The benchmark indices closed moderately lower, with the Nifty 50 snapping its eight-day winning streak on September 15, but the market breadth was positive. A total of 1,539 shares advanced compared to 1,283 declining shares on the NSE. The market may remain consolidative with rangebound trading until the August high is decisively broken. Below are some short-term trading ideas to consider:
Jigar S Patel, Senior Manager - Equity Research at Anand Rathi
Cochin Shipyard | CMP: Rs 1,807.8
Cochin Shipyard has established a strong technical base with a triple-bottom pattern in the Rs 1,650–1,700 zone, reinforcing investor confidence at lower levels. The stock has now given a trendline breakout, further validated by a bullish divergence on the MACD histogram, signaling a likely shift in momentum.
Adding to the positive setup, the price has managed to close above the R4 Camarilla monthly pivot—a crucial breakout level—indicating strength in the current trend. Traders may consider entering long positions in the Rs 1,820–1,780 zone, with an upside target of Rs 2,100.
Strategy: Buy
Target: Rs 2,100
Stop-Loss: Rs 1,650
ITI | CMP: Rs 322.55
ITI is showing encouraging signs of strength after successfully holding near its previous demand and breakout zone, reinforcing a solid support base. The stock has recently managed to close marginally above the monthly pivot, a breakout level that often signals continuation of an uptrend.
On shorter timeframes, hourly charts are reflecting bullish divergence, further validating the possibility of momentum picking up in the near term. This confluence of technical indicators suggests an attractive risk-reward setup. Traders may consider entering long positions in the Rs 325–315 zone, with an upside target of Rs 380.
Strategy: Buy
Target: Rs 380
Stop-Loss: Rs 290
Aditya Birla Real Estate | CMP: Rs 1,866.2
A strong base formation is observed in the Rs 1,780–1,830 zone, providing a solid support area for Aditya Birla Real Estate. This zone also coincides with a previously established demand zone, reinforcing its significance. Recently, a trendline breakout has been witnessed around this region, supported by a positive signal on the MACD histogram, which indicates a shift in momentum.
Such technical alignment between base formation, demand zone support, and momentum breakout strengthens the case for potential upside. As long as prices hold above the Rs 1,780–1,830 zone, the outlook remains constructive, with scope for a sustained move higher in the near term. Traders may consider entering long positions in the Rs 1,840–1,870 zone, with a target of Rs 2,050.
Strategy: Buy
Target: Rs 2,050
Stop-Loss: Rs 1,755
Vidnyan S Sawant, Head of Research at GEPL Capital
NBCC India | CMP: Rs 107.66
NBCC has witnessed a breakout from a flag and pole chart pattern in the prior week, signaling a potential bullish continuation. Additionally, the stock has shown a mean reversion from the 50-week EMA, which aligns with the 50% Fibonacci retracement level, indicating strong buying interest at key technical support. On the momentum front, the RSI has exhibited a bullish divergence, and the positive crossover further reinforces the likelihood of a trend reversal, suggesting building upward momentum.
Strategy: Buy
Target: Rs 121
Stop-Loss: Rs 102
Olectra Greentech | CMP: Rs 1,647.4
Olectra Greentech has shown positive price action across multiple timeframes, reflecting sustained bullish momentum. On the monthly chart, the stock is forming a higher top–higher bottom structure, indicating a strong uptrend. On the weekly timeframe, the stock found support near the 61.8% Fibonacci retracement level, from where it has resumed its upward trajectory—signaling renewed buying interest and bullish sentiment. Furthermore, the RSI remains above 60, reinforcing the view of sustained positive momentum in the stock.
Strategy: Buy
Target: Rs 1,877
Stop-Loss: Rs 1,560
Nava | CMP: Rs 705
Nava has been in a sustained uptrend since the 2020 bottom, and recent price action suggests continued strength. On the monthly chart, the stock formed a base near its 12-month EMA, and the breakout in August indicates a robust price structure with the potential for further upside. On the weekly timeframe, the stock is trading firmly above key moving averages—namely the 5-, 12-, and 26-week EMAs—signaling strong trend alignment. Additionally, the RSI is holding near 70, highlighting solid momentum and sustained bullish sentiment.
Strategy: Buy
Target: Rs 775
Stop-Loss: Rs 675
Sarda Energy & Minderals | CMP: Rs 626.15
Sarda Energy continues to remain in a strong uptrend on the monthly chart. In August, the stock broke out of a 10-month consolidation zone, signaling a shift in momentum. The current month reflects continued buying interest, further validating the breakout. The stock is now trading at all-time highs, indicating robust bullish momentum. Additionally, the presence of a bullish divergence adds strength to the overall positive outlook.
Strategy: Buy
Target: Rs 725
Stop-Loss: Rs 595
Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities
Lupin | CMP: Rs 2,046
Lupin has provided a breakout from the falling trendline, with short-covering data in its futures segment clearly indicating a short-term trend reversal from down to up. There has been clear Call unwinding at the Rs 2,040 and Rs 2,100 strikes, which is positive, and there have been aggressive Put additions as well, indicating support at lower levels. The stock is trading well above its maximum pain level of Rs 2,000, indicating that the short-term trend is positive. Buy Lupin Futures in the range of Rs 2,030–2,050.
Strategy: Buy
Target: Rs 2,130, Rs 2,160
Stop-Loss: Rs 1,980
Siemens | CMP: Rs 3,293.7
Siemens has provided a breakout and a close above the symmetrical triangular pattern, with short-covering data in the futures segment, which is a positive sign in the near term. There were significant shorts in the stock, and with the short-term trend reversal in the price, further short covering can’t be ruled out.
The options data suggests that above the Rs 3,300 strike, there will be additional short covering, as it has the highest Call base. Beyond these levels, there will likely be even more short covering. The stock has closed well above its maximum pain level of Rs 3,200; hence, there is good support at lower levels. Buy Siemens Futures in the range of Rs 3,300–3,320.
Strategy: Buy
Target: Rs 3,420, Rs 3,500
Stop-Loss: Rs 3,230
Reliance Industries | CMP: Rs 1,399.3
Reliance Industries has provided a breakout from the falling trendline, with short-covering data in the futures segment, which is a positive trend reversal sign in the near term. The stock has closed at Rs 1,400 levels, which has the highest Call base; hence, this is also positive in the near term. There has been considerable Call unwinding from the Rs 1,360 to Rs 1,400 strikes, as well as Put additions at the Rs 1,400 strike, indicating support at lower levels. So, there is a higher probability of further short covering in the near term. Buy Reliance Futures in the range of Rs 1,400–1,405.
Strategy: Buy
Target: Rs 1,460, Rs 1,480
Stop-Loss: Rs 1,370
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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