Stocks to buy for the short term: The Indian stock market remains in a consolidation phase amid persistent geopolitical risks, elevated oil prices, and concerns about their impact on domestic macro.
On Tuesday morning, the Nifty 50 declined about 0.30% to hit an intraday low of 24,211, falling for the sixth consecutive session.
The index is currently trading below its 21-day EMA, indicating near-term weakness; however, the broader structure remains constructive as the 55 and 100-day EMAs continue to provide support.
“Going ahead, 24,200-24,150 remains a crucial support zone, while 24,400-24,500 is likely to act as the immediate resistance area,” said Vishnu Kant Upadhyay of Master Capital Services.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Broking recommend the following six stocks to buy for the next 1-2 weeks.
Expert: Vishnu Kant Upadhyay, AVP- Research at Master Capital Services
Grasim Industries | Previous close: ₹3,250.50 | Target prices: ₹3,410 and ₹3,460 | Stop loss: ₹3,120
According to Upadhyay, Grasim Industries shares maintain a constructive short-term technical setup after decisively breaking out of its rising bullish channel on strong volumes.
The stock has bounced back after retracing towards the upper end of the channel, which coincides with the 21 EMA, indicating strong buying interest at key support.
Price action continues to exhibit a clear sequence of higher highs and higher lows, while the stock remains comfortably above all key moving averages.
Momentum remains favourable, with RSI at 54, leaving room for further upside.
The MACD remains supportive, reinforcing the probability of continued bullish momentum in the near term.
Poonawalla Fincorp | Previous close: ₹497.45 | Target prices: ₹545 and ₹560 | Stop loss: ₹464
Upadhyay said Poonawalla Fincorp’s share price has strengthened its short-term technical structure following a decisive multi-month breakout above the key resistance level of ₹490, with above-average volumes.
The subsequent mild retracement appears healthy, suggesting limited profit-taking rather than any deterioration in the underlying trend.
Price action continues to form a well-defined sequence of higher highs and higher lows, reinforcing the prevailing uptrend.
The stock remains comfortably positioned above all key moving averages, highlighting sustained buying momentum and a positive trend structure.
“As long as the breakout zone is sustained, the short-term technical outlook remains firmly bullish,” said Upadhyay.
GlaxoSmithKline Pharmaceuticals | Previous close: ₹2,702.90 | Target prices: ₹2,900 and ₹2,950 | Stop loss: ₹2,540
Upadhyay highlighted that GlaxoSmithKline Pharmaceuticals has witnessed a decisive medium-term trend reversal after breaking above the long-standing declining trend line around ₹2,580.
The stock subsequently retested the breakout zone and bounced back sharply, reaffirming the breakout and sustaining its broader uptrend.
The 21 EMA has crossed above the 200 EMA, further strengthening the bullish trend structure.
Price remains firmly positioned above all key moving averages, while the formation of higher highs and higher lows reflects sustained buying interest.
“The overall technical setup remains positive, indicating scope for further upside in the short term,” said Upadhyay.
Expert: Hitesh Tailor, Technical Research Analyst at Choice Broking
Quess Corp | Previous close: ₹343.90 | Target price: ₹380 | Stop loss: ₹325
Tailor said Quess Corp is maintaining a sustained bullish trend after accumulating at lower levels and staging a healthy rebound.
The 20-Day EMA is acting as dynamic support, and the price is moving higher from this level.
Sustaining above all key EMAs further strengthens the prevailing trend structure, while RSI remains above the midpoint, indicating positive momentum.
“The setup remains favourable for fresh buying near ₹344, with ₹325 as the key risk-control level and ₹380 as the potential upside objective. Strict risk management should be maintained,” said Tailor.
Balrampur Chini Mills | Previous close: ₹655.75 | Target price: ₹720 | Stop loss: ₹625
Tailor said Balrampur Chini Mills is showing strong bullish momentum, with price action sustaining above all key EMAs and maintaining a healthy upward structure.
The recent breakout above the ₹640–645 resistance zone, followed by a strong rebound, indicates renewed buying interest and continuation of the uptrend.
RSI at 61.22 remains above the midpoint, supporting positive momentum without entering an extreme zone.
“The setup favours fresh accumulation around ₹655, while ₹625 acts as the key risk-control level and ₹720 as the potential upside objective. Follow disciplined risk management,” said Tailor.
Kalpataru Projects International | Previous close: ₹1,404.20 | Target price: ₹1,550 | Stop loss: ₹1,330
Tailor highlighted that Kalpataru Projects International is showing a constructive technical setup, with the stock maintaining a positive price structure and sustained buying interest.
The broader trend remains supportive, indicating potential for further upside if the stock sustains above its immediate breakout zone.
The overall technical setup favours continuation towards higher levels.
“Fresh buying can be considered around ₹1,404, with ₹1,330 as the key risk-control level and ₹1,550 as the potential upside objective. Maintain disciplined position sizing and strict risk management,” said Tailor.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. 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.
