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
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.
Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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