Stocks to buy for short term: After rising for six consecutive sessions, the Indian stock market barometer Nifty 50 slipped by 0.40 per cent in morning trade on Tuesday, November 18, on profit booking. The index reclaimed the 26,000 mark in the previous session, but weak global cues weighed on sentiment.
Among Asian peers, Japan’s Nikkei and Korea’s Kospi crashed 3 per cent after an almost 1 per cent drop in the S&P 500 and Nasdaq overnight as investors await key US economic data delayed by the government shutdown. Moreover, diminishing expectations of a US Federal Reserve rate cut next month also triggered a sell-off in global markets.
Experts believe the Indian stock market may remain volatile in the short term due to global factors, even as domestic fundamentals point to the possibility of a healthy upside in the medium term.
On the technical front, experts believe the market is struggling to gain directional momentum due to a confluence of headwinds and tailwinds.
Anand James, Chief Market Strategist, Geojit Investments, with both 26,130 and 25,840 intact, a struggle to gain directional momentum is visible.
“We expect slippages to 25,980 or 25,900, followed by upswing attempts. Alternatively, a direct rise above 26,022 could call for 26,130,” said James.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Equity Broking recommend six stocks to buy for the next 1-2 weeks. Take a look:
Expert: Vishnu Kant Upadhyay, AVP- Research and Advisory, Master Capital Services
Sun Pharma | Target prices: ₹1,860 and ₹1,890 | Stop loss: ₹1,675
Upadhyay highlighted that Sun Pharma’s share price has shown a strong bullish resurgence as the stock successfully breaks out above its falling trendline resistance on the weekly timeframe, signalling the end of its medium-term consolidation phase.
The breakout comes with a noticeable expansion in volumes, reinforcing the strength of buying interest and validating the breakout’s reliability.
This volume-supported move indicates renewed market confidence and the likelihood of continuation toward higher levels.
“A bullish crossover between the 21-week and 50-week EMAs has taken shape, which typically suggests the beginning of a fresh upward trend after a period of price digestion,” said Upadhyay.
Tata Communications | Target prices: ₹2,020 and ₹2,100 | Stop loss: ₹2,045
According to Upadhyay, Tata Communications has delivered a clean breakout above its key horizontal resistance and successfully retested it, reaffirming structural strength.
The stock is trading firmly above all major EMAs, reflecting renewed trend maturity. Momentum indicators show improving traction, with RSI holding in bullish territory and MACD sustaining a positive slope.
ADX also signals strengthening directional bias. The breakout-retest formation, supported by a constructive price structure, positions the stock favourably for continued upside participation.
Mahindra Lifespace Developers | Target prices: ₹430 and ₹440 | Stop loss: ₹379
Upadhyay said the Mahindra Lifespace Developers share price has registered a decisive breakout from its recent consolidation base, indicating a shift toward trend continuation.
The stock is firmly positioned above all key EMAs, underscoring strengthening price leadership.
Structure-wise, it maintains a constructive higher low sequence, aligning with a broader bullish undertone.
Momentum dynamics have improved, with RSI showing sustained traction and MACD maintaining a positive direction.
The post-breakout follow-through reinforces buyer control and supports the prospect of further upside momentum.
Expert: Hitesh Tailor, Research Analyst, Choice Broking
Marico | Target price: ₹830 | Stop loss: ₹715
Tailor pointed out that Marico has recently given a strong breakout from a sideways range on the weekly chart, accompanied by a sharp upside move.
The stock is trading above key 20, 50, and 200 EMAs, reflecting a well-established bullish trend.
On the daily chart, Marico has also witnessed the highest volume breakout in the past 30 days, indicating strong buying interest and momentum. RSI around 66.75 shows rising momentum.
“The stock is taking firm support near ₹720, aligned with the 20-day EMA on the weekly timeframe, suggesting healthy accumulation at lower levels. If the stock sustains above current levels, it may extend its upward move towards ₹830,” said Tailor.
Hero MotoCorp | Target price: ₹6,300 | Stop loss: ₹5,500
Tailor pointed out that Hero MotoCorp is maintaining a strong higher-high, higher-low structure, reflecting sustained bullish momentum.
The stock has witnessed a sharp rebound from its recent low and has closed a solid candle above the previous swing high, indicating the continuation of upward strength.
On the downside, the 20-day EMA near ₹5,500 acts as a strong support zone, and a breach below this level may trigger further profit booking.
“On the upside, the stock has already broken its key resistance zone, and sustained trade above ₹5,800 could open the door for further upside towards ₹6,300,” said Tailor.
The stock is trading above key 20, 50, and 200 EMAs, while RSI has broken out from lower levels, signalling trend continuation.
HUDCO | Target price: ₹265 | Stop loss: ₹225
HUDCO is forming a symmetrical triangle pattern on the daily chart, indicating a phase of consolidation before a potential breakout.
The stock has taken strong trendline support within the pattern, aligned with the 200-day EMA around ₹225, reinforcing a bullish structure.
“On the upside, immediate trendline resistance is placed near ₹240, and a decisive break and sustain above this level may trigger further upside towards ₹265. On the downside, a breach of ₹225 could lead to an extended decline,” said Tailor.
HUDCO share price is trading above key 20, 50, and 200 EMAs, highlighting a positive trend. RSI at 63.01 has bounced from lower levels, suggesting continuation of momentum.
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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.
