Trade Spotlight: How should you trade Bharti Airtel, HCL Technologies, HDFC Life Insurance, Larsen & Toubro, and others on December 9?

Top Buy Ideas for December 9

The benchmark indices reversed the previous two days' gains, with the Nifty 50 falling 0.86 percent on December 8. Market breadth was dominated by bears, with 2,452 shares declining against 434 advancing shares on the NSE. The market sentiment is expected to be bearish in the short term. Below are some short-term trading ideas to consider:

Vidnyan S Sawant, Head of Research at GEPL Capital

Bharti Airtel | CMP: Rs 2,086.2

On the daily scale, Bharti Airtel follows a consistent behaviour of correcting 5–6% before resuming its rally, and the recent bounce from the 26-DEMA once again reflects this pattern.

Momentum remains supportive, with the weekly MACD trending higher, reinforcing the positive outlook and signalling that the stock is well-positioned for further upside.

Strategy: Buy

Target: Rs 2,211

Stop-Loss: Rs 2,020

Larsen & Toubro | CMP: Rs 3,996.7

Larsen & Toubro remains in a strong long-term uptrend, with October marking a breakout from a year-long consolidation, supported by a strong bullish candle. The stock is firmly above the 12-week EMA, indicating sustained trend strength.

On the daily chart, it continues to form higher tops and bottoms, and the recent 4% correction — in line with its usual pattern — has completed, followed by a bullish mean reversion from the 26-DEMA. The MACD is also rising with a strengthening histogram, reinforcing sustained bullish momentum.

Strategy: Buy

Target: Rs 4,275

Stop-Loss: Rs 3,876

HCL Technologies | CMP: Rs 1,688.6

HCL Technologies continues to display strong structural strength, maintaining a series of higher bottoms on the monthly scale since 2020. On the weekly chart, the recent breakout from a symmetrical triangle in November has propelled the stock into a renewed upward phase. The daily timeframe also shows a breakout from an 11-day inside-bar pattern, with the stock sustaining above the 12-DEMA, indicating trend continuation.

Momentum remains supportive, as the weekly MACD stays above the equilibrium line with a rising histogram, reinforcing improving bullish momentum and the likelihood of further upside.

Strategy: Buy

Target: Rs 1,789

Stop-Loss: Rs 1,637

Reliance Industries | CMP: Rs 1,543

Reliance continues to maintain a strong long-term uptrend, moving steadily within an upward-sloping channel since 2020 and consistently forming higher bottoms, indicating healthy structural demand.

On the weekly chart, the recent breakout from the Cup & Handle pattern signals renewed strength and readiness for the next leg of the up-move. The stock is firmly positioned above the 12-week EMA, keeping the trend decisively bullish. Momentum remains supportive as the weekly MACD stays in buy mode with a rising histogram, reinforcing sustained upside traction.

Strategy: Buy

Target: Rs 1,620

Stop-Loss: Rs 1,504

Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities

HDFC Life Insurance Company | CMP: Rs 764.05

HDFC Life Insurance Company continues to show a bullish trend, closing above the 10, 20, and 50-day EMAs on a weekly closing basis. A long build-up is also visible, and the MACD indicator remains positive.

Traders can consider buying near the Rs 760-764 range with a stop-loss below Rs 740 on a closing basis.

Strategy: Buy

Targets: Rs 774, Rs 785, Rs 800

Stop-Loss: Rs 740