Equity benchmarks shrugged off the Israel-Iran conflict and gained nearly 1 percent on June 16, snapping a two-day fall. The market breadth was slightly positive, with 1,366 shares advancing and 1,232 shares declining on the NSE. The market is likely to maintain a positive bias in the upcoming session. Below are some short-term trading ideas to consider:
Jigar S Patel, Senior Manager - Equity Research at Anand Rathi
Route Mobile | CMP: Rs 1,062.2
Recently, Route Mobile broke out after nearly a month of consolidation, accompanied by a significant surge in volume—indicating strong accumulation. This consolidation phase is notable as it occurred within the R3–S3 zone of the monthly Camarilla pivots, establishing an Inside Value relationship. This setup forms when the current month’s pivots are nested within the previous month’s range, often signaling a potential breakout with strong directional bias.
Adding to the bullish case, the daily RSI (Relative Strength Index) has consistently held above the 60 level and is now positioned at 64, reflecting strengthening momentum. Traders may consider entering long positions in the Rs 1,065–Rs 1,050 zone.
Strategy: Buy
Target: Rs 1,180
Stop-Loss: Rs 995
Biocon | CMP: Rs 357.3
Biocon recently broke out of a consolidation zone between Rs 330–345 and is now trading well above it, signaling renewed strength. On the monthly floor pivot, an Inside Value relationship between May and June (R1–S1) suggests potential for an explosive move.
The breakout was supported by a volume surge and a breach of the short-term falling trendline, reinforcing bullish sentiment. Additionally, the RSI held steady in the 40–50 range during consolidation and now hovers around 65. Traders may consider entering long positions in the Rs 358–Rs 353 zone.
Strategy: Buy
Target: Rs 390
Stop-Loss: Rs 337
Swiggy | CMP: Rs 360.95
Swiggy recently broke out of a falling channel and touched Rs 376, indicating bullish momentum. Over the past five sessions, it has seen mild correction but found support at the monthly R3 Camarilla pivot. Notably, the stock had consolidated between R3 and S3 pivots from March to May, a setup that often precedes strong directional moves. This technical structure suggests potential for further upside. Traders may consider entering long positions in the Rs 363–Rs 355 zone.
Strategy: Buy
Target: Rs 390
Stop-Loss: Rs 340
Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities
Kotak Mahindra Bank | CMP: Rs 2,139
Kotak Mahindra Bank recently provided a breakout from a multi-year consolidation and has now witnessed long build-up, suggesting that the short- to medium-term outlook for the stock is positive.
Although the stock has a higher Call base at Rs 2,160, it has witnessed Call unwinding at almost all other strikes, increasing the probability of an upside. It is trading well above its maximum pain and modified maximum pain levels, which suggests a positive short-term outlook. Traders may consider buying Kotak Bank Futures in the Rs 2,150 to Rs 2,130 range.
Strategy: Buy
Targets: Rs 2,200, Rs 2,250
Stop-Loss: Rs 2,090
Apollo Hospitals Enterprise | CMP: Rs 7,114
Apollo Hospitals Enterprise seems to be breaking its range on the upside, supported by long additions in the futures, indicating a higher probability of upward movement.
Although the stock has high Call bases from Rs 7,100 to Rs 7,300, with a maximum at Rs 7,200, Call unwinding at lower levels, coupled with Put additions and a range breakout on the upside, may trigger short covering in the Calls, leading to further upward momentum. The stock is trading well above its maximum pain and modified maximum pain levels. Traders may initiate long positions in the Rs 7,140 to Rs 7,110 range.
Strategy: Buy
Target: Rs 7,300, Rs 7,400
Stop-Loss: Rs 7,000
Tata Consultancy Services | CMP: Rs 3,496.3
The Nifty IT index has bounced back significantly over the past couple of months and has even outperformed the Nifty Bank, indicating overall strength in the near term. TCS witnessed short build-up in its previous fall, and there has not been much short covering in TCS yet. With the bounce-back in the index, the stock is likely to witness short covering until it manages to hold on to Rs 3,390.
It is trading above its maximum pain and modified maximum pain levels, which increases the probability of further upside. Traders may buy TCS Futures in the Rs 3,510 to Rs 3,500 range.
Strategy: Buy
Target: Rs 3,650, Rs 3,700
Stop-Loss: Rs 3,390
Vidnyan S Sawant, Head of Research at GEPL Capital
SJS Enterprises | CMP: Rs 1,252.8
SJS is demonstrating a robust price structure on the monthly chart, marked by a series of higher bottoms, indicating long-term strength. On the weekly scale, the stock witnessed buying interest near the 61.8% Fibonacci retracement level of its prior upmove from Rs 537 to Rs 1,347. Notably, the March 2025 retracement support aligned with the 100-week EMA, highlighting a bullish mean reversion setup.
Following this support, the stock has resumed its upward trajectory, respecting the prevailing uptrend with consistent follow-through. It is currently trading well above the 12-week and 26-week EMAs, underscoring a strong bullish alignment and reinforcing that market control remains with the bulls.
Strategy: Buy
Target: Rs 1,457
Stop-Loss: Rs 1,180
Caplin Point Laboratories | CMP: Rs 2,095.7
Caplin Point is exhibiting a strong long-term uptrend on the monthly chart, marked by higher tops and bottoms. In May 2025, it confirmed a breakout above a two-month long wick candlestick pattern, signaling follow-through strength. The stock has remained above its 12-month EMA since May 2023, reinforcing the bullish trend.
On the weekly chart, it is forming a base pattern, while the MACD is in buy mode with a rising histogram, indicating building bullish momentum and a constructive outlook.
Strategy: Buy
Target: Rs 2,443
Stop-Loss: Rs 1,960
Oberoi Realty | CMP: Rs 1,928.9
Oberoi Realty has broken out of a four-month consolidation and is sustaining above its 26-month EMA, signaling trend continuation. It has rebounded from the 50% Fibonacci level with bullish mean reversion from the 100-week EMA. Supported by the 20- and 50-day EMAs, the MACD in buy mode confirms strong momentum.
Strategy: Buy
Target: Rs 2,238
Stop-Loss: Rs 1,814
Fertilizers and Chemicals Travancore (FACT) | CMP: Rs 1,037.85
FACT has been exhibiting robust momentum across timeframes, consistently forming higher tops and higher bottoms. On the weekly chart, it has formed a double bottom pattern, followed by a sustained upward move. On the daily scale, the stock has recently retested a falling trendline drawn from June 2024, further reinforcing its bullish outlook.
Strategy: Buy
Target: Rs 1,245
Stop-Loss: Rs 964
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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