Equity benchmarks clocked a 1.21 percent rally on June 26, continuing their uptrend for the third consecutive day. However, the market breadth did not entirely reflect this optimism and was only slightly in favour of the bulls. About 1,337 shares saw buying interest, compared to 1,263 shares that declined on the NSE. Momentum is expected to drive the rally further in the equity markets. Below are some short-term trading ideas to consider:
Mandar Bhojane, Equity Research Analyst at Choice Broking
Bajaj Finserv | CMP: Rs 2,053.6
Bajaj Finserv is showing signs of a bullish breakout from a symmetrical triangle pattern on the daily chart, signalling a potential trend reversal. This view is further supported by increasing trading volumes, indicating growing participation.
The stock has immediate support around Rs 2,015, which can be considered a strong accumulation zone for investors looking to enter on dips. The RSI stands at 58.63 and is trending upwards, reflecting increasing bullish momentum. Given these technical signals, Bajaj Finserv appears poised for an upward move.
Strategy: Buy
Target: Rs 2,280, Rs 2,300
Stop-Loss: Rs 1,950
ICICI Prudential Life Insurance Company | CMP: Rs 647.3
ICICI Prudential is currently consolidating within a narrow range, forming a bullish flag and pole pattern on the daily chart. The strong volume observed during this phase suggests accumulation and enhances the probability of an upward breakout. A decisive close above the key resistance at Rs 650 would confirm the breakout and strengthen bullish momentum.
The RSI is at 58.57, indicating positive sentiment with room for additional upside. Importantly, the stock has also given a golden crossover across key moving averages—20, 50, 100, and 200 EMA—signalling a strong bullish trend and potential continuation. On the downside, immediate support is placed at Rs 640, making it a favourable entry level for dip buyers.
Strategy: Buy
Target: Rs 700, Rs 730
Stop-Loss: Rs 620
LIC Housing Finance | CMP: Rs 662
LIC Housing Finance has recently formed a Rectangle pattern on the daily chart, typically signalling a consolidation phase before a significant move. The rising volume during this formation suggests growing interest and the potential for a trend reversal.
A decisive close above Rs 625 will confirm the breakout, likely reinforcing the uptrend and paving the way for further gains. The RSI is at 59.01, pointing to gradually building positive momentum while still leaving room for additional upside. On the downside, immediate support lies at Rs 600, which can be seen as an attractive level for buying on dips.
Strategy: Buy
Target: Rs 700, Rs 720
Stop-Loss: Rs 585
Om Mehra, Technical Research Analyst at Samco Securities
FSN E-Commerce Ventures | CMP: Rs 206.85
Nykaa has been gradually gaining momentum after a period of sideways consolidation and is now approaching a key resistance near Rs 208. The stock has recently formed a double bottom pattern, which now acts as strong support. This bullish reversal pattern is supported by a higher low formation and a consistent optimistic outlook.
The price is currently trading above the Supertrend level and the short-term moving averages, indicating a positive undertone. The RSI stands at 61 with a rising slope, suggesting healthy momentum without signs of exhaustion. The MACD has turned bullish, with a fresh crossover and the histogram back in green territory—reflecting improving participation. Volume activity remains stable, and a breakout above Rs 208 could trigger further upside.
Strategy: Buy
Target: Rs 218
Stop-Loss: Rs 198
Avenue Supermarts | CMP: Rs 4,315.4
DMart has resumed its upward momentum after consolidating in a narrow range just above the key resistance zone near Rs 4,250. The stock is forming a tight bullish continuation pattern, resembling a flag or narrow base breakout, and is showing resilience after reclaiming short-term moving averages. It is now trading well above the 50-day simple moving average, placed at Rs 4,150, while the previous resistance zone has flipped into support.
The broader trend remains intact, with the price forming a sequence of higher lows. The RSI stands at 60 and continues to inch higher with a steady slope. The MACD shows a clean bullish crossover, with the fast line moving well above the signal line and the histogram expanding on the positive side. Volume activity has picked up modestly over the last few sessions as well.
A decisive move above the immediate swing high at Rs 4,360 could lead to a fresh leg higher. The current consolidation appears constructive and may serve as a springboard for the next move.
Strategy: Buy
Target: Rs 4,600
Stop-Loss: Rs 4,190
Kajaria Ceramics | CMP: Rs 1,118.80
Kajaria Ceramics has shown a decisive trend reversal after a prolonged downtrend and is now trading firmly above its 20-day and 50-day EMAs. The recent breakout above the Rs 1,100 zone marks a strong shift in momentum, as the stock also attempts to reclaim levels near its 200-day SMA for the first time in several months. The price structure reflects sustained buying interest with higher highs and higher lows over the last few weeks.
The RSI has surged above 70, indicating strong momentum, while the MACD remains in a positive crossover with widening divergence, suggesting further strength in the uptrend. Volume has picked up consistently through the recent rally, confirming accumulation. In the broader time frame, the prior congestion zone around Rs 1,025–1,050 now acts as a strong base, and a close above the 200-day SMA could invite fresh participation.
Strategy: Buy
Target: Rs 1,220
Stop-Loss: Rs 1,070
Chandan Taparia, Head Derivatives & Technicals, Wealth Management at Motilal Oswal Financial Services
Reliance Industries | CMP: Rs 1,495.3
Reliance has broken out of a classic pole and flag pattern on the daily chart, supported by a large-bodied bullish candle and higher-than-average volumes—both signalling strong follow-through buying interest. The rising RSI further confirms strengthening bullish momentum, indicating the potential for continued upside.
Strategy: Buy
Target: Rs 1,600
Stop-Loss: Rs 1,440
Max Healthcare Institute | CMP: Rs 1,266.5
Max Healthcare has given a decisive range breakout near its all-time high zones, highlighting bullish intent. The stock continues to respect its 50-day exponential moving average (50 DEMA), with minor dips attracting buyers. A rising MACD supports the ongoing momentum and indicates further upside potential.
Strategy: Buy
Target: Rs 1,350
Stop-Loss: Rs 1,230
Jio Financial Services | CMP: Rs 312.5
Jio Financial remains in a firm uptrend, consistently respecting its 20-day exponential moving average (20 DEMA) as dynamic support. Notably, a bullish Marubozu candle has formed on the weekly chart, reinforcing strong sentiment. A bullish MACD crossover on the daily chart further strengthens the bullish case.
Strategy: Buy
Target: Rs 335
Stop-Loss: Rs 300
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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