The market rebounded after a day of sharp correction, with the Nifty 50 closing 0.4 percent higher amid rangebound trading on May 14. Market breadth remained positive for the third consecutive session, with 1,992 shares witnessing buying interest against 615 shares that were under pressure on the NSE. Market sentiment is expected to remain positive. Below are some short-term trading ideas to consider:
Rupak De, Senior Technical Analyst at LKP Securities
Deepak Fertilisers & Petrochemicals Corporation | CMP: Rs 1,336
Deepak Fertilisers has recently broken out from a flag pattern, signaling growing optimism among investors. This breakout follows a significant pattern breakout on the daily timeframe, indicating a robust bullish formation. The price is trending higher after finding support at the 50-day exponential moving average (50 EMA), a key indicator for identifying potential buy points.
The chart exhibits an ascending pattern, with the price forming higher highs and higher lows on the daily timeframe, suggesting a continuation of the upward trend. Overall, the stock appears poised to move northwards, with a potential target around Rs 1,440. A support level is observed at Rs 1,290; a decline below this level could weaken the bullish outlook.
Strategy: Buy
Target: Rs 1,440
Stop-Loss: Rs 1,290
Hindustan Copper | CMP: Rs 231.8
A meaningful reversal signal is evident on the daily chart. Following a significant correction, the stock appeared somewhat oversold. The recent rise above the falling trendline has placed the stock on a stronger footing. The stock price may continue to move higher in the short term, provided it does not fall below Rs 218. One may consider initiating a buy call on the counter with a price target of Rs 250. A stop-loss can be placed below Rs 218 for better risk management.
Strategy: Buy
Target: Rs 250
Stop-Loss: Rs 218
Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan
Persistent Systems | CMP: Rs 5,758.5
The stock has been in a pullback mode over the last couple of trading sessions. It has now reached the support cluster in the Rs 5,650–5,700 range and has formed a Hammer candlestick pattern on the hourly charts. The hourly momentum indicator is showing signs of revival from the equilibrium line, which is a bullish signal. We expect the stock to resume its upward move.
Strategy: Buy
Target: Rs 5,955, Rs 6,000
Stop-Loss: Rs 5,650
PVR INOX | CMP: Rs 965.65
PVR INOX has retraced 61.82 percent of the Fibonacci retracement of the previous five-wave rise and has witnessed buying interest. Prices have closed above the key short-term moving averages, and the daily momentum indicator has triggered a positive crossover, which is a buy signal. We expect the stock to start a fresh leg of upmove.
Strategy: Buy
Target: Rs 1,034
Stop-Loss: Rs 915
Sudeep Shah, Deputy Vice President and Head of Technical and Derivative Research at SBI Securities
NBCC India | CMP: Rs 106.75
NBCC has witnessed a breakout from an Inverse Head and Shoulders pattern, a classic bullish reversal formation. This breakout is validated by a surge in volume well above its 50-day average, indicating strong participation and conviction behind the move. Adding further credibility, a prominent bullish candle was formed on the breakout day, reinforcing the strength of the pattern.
Post-breakout, the stock is trading comfortably above both its short-term and long-term moving averages, which are aligned in a rising trajectory — a sign of sustained upward momentum. Moreover, the daily RSI has entered bullish territory and continues to trend higher, suggesting strengthening momentum and increasing buying interest. Hence, we recommend accumulating the stock in the Rs 107–106 zone.
Strategy: Buy
Target: Rs 115
Stop-Loss: Rs 102
IRCON International | CMP: Rs 172.81
IRCON has broken out of a 58-day consolidation phase on the daily chart, signaling the potential beginning of a new upward trend. The breakout was accompanied by exceptionally strong volume — over three times the 50-day average — highlighting significant buying interest from market participants. While the 50-day average volume stands at 65.20 lakh shares, Wednesday’s session saw a surge to 221.46 lakh shares, reinforcing the strength of the breakout.
Additionally, the stock has decisively moved above its 20-day and 50-day EMAs, both of which have begun to slope upward — a technically bullish development. Notably, the daily RSI has crossed above the 60 level for the first time since December 2024, suggesting strengthening momentum and renewed bullish sentiment. Hence, we recommend accumulating the stock in the Rs 173–171 range.
Strategy: Buy
Target: Rs 185
Stop-Loss: Rs 165
Jindal Steel and Power | CMP: Rs 943.2
Nifty Metal emerged as the top-performing sectoral index on Wednesday, posting a gain of 2.5 percent. A majority of its constituents ended in the green, reflecting broad-based strength within the sector. Notably, Jindal Steel & Power stood out by delivering a breakout above a downward sloping trendline on the daily chart, which is a bullish sign. This breakout was supported by the highest trading volume since February 28, 2025, indicating robust buying interest from market participants.
Adding to the positive setup, the stock is trading above both its short- and long-term moving averages. Furthermore, the daily RSI has also broken out of its own trendline resistance, reinforcing the strength of the bullish momentum and supporting the likelihood of continued upward movement. Hence, we recommend accumulating the stock in the Rs 945–935 range.
Strategy: Buy
Target: Rs 1010
Stop-Loss: Rs 910
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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