Stocks to buy for the short term: Frontline equity indices, the Sensex and the Nifty 50, extended their winning streak for the fourth consecutive session on Monday, as lower oil prices, buying by foreign portfolio investors, and the revival of monsoon underpinned sentiment.
The index traded with a positive bias throughout the day but witnessed resistance near the 200-day EMA around 24,460.
Vishnu Kant Upadhyay, AVP- Research at Master Capital Services, said the undertone remains bullish as the index continues to sustain above the 24,200 breakout level.
Upadhyay added that the 21-day EMA has crossed above the 55-day EMA, indicating strengthening short-term momentum, while RSI has improved to 65.
“Going ahead, 24,600 and 24,800 remain key resistance levels, whereas 24,200 and 24,000 are expected to provide strong support on declines,” said Upadhyay.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Aakash Shah 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
Tata Steel | Previous close: ₹190.87 | Target prices: ₹204 and ₹210 | Stop loss: ₹181
Upadhyay pointed out that the Tata Steel share price appears to be stabilising after finding strong buying interest near the crucial ₹185 support, following an extended corrective phase.
The sharp rebound from this level has helped the stock reclaim its 200-day EMA, signalling improving medium-term sentiment.
RSI has recovered to 38 from oversold territory, indicating momentum is gradually strengthening.
“The broader price structure continues to remain favourable, with the long-term chart maintaining a sequence of higher highs and higher lows. Holding above the ₹185 support zone could strengthen the recovery and improve the prospects for further upside,” said Upadhyay.
Emcure Pharmaceuticals | Previous close: ₹1,835 | Target prices: ₹1,950 and ₹2,000 | Stop loss: ₹1,740
Upadhyay said Emcure Pharma share price continues to exhibit a strong bullish structure after breaking above ₹1,800 resistance.
Following the breakout, the stock witnessed a healthy pullback towards the breakout level, which also coincides with the rising 21-day EMA, before attracting fresh buying interest.
This successful retest reinforces the strength of the prevailing uptrend.
The stock remains comfortably above all its key moving averages, while the higher high, higher low price structure reflects sustained buying momentum.
RSI has cooled to 58, indicating a healthy consolidation and leaving ample room for the next leg of the uptrend.
Expert: Aakash Shah, Technical Analyst at Choice Broking
Karur Vysya Bank | Previous close: ₹304.15 | Target price: ₹330 | Stop loss: ₹292
According to Shah, Karur Vysya Bank share price has witnessed a decisive breakout from its prolonged ₹288– ₹300 consolidation range, indicating fresh buying momentum after several weeks of sideways movement.
The stock has also closed near the breakout zone of a descending falling trendline, suggesting that bullish sentiment is gradually strengthening.
On the technical front, the stock is comfortably trading above its key moving averages, while the 20-day EMA is providing immediate support.
The RSI stands at 58.90 with a positive crossover, reflecting improving momentum without entering the overbought zone.
“A sustained move above ₹304 can attract further buying interest and may push the stock towards ₹330. The ₹292 zone, which also coincides with the 50-day EMA, should act as a strong support and serve as the recommended stop-loss level,” said Shah.
Raymond Realty | Previous close: ₹702.80 | Target price: ₹777 | Stop loss: ₹670
As per Shah, Raymond Realty has displayed remarkable strength after delivering a decisive breakout above the ₹550 resistance zone, which has now transformed into a strong demand area.
Importantly, this zone also aligns with the 200-day EMA, making it a crucial long-term support.
Over the past few weeks, the stock has been consistently forming a higher high–higher low structure, reflecting sustained buying interest. It continues to respect the 20-day EMA on every dip, highlighting strong trend support.
The stock has now surpassed its previous swing high near ₹670 and is trading firmly above the ₹700 mark, confirming fresh momentum.
Additionally, the 50-day EMA is crossing above the 200-day EMA, while the RSI at 68.55 indicates strong bullish momentum.
“A sustained move above ₹702 can drive the stock towards ₹777, while ₹670 remains the ideal stop-loss as it marks the recent breakout retest zone,” said Shah.
Azad Engineering | Previous close: ₹2,246.50 | Target price: ₹2,400 | Stop loss: ₹2,121
Shah pointed out that Azad Engineering share price continues to maintain a strong higher high–higher low formation, reflecting a well-established medium-term uptrend.
After witnessing healthy consolidation near higher levels, the stock is now trading close to the upper boundary of a falling trendline, indicating that a breakout could trigger the next leg of the rally.
Technically, the stock is comfortably placed above all its major moving averages, with the 20-day EMA acting as immediate support, reinforcing the prevailing bullish structure.
The RSI is trading at 63.10, signalling improving momentum while still leaving room for further upside.
The stock is also trading close to its all-time high, which enhances the possibility of a fresh breakout if buying momentum sustains.
“A close above ₹2,246 may pave the way towards ₹2,400, while ₹2,121 should be maintained as the stop-loss to effectively manage downside risk,” said Shah.
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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.
