Top stocks to buy for the short term: After falling 6% in September and extending losses for the second consecutive month, the market benchmark Nifty has been flat so far in October amid lingering concerns over higher oil prices, elevated bond yields, and foreign capital outflows.
According to Pabitro Mukherjee, Deputy Vice President – Technical at Bajaj Broking, in the coming sessions, a move above last week’s high of 22,776 will trigger a further pullback towards the 23,000-23,100 levels.
However, failure to move above 22,776 will signal corrective consolidation within the 22,200-22,750 range. While a breach below the almost identical low of April 2026 and last week’s low of 22,180 will open further downside towards the CY25 low of 21,750, said Mukherjee.
Stock picks for short term
Pabitro Mukherjee recommends the following five stocks to buy for up to six months:
Axis Bank | Previous close: ₹1,268.40 | Buy in the range of ₹1,255 to ₹1,275 | Target price: ₹1,350 | Stop loss: ₹1,215 | Time horizon: 3 months
According to Mukherjee, Axis Bank stock has moved above the 50-day EMA and formed a breakout above a falling trendline connecting the highs of June and September 2026, signalling strength and a resumption of the uptrend.
The base of the recent consolidation is placed at the 100-week EMA, signalling overall positive bias in the stock.
The weekly 14-period RSI has generated a buy signal by moving above its nine-period average, supporting the positive bias.
“We expect the stock to head towards ₹1,340, being the 80% retracement of the previous decline of ₹1,400- ₹1,175,” said Mukherjee.
Varun Beverages (VBL) | Previous close: ₹442 | Buy in the range of ₹430 to ₹442 | Target price: ₹476 | Stop loss: ₹415 | Time horizon: 3 months
Mukherjee said the VBL share price over the last 7 months has been consolidating in the broad range of ₹380 to ₹550.
It is currently rebounding after forming a base at the lower band of the last 7 months’ range, thus offering a fresh entry opportunity with a favourable risk-reward setup.
The entire consolidation is anchored around the 200-week EMA, signalling base formation.
“We expect the stock to head towards ₹476 levels in the coming months, being the 50% retracement of the previous decline from ₹555 to ₹396,” said Mukherjee.
Sudarshan Chemical Industries | Previous close: ₹1,148.30 | Buy in the range of ₹1,135 to ₹1,155 | Target price: ₹1,276 | Stop loss: ₹1,080 | Time horizon: 3 months
Mukherjee said Sudarshan Chemical Industries stock on the daily chart has formed a bullish hammer-like candlestick pattern, highlighting buying demand at lower levels and resumption of the primary uptrend.
The stock is seen rebounding after a base at the previous breakout area and above the 100-day EMA.
The daily stochastic is rebounding from oversold territory and is on the cusp of generating a buy signal, thus validating the positive bias.
“We expect the stock to head towards the ₹1,276 level, being the trendline resistance joining previous major highs of September and October,” said Mukherjee.
Kajaria Ceramics | Previous close: ₹1,226.70 | Buy in the range of ₹1,210 to ₹1,232 | Target price: ₹1,343 | Stop loss: ₹1,147 | Time horizon: 6 months
Mukherjee underscored that Kajaria Ceramics stock has been consolidating within a defined range over the past three months, forming a base above its 52-week EMA.
This price action suggests that selling pressure has largely been absorbed and that the prevailing uptrend remains intact.
“We believe the consolidation phase is approaching maturity, and the stock is likely to resume its upward trajectory,” said Mukherjee.
The stock has recently broken out above the falling trendline connecting its highs of the last two years on the long-term chart.
This breakout signals a shift in the broader structure from corrective to constructive and highlights an improving trend.
“We believe the development offers a fresh entry opportunity for investors and suggest accumulating the stock in a staggered manner for the long-term investment,” said Mukherjee.
“The stock is expected to head towards ₹1,343 in the coming quarters, being the measuring implication of the last 3 months’ range and the price parity of the previous up move from ₹1,041 to ₹1,271, as projected from the recent trough of ₹1,164, signals upside towards the ₹1,370 level,” said Mukherjee.
EPL | Previous close: ₹233.97 | Buy in the range of ₹228 to ₹236 | Target price: ₹268 | Stop loss: ₹214 | Time horizon: 6 months
According to Mukherjee, EPL share price, after the last two months’ corrective decline, is forming a base at the 52-week EMA and the 80% retracement of the previous up move, ₹204- ₹274.
The stock has already taken 8 weeks to retrace just 80% of its previous three-week up move. A shallow retracement signals strength and the formation of a higher base during the current decline.
The stock is expected to resume its up move and head towards ₹268 in the coming months, being the 80% retracement of the recent decline from ₹274 to ₹227,” said Mukherjee.
“The weekly stochastic is rebounding from the oversold territory and is at the cusp of generating a buy signal, thus validating positive bias,” said Mukherjee.
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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 the expert, 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.
