Stock to buy for the short term: The Indian stock market ended with healthy gains on Monday, February 16, on short-covering after the recent selloff.
The Sensex rose by 650 points, or 0.79%, to close at 83,277.15, while the Nifty 50 ended at 25,682.75, clocking a healthy gain of 212 points, or 0.83%.
Experts believe the domestic market may see some volatility in the near future due to geopolitical factors and a lack of fresh triggers back home.
Foreign institutional investors (FIIs) have turned net sellers in the cash segment this month, too. So far in February, FIIs have sold Indian stocks worth ₹2,345 crore in the cash segment. They have been selling Indian stocks in the cash segment since July last year.
Experts say this is time to focus on quality stocks with sound technical indicators.
Vishnu Kant Upadhyay of Master Capital Services and Aakash Shah, Research Analyst, Choice Broking, recommend the following six stocks to buy for the next 1-2 weeks:
Stock picks for the short term
Expert: Vishnu Kant Upadhyay, AVP Research Advisory, Master Capital Services
Power Grid Corporation of India | Previous close: ₹300.50 | Target price: ₹325 and ₹340 | Stop loss: ₹280
Upadhyay underscored that Power Grid Corporation’s share prices are developing a short-term bullish structure after decisively breaching its downward sloping trendline on the daily timeframe.
Price action is stabilising with a shift towards higher lows, indicating improving trend dynamics.
The stock is currently trading above the cluster of all key EMAs, suggesting strengthening alignment.
RSI is trending upward, MACD has turned positive, and ADX is rising, signalling building directional momentum.
“The technical setup supports a near-term bullish bias with potential upsurge towards ₹340,” said Upadhyay.
Bank of Baroda (BoB) | Previous close: ₹292.55 | Target prices: ₹310 and ₹320 | Stop loss: ₹279
As per Upadhyay, BoB continues to maintain a constructive short-term bullish structure on the daily chart, with price action sustaining above key support levels.
The stock is trading firmly above its 20, 50 and 200-day EMAs, reflecting strong positive alignment across timeframes.
The formation of higher highs and higher lows reinforces underlying trend strength. RSI remains in the bullish zone, MACD is holding positive territory, and ADX indicates strengthening directional momentum.
“The technical structure remains constructive for further upside in the near term,” Upadhyay said.
Crompton Greaves Consumer Electricals | Previous close: ₹272.66 | Target price: ₹305 | Stop loss: ₹247
Upadhyay said that Crompton Greaves’ share price has confirmed a short-term bullish reversal with a decisive breakout above the neckline of an inverse head and shoulders pattern on the daily chart.
Price action is forming higher lows post-breakout, indicating an improving demand structure.
The stock is reclaiming its 20 and 50-day EMAs, with scope to challenge the 200-day EMA, suggesting gradual bullish realignment.
RSI is trending higher, MACD shows a positive crossover, and ADX is strengthening, signalling rising momentum.
“The breakout suggests continuation of upward traction in the near term,” said Upadhyay.
Expert: Aakash Shah, Research Analyst, Choice Broking
Cummins India | Previous close: ₹4,524.80 | Target price: ₹4,900 | Stop loss: ₹4,343
Shah highlighted that Cummins India is maintaining a strong bullish structure on the daily chart after a healthy pullback and rebound from the recent swing low near ₹3,883.
Price has decisively reclaimed the 20 EMA and 50 EMA, with both averages curling upward and positioned above the 100 and 200 EMA, signalling trend continuation.
The current price action is forming higher lows with steady volume participation, indicating sustained buying interest.
Fibonacci extension from the recent swing high shows price holding above the 0.236 zone and moving toward the 0.5 level.
“As long as price sustains above ₹4,343, momentum remains intact and supports a move toward the ₹4,900 target zone,” said Shah.
Union Bank of India | Previous close: ₹183.09 | Target price: ₹195 | Stop loss: ₹176
According to Shah, Union Bank of India is showing a strong continuation setup on the daily timeframe after a sharp impulsive rally from the ₹165 region, followed by a shallow consolidation near the 52-week highs.
The stock price is consistently trading above the 20 EMA and 50 EMA, both of which are sloping upward, reflecting strengthening bullish momentum.
The stock has respected the 0.382 Fibonacci extension and is now attempting to expand higher toward the 0.786 extension level around 195.
Volume behaviour shows expansion during up moves and contraction during pullbacks, indicating accumulation.
“Holding above the key support at ₹176 keeps the structure bullish and supports the upside projection toward ₹195,” said Shah.
Kross | Previous close: ₹221.73 | Target price: ₹238 | Stop loss: ₹212
Shah highlighted that Kross is displaying a bullish trend resumption on the daily chart after forming a higher low near the ₹185 level and breaking above the ₹212 short-term consolidation.
The stock price is trading firmly above the 20 and 50 EMA, and has reclaimed the 100 and 200 EMA, suggesting a transition into a sustained uptrend.
The recent breakout is supported by strong bullish candles and improving volume spikes on upward moves, highlighting fresh buying interest.
Structure-wise, the series of higher highs and higher lows confirms strength.
“As long as price holds above the ₹212 support zone, the trend bias remains positive and favours continuation toward the ₹238 resistance target,” said Shah.
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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.
