Stocks to buy for the short term: The stock market benchmark Nifty 50 dropped more than half a per cent to retreat to levels below 24,050 in intraday deals on Tuesday, 14 July, due to escalating tensions in the Middle East, a jump in crude oil prices, and concerns over rising retail inflation.
The index has a key support near 24000, which is the confluence of its 21-day and 55-day EMAs.
As per experts, if the index manages to hold this crucial support, it may maintain its positive bias.
However, escalating tensions in the Middle East and Brent crude near $85 per barrel remain key headwinds as they have raised concerns over inflation and higher global interest rates.
As per Vishnu Kant Upadhyay, AVP- Research at Master Capital Services, the Nifty 50 is likely to remain range-bound in 23,800 to 24,550 with a sideways to higher tendency. Every fall can be seen as an opportunity to build fresh long positions.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor 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 Limited
Sumitomo Chemical India | Previous close: ₹531.90 | Target price: ₹595 | Stop loss: ₹484
As per Upadhyay, Sumitomo Chemical share price has confirmed a breakout from an inverted head and shoulders pattern, backed by strong volume participation, indicating fresh buying interest.
The stock is trading comfortably above its 50-day and 100-day EMAs, reinforcing the prevailing uptrend.
Momentum indicators remain supportive, with the MACD in positive territory, suggesting strength is likely to continue.
“The breakout, along with improving price structure and sustained momentum, points towards further upside to ₹595,” said Upadhyay.
Home First Finance Company India | Previous close: ₹1,261 | Target price: ₹1,380 | Stop loss: ₹1,175
Upadhyay pointed out that Home First Finance share price has confirmed a breakout above its falling trendline and a key horizontal resistance zone, signalling a potential trend reversal.
The stock has staged a strong recovery from lower levels, supported by sustained accumulation and a sharp pickup in trading volumes, reflecting renewed buying interest.
“It is also trading above its 50-day and 100-day EMAs, reinforcing the positive price structure. The breakout, backed by healthy volume participation and improving momentum, suggests the stock is well placed to extend its uptrend,” said Upadhyay.
Aptus Value Housing Finance India | Previous close: ₹289.50 | Target price: ₹315 | Stop loss: ₹274
Upadhyay highlighted that Aptus Value Housing Finance share price has formed a bullish inverted head and shoulders pattern, indicating a potential trend reversal after a prolonged correction.
The stock is trading above its 50-day and 100-day EMAs following a positive moving average crossover, reflecting strengthening price momentum.
The MACD remains in positive territory, supporting the improving technical outlook.
“Sustained buying interest and a series of higher highs and higher lows further reinforce the bullish structure. The overall setup suggests the stock is well placed for further upside, with any short-term decline likely to attract fresh buying interest,” said Upadhyay.
Expert: Hitesh Tailor, Technical Research Analyst at Choice Broking
Coforge | Previous close: ₹1,540.90 | Target price: ₹1,685 | Stop loss: ₹1,465
According to Tailor, Coforge share price continues to maintain a strong bullish structure, taking consistent support from its rising upward trendline, which reflects sustained buying interest at lower levels.
The stock has recently delivered a decisive breakout from a prolonged sideways consolidation range, signalling the resumption of its primary uptrend. It is also trading above its key moving averages, reinforcing the positive price structure and indicating that buyers remain firmly in control.
Momentum indicators remain supportive, with the RSI climbing to around 60.5, reflecting strengthening buying momentum while still leaving room for further upside.
The stock has successfully surpassed the consolidation hurdle and is sustaining above the breakout zone, indicating fresh demand and increasing the probability of a continued upward move.
“Traders may consider initiating long positions around ₹1,540, while ₹1,465 should be maintained as the key downside risk level. On the upside, the stock has the potential to advance towards ₹1,685, offering a favourable risk-reward opportunity for positional traders,” said Tailor.
Viyash Scientific | Previous close: ₹284.35 | Target price: ₹310 | Stop loss: ₹270
As per Tailor, Viyash Scientific share price has been maintaining a strong higher-high–higher-low (HH-HL) formation, reflecting sustained buying interest and a well-established bullish trend.
The stock continues to be supported by its rising EMA structure, with all key moving averages sloping upward, indicating strength across multiple timeframes.
After the recent rally, the stock successfully retested its 20-day EMA and witnessed a strong rebound, reaffirming the presence of buyers at lower levels and keeping the prevailing uptrend intact.
The Supertrend indicator remains firmly in bullish mode, further reinforcing the positive technical setup.
RSI is holding around 60.6, suggesting healthy buying momentum while leaving room for further upside.
The stock is sustaining above its recent breakout zone and continues to respect higher support levels, indicating that the bullish trend remains well-supported.
“Traders may consider accumulating the stock around ₹285, while ₹270 should be maintained as the key downside protection level. On the upside, the stock has the potential to advance towards ₹310, offering a favourable risk-reward opportunity for positional traders,” said Tailor.
Home First Finance Company India | Previous close: ₹1,261 | Target price: ₹1,380 | Stop loss: ₹1,200
Tailor pointed out that the stock has delivered a decisive breakout from a channel pattern on the daily chart, signalling a continuation of the prevailing uptrend and confirming renewed buying interest.
The stock is currently trading above all its key moving averages (20, 50, 100 and 200-day EMAs), reflecting strong trend alignment and sustained bullish momentum across multiple timeframes.
The successful breakout, backed by a healthy price structure, indicates improving strength and enhances the potential for further upside.
Momentum indicators continue to remain supportive, with the RSI at 68.15, comfortably above the midpoint, signalling robust buying momentum without showing signs of exhaustion.
The stock continues to maintain a higher high–higher low (HH-HL) formation, indicating that buyers remain firmly in control and the prevailing uptrend is intact.
“Traders may consider accumulating the stock around ₹1,261, while ₹1,200 should be maintained as the key risk management level. On the upside, the stock has the potential to advance towards ₹1,380, offering a favourable risk-reward opportunity for positional traders,” 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.
