The benchmark indices maintained their upward journey, rising 0.7 percent, with the Nifty 50 climbing above 24,300 and the BSE Sensex surpassing the 80,000 mark on April 24. The market breadth was largely equal, with 1,305 shares advancing compared to 1,262 declining shares on the NSE. The market could see some consolidation and profit booking in the upcoming sessions, though the overall trend remains positive. Below are some trading ideas for the near term:
Vidnyan S Sawant, Head of Research at GEPL Capital
Redington | CMP: Rs 238
Redington has been exhibiting a classical upward trend, moving within a well-defined rising channel and consistently forming higher tops and higher bottoms. This structural strength is further validated by a noticeable pickup in volume activity over the past few weeks, indicating growing participation.
The current week’s price action reinforces the bullish stance, as the stock has formed a rally-base-rally pattern—a classic signal of trend continuation. Additionally, the stochastic indicator on the weekly timeframe has shown a bullish crossover, suggesting a fresh momentum buildup and supporting the case for continued upside.
Strategy: Buy
Target: Rs 274
Stop-Loss: Rs 223
Mahindra and Mahindra | CMP: Rs 2,917.8
M&M has demonstrated strong resilience on the higher timeframes, maintaining a consolidation for the past nine months despite broader market volatility. This prolonged range-bound structure reflects accumulation and underlying strength. In the current month, the stock has attracted buying interest near the lower end of the consolidation zone, signaling a potential shift in momentum.
Furthermore, the current week’s price action is notable, as the stock is trading above the high of the previous eight weeks, supported by a strong bullish candlestick formation. The stochastic indicator is also trending higher after a recent bullish crossover, indicating sustained upward momentum.
Strategy: Buy
Target: Rs 3,267
Stop-Loss: Rs 2,741
Avanti Feeds | CMP: Rs 874.8
Avanti Feeds has been forming a series of higher tops and higher bottoms since March 2023, indicating a sustained positive trend. On the weekly scale, the stock has shown strong support at the polarity zone of July 2022, reinforcing the significance of that level as a key base for the current uptrend. The stock continues to hold well above its 50-week and 100-week EMAs, which further supports the positive price structure. Additionally, the stochastic indicator has shown a bullish crossover on the weekly timeframe, suggesting an improvement in momentum aligned with the polarity shift.
Strategy: Buy
Target; Rs 1,006
Stop-Loss: Rs 820
L&T Finance | CMP: Rs 180
L&T Finance has exhibited robust price structure development after finding support at the 50% Fibonacci retracement level of ?135. The stock spent 24 weeks in a congestion zone before breaking out last week. In the current week, L&T Finance attracted follow-through buying and formed a strong bullish candlestick with its open equal to its low. Volume surged above the 12-week average, reinforcing the bullish outlook, while the RSI (Relative Strength Index) momentum indicator stands at 67, denoting accelerating momentum.
Strategy: Buy
Target: Rs 200
Stop-Loss: Rs 169
Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan
Cummins India | CMP: Rs 2,965.9
Cummins India has broken out of a five-day consolidation on the upside with above-average volume, suggesting increased participation in the direction of the trend. The daily momentum indicator has a positive crossover, which is a buy signal.
Strategy: Buy
Target: Rs 3,030
Stop-Loss: Rs 2,910
Bharti Airtel | CMP: Rs 1,881.6
Bharti Airtel is in an uptrend, and the recent pullback to the hourly moving averages should be considered a buying opportunity. The daily momentum indicator has a positive crossover, and the hourly momentum indicator has just triggered a fresh positive crossover, which is also a buy signal. Thus, this dip should be considered a buying opportunity.
Strategy: Buy
Target: Rs 1,925
Stop-Loss: Rs 1,820
GMR Airports | CMP: Rs 87.57
GMR Airports has been consolidating in a narrow range for the past couple of weeks. A breakout on the upside is expected. The hourly momentum indicator is on the verge of giving a positive crossover, supporting the bullish outlook on the index.
Strategy: Buy
Target: Rs 92
Stop-Loss: Rs 85.50
Vatsal Bhuva, Technical Analyst at LKP Securities
Escort Kubota | CMP: Rs 3,446.4
Escorts Kubota's chart structure is positive, having given a breakout from consolidation on the weekly chart by moving above its 20-week EMA. On the daily chart, it is sustaining above both its 20-day and 50-day EMAs, indicating strong short- to medium-term momentum. Additionally, the RSI is showing a bullish crossover, further supporting the upward trend. Based on the technical setup, the stock can be bought in the Rs 3,400–Rs 3,434 range.
Strategy: Buy
Target: Rs 3,600
Stop-Loss: Rs 3,295
Emami | CMP: Rs 646.85
Emami found strong support near the 78.6% Fibonacci retracement level after a correction from its recent high, signaling the end of its corrective phase. A recovery followed, with the stock gaining momentum and closing above its 20-week EMA, while also sustaining above the 20-day EMA—indicating renewed bullish strength. The RSI on the weekly chart has entered a bullish crossover, adding to the positive outlook. Hence, one can consider buying the stock in the Rs 640–645 range.
Strategy: Buy
Target: Rs 685
Stop-Loss: Rs 618
Astral | CMP: Rs 1,407.6
Astral has given a falling trendline breakout on the daily chart and a consolidation breakout on the weekly chart, signaling a potential trend reversal. It is sustaining above its 20-day EMA and has closed above the 50-day EMA, indicating growing strength in the uptrend. Additionally, the RSI is in a bullish crossover, supporting the momentum shift. These technical indicators suggest further recovery in the stock. One can buy the stock in the Rs 1,390–1,405 range.
Strategy: Buy
Target: Rs 1,470
Stop-Loss: Rs 1,358
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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