The market remained under pressure for three consecutive days, falling more than half a percent on December 18, with breadth favouring bears. About 1,801 shares declined compared to 719 advancing shares on the NSE. Given the weak sentiment, the benchmark indices may extend their southward journey in the upcoming session. Below are some trading ideas for the near term:
Shitij Gandhi, Senior Technical Research Analyst at SMC Global Securities
Chalet Hotels | CMP: Rs 1,001
Chalet Hotels has been maintaining its bullish trend and is trading well above its 200-day exponential moving average (EMA) on the daily time frame. Last week, a fresh breakout above the key resistance of the Rs 950 level was observed on the charts, as the stock witnessed an upside after a prolonged consolidation phase. The rising volume, along with positive price action, suggests further upside potential for the stock. Therefore, one can accumulate the stock in the range of Rs 990-1,000 for the expected upside to Rs 1,160, with a stop-loss below Rs 900.
Strategy: Buy
Target: Rs 1,150, 1,160
Stop-Loss: Rs 900
Bharti Hexacom | CMP: Rs 1,545.85
Bharti Hexacom has been consolidating in a broader range of Rs 1,300-1,500 for the last few months, with prices sustaining well above its 100-day EMA on daily charts. Technically, the stock has formed an Inverted Head & Shoulder pattern on daily charts, with a breakout seen above the neckline of the pattern formation, accompanied by larger volumes. Therefore, one can accumulate the stock in the range of Rs 1,540-1,550 for the expected upside to Rs 1,775, with a stop-loss below Rs 1,400.
Strategy: Buy
Target: Rs 1,770, 1,775
Stop-Loss: Rs 1,400
Royal Orchid Hotels | CMP: Rs 356.85
Royal Orchid Hotels picked up fresh bullish momentum once again above its 200-day EMA on daily charts. However, since then, the stock has entered a consolidation phase. On broader charts, the stock has given a fresh breakout above the W pattern after forming a Double Bottom pattern around the Rs 300 level. Therefore, one can accumulate the stock in the range of Rs 350-355 for the expected upside to Rs 400, with a stop-loss below Rs 320.
Strategy: Buy
Target: Rs 395, Rs 400
Stop-Loss: Rs 320
Vidnyan Sawant, Head of Research at GEPL Capital
Radico Khaitan | CMP: Rs 2,553.2
Radico Khaitan has exhibited a robust price structure, forming higher tops and bottoms, indicating a bullish trend. The stock has experienced a volatility contraction breakout on the daily scale, accompanied by high volumes exceeding the 20-day average. The MACD (Moving Average Convergence Divergence) momentum indicator is trending upward, reinforcing the positive trend and confirming strong bullish momentum.
Strategy: Buy
Target: Rs 3,070
Stop-Loss: Rs 2,350
Wipro | CMP: Rs 312.6
On the weekly chart, Wipro has displayed a strong base formation after finding support at the 61.8% Fibonacci retracement level. The formation of higher bottoms highlights a robust bullish chart structure. The stock is currently trading at its 52-week high, reflecting strong momentum.
Strategy: Buy
Target: Rs 358
Stop-Loss: Rs 290
KFIN Technologies | CMP: Rs 1,328.7
KFIN Technologies continues its upward trajectory, forming higher tops and higher bottoms, and consistently trading above the 12-week and 26-week EMAs, reinforcing bullish momentum. The weekly MACD is in buy mode, indicating strong bullish sentiment.
Strategy: Buy
Target: Rs 1,535
Stop-Loss: Rs 1,220
Prestige Estates Projects | CMP: Rs 1888
Since 2020, Prestige Estates Projects has maintained a classical bullish chart structure, forming consistent higher tops and bottoms. Recently, the stock broke out of a channel pattern on the weekly scale, signaling a likely continuation of its upward trajectory. The RSI (Relative Strength Index) has confirmed a bullish crossover, further reinforcing the positive momentum.
Strategy: Buy
Target: Rs 2,205
Stop-Loss: Rs 1,750
Anshul Jain, Head of Research at Lakshmishree Investments & Securities
KCP | CMP: Rs 256.15
KCP is forming a classic 131-day Cup-and-Handle pattern on the daily chart, a bullish signal that has caught the attention of savvy investors. Over the last 30 trading sessions, volumes have exceeded the 50-day average, with 8 days seeing spikes of over 3x the average—a clear indicator of institutional interest. With a breakout above Rs 260, KCP is primed for a surge, potentially targeting Rs 310 in the near term. The strong volume activity and technical formation suggest significant momentum ahead, making it a stock to watch closely. As market confidence builds, the next move could deliver robust gains. Keep an eye on KCP as it approaches a pivotal moment on the charts.
Strategy: Buy
Target: Rs 310
Stop-Loss: Rs 240
Chambal Fertilisers | CMP: Rs 524
Chambal Fertilizers is making another attempt to breach the Rs 520-525 resistance zone after six failed attempts. This time, the stock is supported by a bullish Cup-and-Handle pattern on the daily chart. Rising volumes and pre-budget rally expectations add strength to the setup. A decisive breakout above Rs 525 could lead to a quick move toward Rs 545, and if the stock surpasses Rs 545, it is poised for an explosive rally toward Rs 625. The combination of strong technicals and market optimism makes Chambal Fertilizers a stock to watch closely in the coming sessions, as it inches closer to this critical zone, signaling significant upside potential for investors.
Strategy: Buy
Target: Rs 625
Stop-Loss: Rs 510
Ion Exchange | CMP: Rs 707.5
Ion Exchange is forming a 98-day flat base on the daily chart, patiently consolidating as its weekly moving averages catch up, a process that is nearly complete. Recent volume surges signal increasing institutional activity, adding strength to the technical setup. A breakout above Rs 730 could trigger significant momentum, paving the way for an immediate upside to Rs 850. This textbook consolidation pattern, coupled with rising investor interest, positions Ion Exchange as a potential outperformer in the near term. As the stock inches closer to this key resistance, it becomes a prime candidate for traders and investors seeking opportunities in strong, technically sound plays. Keep an eye on Ion Exchange for a decisive breakout in the coming sessions.
Strategy: Buy
Target: Rs 850
Stop-Loss: Rs 670
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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