The benchmark indices rallied more than 1.2 percent, recouping all the previous three days’ losses on November 26, with strong market breadth. A total of 2,130 shares advanced against 712 declining shares on the NSE. Given the healthy trend, the market may attempt to touch a record high amid possible consolidation. Below are some short-term trading ideas to consider:
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking
Bajaj Auto | CMP: Rs 9,164
The Nifty Auto index touched a new all-time high, reflecting broad-based strength across most auto stocks. Bajaj Auto has broken out of a symmetrical triangle near the Rs 9,000 level and closed decisively above it. The breakout was accompanied by higher-than-average volumes, reinforcing bullish conviction.
Additionally, the MACD on the daily chart has generated a fresh buy signal above the zero line, signaling improving momentum. On the downside, the 21-DMA and 50-DMA, converging around Rs 8,930, provide a solid support zone that can absorb minor pullbacks. Overall, the stock looks well positioned for an upside move toward the Rs 9,550 level in the near term.
Strategy: Buy
Target; Rs 9,550
Stop-Loss: Rs 8,930
Max Financial Services | CMP: Rs 1,736.7
Max Financial Services recently delivered a multi-month breakout near the Rs 1,670 level, followed by a throwback that successfully retested this breakout zone. It has now surged to new all-time highs on higher-than-average volumes and is trading comfortably above both its short-term and long-term moving averages.
Derivatives data also signals a fresh build-up of long positions, reinforcing the positive sentiment. Technically, the RSI’s move above 50 confirms strengthening bullish momentum. With this setup, the stock looks poised for an upside move toward the Rs 1,880 level, while immediate support remains strong around Rs 1,670.
Strategy: Buy
Target: Rs 1,880
Stop-Loss: Rs 1,670
HDFC Life Insurance Company | CMP: Rs 787.55
HDFC Life has broken out of an inverse Head & Shoulders pattern on the daily chart, with the move validated by higher-than-average volumes, highlighting strong buying interest. The conservative upside target for this pattern is around Rs 830, while the 50-day moving average provides immediate support near Rs 758.
The stock’s continued trade above all major short- and long-term moving averages underscores a solid and sustained bullish trend. Momentum indicators and oscillators on the daily timeframe also remain in buy mode, further supporting the positive outlook.
Strategy: Buy
Target: Rs 830
Stop-Loss: Rs 758
Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities
UNO Minda | CMP: Rs 1,320.1
UNO Minda has registered a clean breakout from its consolidation, accompanied by a sharp jump in volumes, highlighting strong buying interest. Throughout this consolidation phase, the stock consistently held above its 20-day EMA, reinforcing this zone as a reliable dynamic support.
The +DI crossing above –DI on the ADX indicator signals a shift in directional bias toward the bulls, indicating strengthening trend momentum. Additionally, the RSI has turned upward after a brief pause, reflecting renewed bullish momentum and improving price strength.
Together, these signals point to a continuation of the positive trend. Hence, we recommend accumulating the stock in the zone of Rs 1,325–1,315.
Strategy: Buy
Target: Rs 1,415
Stop-Loss: Rs 1,270
Siemens | CMP: Rs 3,318.8
On Wednesday, Siemens gave a horizontal trendline breakout on the daily scale along with robust volume. Currently, it is on the verge of giving a 5-month consolidation breakout. The +DI crossing above –DI on the ADX indicator confirms a shift in directional strength in favour of the bulls.
Additionally, the MACD line remains above both the signal line and the zero line, reinforcing positive momentum. The RSI is also in a rising mode, reflecting sustained improvement in upside strength. Hence, we recommend accumulating the stock in the zone of Rs 3,320–3,300.
Strategy: Buy
Target: Rs 3,540
Stop-Loss: Rs 3,205
L&T Finance | CMP: Rs 307.6
L&T Finance has given a flag-and-pole pattern breakout on the daily chart, signaling continuation of its prior uptrend. After a sharp 10% surge on November 7, the stock retraced within a downward-sloping channel before rebounding strongly near its 20-day EMA, a zone that has acted as a reliable support twice in the last two months. This consistent defense of the short-term average highlights strong underlying demand.
The RSI, which briefly dipped below 60, has turned higher again, indicating improving bullish momentum. The breakout has also been accompanied by a notable rise in volumes, adding conviction to the positive setup. Hence, we recommend accumulating the stock in the zone of Rs 308–305.
Strategy: Buy
Target: Rs 330
Stop-Loss: Rs 296
Rupak De, Senior Technical Analyst at LKP Securities
ASK Automotive | CMP: Rs 493.5
ASK Automotive has moved up after a few days of consolidation on the daily timeframe, indicating renewed buying interest. Moreover, the price has moved above the 21-EMA, confirming a bullish trend.
The RSI has also given a breakout on the daily timeframe. The short-term trend is likely to remain positive, with the potential to move towards Rs 520. On the lower end, support is placed at Rs 484.
Strategy: Buy
Target: Rs 520
Stop-Loss: Rs 484
Vedanta | CMP: Rs 516.3
Vedanta has moved up in the last two days after finding support at the recent consolidation low. In addition, the price has moved above the 21-EMA. The RSI is in a bullish crossover and shows a hidden positive divergence on the daily timeframe.
The current sentiment may continue to remain positive, with the potential for the price to rise towards Rs 540, while support is placed at Rs 504.
Strategy: Buy
Target: Rs 540
Stop-Loss: Rs 504
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.
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