Stocks to buy for the short term: The Indian stock market continued to be under pressure for the fourth consecutive session on Monday, July 14, as the intensifying trade war kept investors on edge.
US President Donald Trump announced a 30 per cent tariff on imports from Mexico and the European Union (EU) starting on August 1. Earlier on Thursday, 11 July, announced a 35 per cent tariff rate for goods imported from Canada.
Trump’s fresh tariff threats have dealt a blow to market sentiment. The Nifty 50 has been rangebound for over a month now. On Monday, July 14, the index hit an intraday low of 25,019.75 during the session. For the month, the index is down about 2 per cent.
The index fell 1.22 per cent for the week ended July 11, extending losses to the second consecutive week.
Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, underscored that over the past two weeks, the Nifty 50 has repeatedly struggled to breach the critical resistance zone of 25,600–25,800.
Patel added that this zone is technically significant as it coincides with the gap-down region from early October 2024, which also marked a major market top. As a result, this area continues to act as a strong supply zone. A sustained breakout above this level is essential to revive bullish momentum and open the door for further upside.
On the downside, Patel said that the immediate support lies at the 25,000 level, supported by a rising trendline on short-term charts.
“A breakdown below this threshold may initiate a deeper corrective phase, potentially dragging the index towards the 24,500 area. Conversely, if support holds, a short-term technical rebound cannot be ruled out. However, any such recovery should be viewed as an opportunity to reduce long exposure, given the lack of broader participation and the absence of a meaningful correction so far,” said Patel.
Stock picks for the short-term
Jigar Patel recommends buying shares of NTPC, Voltas and Sun Pharma for the next two to three weeks.
NTPC | Previous close: ₹342.70 | Target price: ₹375 | Stop loss: ₹325
Patel underscored that NTPC has been forming a strong base in the ₹330–340 zone over the past two months, establishing an inside value relationship on monthly camarilla pivot — a structure that typically precedes a directional breakout.
This consolidation indicates reduced volatility and energy build-up, which often leads to an explosive move. Additionally, the RSI remains comfortably above the 50 mark, suggesting underlying bullish momentum is intact.
“We recommend initiating long positions in the ₹343–340 range, with an upside potential toward ₹375. A stop-loss should be placed below ₹325 on a daily closing basis to manage risk effectively,” said Patel.
Voltas | Previous close: ₹1,369.50 | Target price: ₹1,500 | Stop loss: ₹1,295
Patel pointed out that Voltas has established a strong base in the ₹1,330–1,340 zone over the past month.
This price action has led to the formation of an overlapping higher value relationship on the monthly Camarilla pivot, which typically signals accumulation and a potential upside breakout in the coming weeks.
The RSI is comfortably positioned above 60, indicating strengthening bullish momentum and favourable conditions for continuing the upward move.
“We recommend initiating long positions in the ₹1,370–1,350 zone, targeting an upside move towards ₹1,500. A stop loss should be maintained below ₹1,295 on a daily closing basis to manage risk effectively,” said Patel.
Sun Pharmaceutical | Previous close: ₹1,672 | Target price: ₹1,785 | Stop loss: ₹1,610
Patel highlighted that Sun Pharma has established a solid base in the ₹1,650–1,680 zone, which coincides with the S3 Camarilla monthly pivot and marks a critical support area.
This zone also aligns with a rising trendline and a lower median line of the pitchfork, offering strong technical confluence.
These multiple support factors suggest that the stock is likely to attract buying interest around current levels. A sustained move above this base could trigger a fresh upside, especially if broader market sentiment remains constructive.
“Traders may consider entering long positions in the ₹1,675–1,665 range, with a target price of ₹1,785 and a stop loss of ₹1,610 on a daily closing basis,” said Patel.
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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.
