Equity benchmarks remained under bears' control for another session, with the Nifty 50 falling 0.3 percent on November 6, with market breadth dominated by bears. A total of 2,163 shares were backed by bears, while 684 shares gained on the NSE. The market is expected to weaken further given that the index traded below short-term moving averages. Below are some short-term trading ideas to consider:
Jay Mehta, Technical Research at JM Financial Services
Dabur India | CMP: Rs 523.7
After a 17 percent drop from its September 4 high, Dabur has formed a base and reclaimed all key EMAs. Tuesday’s session saw it cross above the 200-day EMA with robust volume, signaling strong buying interest, alongside a breakout from a triangular consolidation. The RSI at 60.3 has surpassed prior swing highs, showing momentum strength. The stock has retraced above the 38.2 percent Fibonacci level of the recent decline, weakening the downtrend.
Strategy: Buy
Target: Rs 540, Rs 550
Stop-Loss: Rs 498.6
Adani Ports and Special Economic Zone | CMP: Rs 1,436.8
Adani Ports recently broke out above a bullish head-and-shoulders pattern with a volume surge. Post-breakout, it retraced into the pattern, finding support at the 50-day EMA with a spinning top, followed by a strong green candle. It’s now forming another spinning top near the breakout zone. The bias remains positive, trading above upward-sloping key EMAs. The RSI at 55 has held support at 50 multiple times. A move above Rs 1,486 will accelerate the rally.
Strategy: Buy
Target: Rs 1,567, Rs 1,635
Stop-Loss: Rs 1,386
Tata Consumer Products | CMP: Rs 1,190.4
Tata Consumer Products was in a rounding pattern since April 30, 2025. Recently, it broke out above the April 30 high and the pattern, backed by rising volume and participation. The price trades above all key EMAs with upward slopes, reflecting intrinsic strength. The RSI and momentum indicators signal bullishness. Tuesday saw selling pressure but a bounce from near the 50-day EMA, indicating buying interest. A break above Rs 1,200 will fuel further upside.
Strategy: Buy
Target: Rs 1,288, Rs 1,324
Stop-Loss: Rs 1,101
Om Mehra, Technical Research Analyst at Samco Securities
Can Fin Homes | CMP:Rs 877.6
Can Fin Homes has completed a breakout from a saucer pattern and continues to maintain a higher-high, higher-low formation, reflecting a firm uptrend. The stock is trading comfortably above all key moving averages, indicating sustained strength in the ongoing rally.
The breakout zone near Rs 835 now acts as strong support, while the recent candles show steady follow-through buying. The RSI remains elevated at 71 without signs of exhaustion, and the MACD stays in positive territory. The overall setup suggests the possibility of continued upward movement if the stock sustains above its immediate support zone.
Strategy: Buy
Target: Rs 915
Stop-Loss: Rs 845
PI Industries | CMP: Rs 3,750.1
PI Industries has given a breakout from a falling trendline, accompanied by a noticeable rise in volumes. The stock has reclaimed short-term moving averages, indicating a shift in momentum after a prolonged consolidation phase.
The RSI has moved up sharply to 65 with a positive slope, suggesting improving strength, while the MACD has confirmed a bullish crossover for the first time in several weeks. The breakout from a contracting pattern reflects renewed buying interest, with immediate support now placed near Rs 3,640. Sustaining above this level could pave the way for further upside in the near term.
Strategy: Buy
Target: Rs 3,970
Stop-Loss: Rs 3,630
Hitesh Tailor, Research Analyst at Choice Broking
Biocon | CMP: Rs 385.2
Biocon is forming a wide-range ascending triangle pattern, indicating a potential bullish breakout on the upside. The stock recently found strong support at lower levels and bounced back sharply, reflecting renewed buying interest and bullish strength. It is trading comfortably above its key moving averages — 20, 50, and 200 EMA — which confirms a sustained rising trend and reinforces the positive sentiment.
The RSI is placed at 76.05 on the daily chart, showing strong momentum and suggesting the continuation of the uptrend. A breakout above the upper boundary of the pattern could further accelerate the upside move.
Strategy: Buy
Target: Rs 425
Stop-Loss: Rs 365
Titan Company | CMP: Rs 3,774.4
Titan Company has bounced sharply from its double-bottom range. The stock is on the verge of a breakout above the strong resistance zone around Rs 3,800–Rs 3,850 levels. The stock recently took support near its 20-day EMA, placed around Rs 3,680, and bounced back, indicating strong buying interest at lower levels. It continues to trade above all key moving averages — 20, 50, and 200 EMA — highlighting a strong bullish structure and potential for an upward breakout.
The RSI stands at 63.42 on the daily chart, suggesting the continuation of the rising trend with healthy momentum. On the upside, immediate resistance is placed at Rs 3,800; a decisive break and sustain above this level could trigger further bullish momentum towards higher targets.
Strategy: Buy
Target: Rs 4,050
Stop-Loss: Rs 3,630
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.
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