Trade Spotlight: How should you trade Avenue Supermarts, Glenmark, Bharat Dynamics, Torrent Pharma, Cummins India, and others on March 10?

Top Buy Ideas on March 10

• Experts advise buying top 9 stock ideas including Avenue Supermarts, Glenmark, Bharat Dynamics, Torrent Pharma, Cummins India

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Equity benchmarks nosedived 1.7 percent at the close on March 9 after a big gap-down opening, with market breadth completely dominated by bears. A total of 2,507 shares saw selling pressure against 471 advancing shares on the National Stock Exchange. The market is expected to rebound after the severe correction, but the sustainability of the uptrend will be the key factor to watch. Below are some short-term trading ideas to consider:

Jay Thakkar, Head of Derivatives and Quant Research and Vice President at ICICI Securities

Avenue Supermarts | CMP: Rs 3,966.2

Avenue Supermarts has seen some short covering in the last trading session despite overall market weakness. The stock witnessed an upward move, showing strength in the near term. There has been a significant fall in the stock price from approximately Rs 4,950 to Rs 3,850, after which it posted a positive monthly close in February, indicating a pause in the near term.

In the last trading session, it provided a breakout from the falling channel, and with that, it also witnessed some short covering, which indicates that the stock can inch towards Rs 4,100–4,220 in this move. There is a heavy Call base at the Rs 4,000 strike, so above these levels one may also witness some Call unwinding in the stock. The stock is trading well above Rs 3,900, which is its maximum pain level and hence a critical support in the near term. Buy Avenue Supermarts Futures in the range of Rs 3,950–3,980.

Strategy: Buy

Target: Rs 4,100-4,220

Stop-Loss: Rs 3,800

Glenmark Pharmaceuticals | CMP: Rs 2,117.6

The pharma sector has shown good resilience during the overall correction in the markets, and it has been one of the outperformers. As far as Glenmark is concerned, it has taken support at the mean of the Bollinger Bands, and along with that there has been short covering in the futures segment as well.

As per the options data, the highest Call base is at the Rs 2,100 strike, and the stock has closed above the same, indicating a high chance of a further up move supported by Call unwinding in the near term. It is also trading well above its maximum pain level of Rs 2,060, which will now act as a short-term support. Buy Glenmark Pharma Futures in the range of Rs 2,110–2,130.

Strategy: Buy

Target: Rs 2,220, Rs 2,280

Stop-Loss: Rs 2,020

Reliance Industries | CMP: Rs 1,424

Reliance has been outperforming in the near term, mainly due to the sudden sharp surge in international crude oil prices, which is likely to improve refining margins in the near term. Short covering has also been witnessed in the futures segment, and the stock has shown good resilience as there is buying interest at lower levels.

Due to this reversal in prices, there have been good Put additions from the Rs 1,400–1,300 strikes, and the stock has also managed to close above its maximum pain level of Rs 1,410, thus increasing the upside probability. Buy Reliance Industries Futures in the range of Rs 1,410–1,430.

Strategy: Buy

Target: Rs 1,480, Rs 1,520

Stop-Loss: Rs 1,360

Jigar S Patel, Senior Manager - Equity Research at Anand Rathi

Bharat Dynamics | CMP: Rs 1,335.5

Bharat Dynamics has stabilised near the Rs 1,220–1,250 zone, which coincides with a previous demand area, indicating strong buying interest at lower levels. Technical indicators are also turning supportive, as a bullish divergence is visible on both the RSI and Stochastics, suggesting that downside momentum is weakening and a potential upward move may develop.

In addition, a noticeable surge in trading volumes reflects renewed participation from market participants. Traders may consider entering long positions in the Rs 1,340–1,320 zone.

Strategy: Buy

Target: Rs 1,535

Stop-Loss: Rs 1,220

Mazagon Dock Shipbuilders | CMP: Rs 2,387

A notable surge in volumes from lower levels indicates renewed buying interest and accumulation in Mazagon Dock Shipbuilders. Technically, the price has broken out of a regression channel, supported by a strong Pearson R score of 0.93, which suggests a well-defined and reliable trend structure.

Momentum indicators are also turning favourable. The MACD has generated a bullish crossover, typically seen as an early signal of improving upward momentum. At the same time, the Relative Strength Index (RSI) is hovering near the 60 level, indicating strengthening momentum while still leaving room for further upside before reaching overbought territory. Traders may consider entering long positions in the Rs 2,400–2,350 zone, with a target of Rs 2,650.

Strategy: Buy

Target: Rs 2,650

Stop-Loss: Rs 2,200

Natco Pharma | CMP: Rs 1,002.7

Natco Pharma has broken out above a falling trendline with a noticeable rise in volumes, indicating a potential shift in momentum. Technically, the setup is further supported by the RSI placed near the 66 level, reflecting strengthening momentum, while the MACD has also generated a bullish crossover, signalling improving trend strength. The breakout suggests that the stock may continue its upward trajectory if buying interest sustains.

Considering the alignment of multiple indicators, the setup favours a bullish outlook. Traders may consider entering long positions in the Rs 1,005–985 zone, with a target of Rs 1,155.

Strategy: Buy

Target: Rs 1,155

Stop-Loss: Rs 925

Vidnyan S Sawant, Head of Research at GEPL Capital

Torrent Pharma | CMP: Rs 4,373.7

Torrent Pharmaceuticals has been in a robust structural uptrend, consistently maintaining its position above the key 20-week and 50-week EMAs. Despite the prevailing market volatility, the stock has remained stable without any significant retracement, highlighting its strong relative strength. Additionally, the RSI is sustaining above the 70 level, indicating continued bullish momentum.

Strategy: Buy

Target: Rs 4,860

Stop-Loss: Rs 4,200

Cummins India | CMP: Rs 4,691.3

Cummins India exhibits strong structural strength on the weekly scale, with a bullish polarity shift, as the July 2024 swing high has turned into a support zone in February 2026, from where the stock has resumed its upward move. The stock continues to trade above its 12-, 26-, and 50-week EMAs, reflecting a well-aligned bullish trend.

On the daily scale, a bullish mean reversion from the 26-day EMA indicates renewed buying interest, while the MACD bullish crossover in recent weeks signals improving momentum and supports the continuation of the uptrend.

Strategy: Buy

Target: Rs 5,055

Stop-Loss: Rs 4,490

Aurobindo Pharma | CMP: Rs 1,247.3

Aurobindo Pharma has showcased robust structural development, witnessing a polarity shift where the May 2021 swing high is now acting as a key support zone and forming a base. This level also coincides with the 50 percent Fibonacci retracement, indicating a healthy trend structure. Additionally, the MACD indicator has registered a bullish crossover, reinforcing the positive outlook.

Strategy: Buy

Target: Rs 1,372

Stop-Loss: Rs 1,195