The benchmark indices remained under pressure for the second consecutive session, falling nearly 1 percent on August 28, the F&O expiry day. Bears dominated market breadth with about 1,901 shares declining compared to 835 advancing shares on the NSE. A rebound may be possible after the severe sell-off, but sustainability is the level to watch given the bearish sentiment. Below are some short-term trading ideas to consider:
Jay Mehta, Technical Research at JM Financial Services
Avenue Supermarts | CMP: Rs 4,700
Avenue Supermarts (DMart) has been consolidating within a triangular pattern since April 2025, characterized by below-average trading volume, suggesting an accumulation phase. On August 18, the stock broke out above this pattern with a breakaway gap, indicating a surge in buying interest. The price is currently trading above all major Exponential Moving Averages (EMAs), supported by a notable increase in volume, which validates the breakout.
Momentum indicators display a bullish outlook, reinforcing an upward trajectory toward Rs 4,900 and Rs 5,166. A potential pullback to the Rs 4,440–4,550 support range could present a favourable entry point for buyers. The Average Directional Index (ADX) indicates sustained bullish momentum, with the DMI+ line positioned above the DMI- line.
Strategy: Buy
Targets: Rs 4,900, Rs 5,166
Stop-Loss: Rs 4,126
Kirloskar Brothers | CMP: Rs 1,985.8
Kirloskar Brothers delivered a significant breakout above a complex bullish head-and-shoulders pattern (not a classical one) on June 23 from the Rs 1,910 level, rallying to Rs 2,475 within just five trading sessions. Since then, the price has trended downward, approaching a retest of the prior breakout zone. Recently, it has established a short-term base near the 200-day EMA, which coincides with the 61.8% Fibonacci retracement of the upward move.
Additionally, the stock has broken out above a short-term triangular consolidation pattern. A robust support base is forming around the Rs 1,930–1,960 range, where the 20-day, 50-day, and 100-day EMAs converge. Momentum and trend indicators suggest a continuation of the recent upward momentum.
Strategy: Buy
Targets: Rs 2,150, Rs 2,280
Stop-Loss: Rs 1,840
Hardik Matalia, Derivative Analyst at Choice Broking
Caplin Point Laboratories | CMP: Rs 2,156.2
Caplin Point Laboratories, on the daily chart, had been moving within a parallel channel formation. Recently, it witnessed a breakout from this channel, followed by a retest, and is now showing early signs of reversal, suggesting renewed buying interest at current levels.
If the stock sustains a move above the Rs 2,200 mark, it would confirm the breakout and reversal, opening the door for further upside towards the Rs 2,400 level in the near term. Such a move would also validate the completion of the consolidation phase and signal a continuation of the broader positive trend.
Momentum indicators also support this view. The Relative Strength Index (RSI) stands at 54.76, reflecting a reversal with early signs of a positive crossover, highlighting improving momentum. Additionally, the stock has taken consistent support at its 20-day, 50-day, and 100-day EMAs and is now trading comfortably above all key moving averages, underlining strength in its overall structure.
From a price action perspective, the breakout and successful retest provide confidence that bulls are gradually regaining control. This setup offers a favourable risk-reward scenario for traders.
Strategy: Buy
Target: Rs 2,400
Stop-Loss: Rs 2,040
Engineers India | CMP: Rs 200.3
Engineers India, on the daily chart, has been trending within a falling parallel channel, reflecting a corrective phase. At present, it is on the verge of breaking out of this channel, signaling the possibility of a trend reversal.
A sustained move above the Rs 205 mark would confirm the breakout and could trigger further upside momentum. Such a move would indicate the end of the corrective phase and set the stage for a potential rally towards higher levels.
Momentum indicators also support this developing setup. The RSI stands at 42.92, showing a strong reversal from lower levels and trending upwards, which highlights improving momentum and buying interest. Furthermore, the stock has reversed from its recent swing lows and is now approaching its key moving averages. A decisive move above these moving averages would further strengthen the bullish outlook.
From a technical standpoint, the breakout from the falling channel coupled with supportive momentum suggests that bulls are gradually regaining control. This provides a favourable risk-reward opportunity for traders.
Strategy: Buy
Target: Rs 221
Stop-Loss: Rs 190
Jindal Stainless | CMP: Rs 806.5
Jindal Stainless continues to remain in a strong overall uptrend. Over the past few months, the stock underwent a wide-range consolidation phase, which helped in building a solid base. On the daily chart, this consolidation has taken the shape of a Rounding Bottom formation, a bullish continuation pattern that often precedes further upward movement.
Recently, JSL has given a strong breakout from this formation, highlighting the resumption of its bullish momentum.
If the stock manages to surpass and sustain above the Rs 820 level, it would confirm the breakout strength and could open the way for a move towards the Rs 895 mark in the near term. Such price action would reaffirm the continuation of its prevailing uptrend.
Momentum indicators also support this bullish outlook. The RSI is at 74.69 and continues to trend upwards, reflecting strong buying interest and robust momentum. Furthermore, JSL is comfortably trading above all its key moving averages — short-term, medium-term, and long-term EMAs — underlining the strength of its underlying trend.
Strategy: Buy
Target: Rs 895
Stop-Loss: Rs 765
Om Mehra, Technical Research Analyst at Samco Securities
Advanced Enzyme Technologies | CMP: Rs 324.15
Advanced Enzyme Technologies, in the latest session, posted a strong bullish candle backed by a sharp rise in volumes, indicating renewed momentum. After a period of sideways consolidation near the Rs 300 zone, the stock has staged a breakout from its recent base, reaffirming strength in the short term. The price has moved above both the 20-SMA and 50-SMA, signalling an improving outlook and positioning itself for further gains.
Momentum indicators support the bullish view. The RSI has rebounded to 54, climbing above the neutral zone and reflecting rising strength. The MACD has turned positive with a fresh crossover, confirming the shift in momentum toward the upside. The breakout zone near Rs 315–320 now acts as a strong support base.
Strategy: Buy
Target: Rs 352
Stop-Loss: Rs 308
FSN E-Commerce Ventures Nykaa | CMP: Rs 233.84
Nykaa continued its upward momentum, advancing and registering its third consecutive positive close. The stock has broken past the consolidation band around Rs 220, confirming a clean breakout that now turns this zone into a strong support base. Sustained trading above the 20-SMA (Rs 216) and Supertrend support adds strength to the prevailing uptrend.
The RSI has climbed to 70, showing positive momentum without divergence. The MACD is in a positive crossover, with the histogram expanding steadily, further validating the breakout strength.
The higher-high formation and steady volume alongside the rise in price indicate a strengthening trend.
Strategy: Buy
Target: Rs 248
Stop-Loss: Rs 223
Endurance Technologies | CMP: Rs 2,859.70
Endurance Technologies is forming a strong bullish candle that adds weight to its emerging cup and handle pattern on the daily chart. The stock has been consolidating above the 20-SMA and 50-SMA while also maintaining a firm hold above the Supertrend support, indicating strength in the medium-term uptrend.
The RSI has climbed to 64, and the MACD is skewed to the higher side. Volume remains steady alongside the price increase. A breakout above the Rs 2,900–2,930 neckline would confirm the pattern, potentially unlocking further upside.
Strategy: Buy
Target: Rs 3,060
Stop-Loss: Rs 2,745
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
