Communications (Paytm) | LTP: ₹1,106.25 | Buy | Target price: ₹1280 | Stop loss: ₹1,010

Mishra pointed out that Paytm displays a classic multi-year bottoming reversal pattern.

After a prolonged downtrend, the stock formed a broad base over several quarters, with notable volume accumulation evident near the bottom.

The breakout above the horizontal resistance zone (near ₹1,000) marks the completion of this multi-year reversal structure.

The price has now convincingly crossed the 20-week and 200-week EMAs, a significant bullish development signalling a shift in long-term sentiment.

Additionally, the breakout is accompanied by notable volume spikes, validating the move with institutional buying interest.

“The structure suggests a new long-term uptrend may be underway, with upside targets potentially extending toward ₹1,300 in the near term,” said Mishra.

Paytm technical chart

Indian Bank | LTP: ₹652.15 | Buy | Target price: ₹705 | Stop loss: ₹625

Indian Bank showcases a structurally strong technical setup. After a pronounced uptrend marked by higher highs and higher lows, the stock entered a broader consolidation phase, forming a rectangular range between ₹500 and ₹650 levels.

This sideways movement served as a healthy base-building process.

A recent breakout above the consolidation zone, coupled with sustained closes above the 20-week EMA ( ₹590), confirms a resumption of the primary uptrend.

The pivot breakout has been supported by rising volumes, indicating institutional participation.

Indian Bank technical chart

Jindal Steel & Power | LTP: ₹1,000.45 | Buy | Target price: ₹1,070 | Stop loss: ₹975

Mishra underscored that the metal space has been performing well, with most stocks participating in the up move on a rotational basis.

Jindal Steel & Power recently staged a strong rebound from the ₹850 level, followed by a breakout above the descending trendline that had capped the price for months.

This signals a possible end to the intermediate downtrend and a resumption of the primary bullish trajectory.

The breakout from the tight rectangular consolidation, along with increasing volumes, reinforces the bullish outlook.

“The price is now trading above the 20-week EMA ( ₹930), which has begun sloping upward—another confirmation of a trend reversal. The successful retest and rebound from the trendline support further strengthen this setup,” said Mishra.

Jindal Steel technical chart

Read all market-related news here

Read more stories by Nishant Kumar

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.



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TAGGED:Indian bank share pricejindal steel share pricepaytm share priceShares to buy for short termstock picks for short termStocks to buy for short term
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