Stocks to buy for short term: Market benchmarks- the Sensex and the Nifty 50- traded volatily in morning deals on Tuesday, 26 May, as investors remained cautious amid the recent developments in the Middle East and a jump in oil prices.
Oil prices jumped after US forces conducted strikes in southern Iran against targets, according to media reports. Brent Crude traded above the $98 per barrel after falling below $96 per barrel in the previous session.
The Nifty 50 hit an intraday high and low of 24,077 and 23,966, respectively, during the session.
Experts believe that if the Nifty 50 breaks below 23800, the consolidation phase may resume.
“We expect the Nifty index to extend the ongoing upward move toward 24,200 spot levels. A final peace deal between Iran and the US will further strengthen the market sentiment, potentially leading the Nifty index toward a sustainable rally up to the 24,500–24,600 spot levels. Conversely, a break below the 23,800 spot level might push it back into a consolidation phase,” said Vipin Kumar, AVP- Equity Research and PMS at Globe Capital Market.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Sachin Gupta of Choice Broking recommend the following five stocks to buy for the next 1-2 weeks.
Expert: Vishnu Kant Upadhyay, AVP- Research at Master Capital Services
NMDC | Previous close: ₹90.19 | Target prices: ₹98 and ₹101 | Stop loss: ₹84
According to Upadhyay, NMDC continues to display a positive technical structure after sustaining above its breakout zone near ₹86.
The stock remains in a broader uptrend, consistently forming higher highs and higher lows while trading above all its key moving averages.
Recent price action indicates healthy consolidation after the sharp rally toward ₹94, with support emerging near the 21 EMA.
Volume activity has remained stable during the pullback, suggesting no aggressive profit-taking.
“The overall setup remains favourable, with momentum indicators holding firm and the ongoing consolidation likely acting as a base for the next upward move,” said Upadhyay.
Piramal Pharma | Previous close: ₹179.46 | Target prices: ₹197 and ₹202 | Stop loss: ₹166
As per Upadhyay, Piramal Pharma is maintaining a technically strong setup after breaking out from a declining trend line, signalling a potential trend reversal.
Prior to this, the stock had already confirmed an inverse head and shoulders breakout above ₹170 with a sharp expansion in volumes, highlighting strong accumulation.
Following the breakout, the stock witnessed a healthy pullback toward the breakout area, where buying interest emerged again near the trend line.
Importantly, the retracement was accompanied by muted volumes, indicating a lack of aggressive selling pressure.
The stock has also reclaimed all major moving averages, reinforcing the positive technical outlook.
Bank of India | Previous close: ₹146.01 | Target prices: ₹158 and ₹162 | Stop loss: ₹135
Upadhyay said Bank of India stock is witnessing improving technical momentum after decisively negating the earlier head and shoulders bearish structure through a sustained consolidation above the horizontal support of ₹136.
The stock has now given a breakout from this consolidation range while also reclaiming all its key moving averages, indicating strengthening trend dynamics across timeframes.
Recent price action suggests the formation of a higher high structure, reflecting renewed bullish momentum after the corrective phase.
Volume participation has also improved during the breakout move, adding credibility to the reversal.
“The overall chart setup remains constructive, signalling the possibility of further upside in the near term,” said Upadhyay.
Expert: Sachin Gupta, VP – Technical Research at Choice Equity Broking
Bank of India | Previous close: ₹146.01 | Target prices: ₹160 and ₹165 | Stop loss: ₹139
Gupta highlighted that Bank of India is showing fresh bullish strength after breaking out of its recent ₹138– ₹142 range and moving near ₹146 with strong buying support.
A key positive sign is that the stock has crossed above the 20-day, 50-day, and 200-day moving averages clustered around ₹140, indicating improving momentum.
The ₹135– ₹138 zone is now acting as a strong support area, while RSI near 62 suggests the rally is healthy and not overbought yet.
“Going forward, ₹147 remains the crucial resistance level. If the stock sustains above it, the next upside target could be around ₹160– ₹165. On the downside, holding above ₹140 keeps the positive trend intact,” said Gupta.
Thyrocare Technologies | Previous close: ₹493.15 | Target price: ₹550 | Stop loss: ₹465
Gupta pointed out that Thyrocare Technologies is maintaining a strong uptrend and trading near ₹493 with steady buying momentum.
The stock remains well above its 50-day and 200-day moving averages, showing that the overall trend is still positive.
Recently, it crossed the important ₹485 resistance level with strong volume, improving the chances of a rally toward its 52-week high near ₹536.
Momentum indicators also remain healthy and not overbought yet, which keeps the bullish outlook intact.
“The ₹450– ₹465 zone is now acting as a strong support area for short-term dips. If the strength continues, the stock may move toward the ₹550+ range in the near term,” said Gupta.
Paras Defence and Space Technologies | Previous close: ₹855.75 | Target price: ₹940 | Stop loss: ₹800
Gupta said Paras Defence is showing strong bullish momentum after a sharp recovery from the ₹730– ₹745 support zone.
The stock has bounced back quickly and is now trading near ₹855, indicating fresh buying interest at lower levels.
A key positive sign is that the stock has moved back above its short-term moving averages, which suggests the recent weakness has faded and momentum is turning positive again.
“The next important hurdle is placed around ₹870– ₹880. If the stock manages to break and hold above this range, it could move toward its 52-week high near ₹942,” said Gupta.
“On the downside, ₹800– ₹810 is now expected to act as a strong support area. As long as the stock stays above this zone, the overall trend remains bullish,” Gupta said.
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Disclaimer: This story 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.
