Equity benchmarks corrected after a sharp rally the previous day, falling 0.6 percent on June 23, with market breadth favouring the bears. A total of 1,408 shares declined compared to 1,216 shares that advanced on the NSE. The market is expected to continue its rangebound trading in the upcoming sessions amid the ongoing Middle East conflict. Below are some short-term trading ideas to consider:
Jigar S Patel, Senior Manager - Equity Research at Anand Rathi
Eicher Motors | CMP: Rs 5,552.5
Over the past month, Eicher Motors has witnessed a healthy correction of approximately 12% from its recent peak of Rs 5,906. Notably, the stock has established a firm base over the last 15 trading sessions, consolidating between its 50- and 100-day exponential moving averages—a sign of stabilizing price action.
In the latest session, Eicher decisively broke out of a dual descending trendline, supported by a steadily improving Relative Strength Index (RSI), which has consistently held above the 40 mark and now stands at 63. This confluence of technical indicators positions Eicher as an attractive long candidate. Traders may consider entering long positions in the Rs 5,550–5,520 zone, with an upside target of Rs 5,900.
Strategy: Buy
Target: Rs 5,900
Stop-Loss: Rs 5,350
Avenue Supermarts (DMart) | CMP: Rs 4,335.8
Following a steep decline from its recent high of Rs 4,557, DMart has entered a consolidation phase, forming a strong base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA). Notably, the stock has triggered a bullish golden crossover, with the 50-DEMA moving above the 200-DEMA—a technically significant development often interpreted as a precursor to upward momentum. Adding weight to the bullish bias, DMart has also broken out of a descending trendline, indicating a potential trend reversal. Traders may consider entering long positions in the Rs 4,350–4,300 zone, with an upside target around Rs 4,700.
Strategy: Buy
Target: Rs 4,700
Stop-Loss: Rs 4,100
Biocon | CMP: Rs 352.2
Biocon has recently established a robust base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA), signaling price stability after a period of consolidation. A golden crossover—with the 50-DEMA crossing above the 200-DEMA—further reinforces the emerging bullish sentiment.
On June 19, 2025, the stock also formed a bullish harami candlestick pattern, accompanied by a close above the R3 Camarilla monthly pivot, strengthening the technical outlook. This alignment of key indicators suggests a potential upside move. Traders may consider entering long positions in the Rs 353–348 zone, with a target of Rs 385.
Strategy: Buy
Target: Rs 385
Stop-Loss: Rs 332
Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities
Indus Towers | CMP: Rs 401.9
Indus Towers has provided a breakout from sideways consolidation with long build-up in the futures segment. Options data for the current and next series indicate that Call writers currently have the upper hand. However, if the stock price continues to rise following the breakout in the futures, further upward momentum could be led by call unwinding. On the lower side, the recent swing low will act as a crucial support level, and as long as it holds, the short-term trend will remain positive. Buy Indus Towers July Futures in the range of Rs 402–405.
Strategy: Buy
Target: Rs 418, Rs 426
Stop-Loss: Rs 389
Bharat Electronics | CMP: Rs 420.9
Bharat Electronics Futures has been trending higher with increasing volumes and long build-up in the futures segment. The stock has started to show renewed long build-up after prior long unwinding, making an upside continuation more likely. Options data indicates strong support in the Rs 400–415 range, as the Put-Call Ratio (PCR) has risen to 1.25, and the stock is trading well above its maximum pain level. Buy Bharat Electronics July Futures in the range of Rs 420–425.
Strategy: Buy
Target: Rs 455, Rs 475
Stop-Loss: Rs 405
Chambal Fertilisers and Chemicals | CMP: Rs 563.3
Chambal Fertilisers has formed a short-term base and is showing signs of short covering. The stock had corrected from Rs 700 to Rs 535 in the futures segment due to short build-up. Now, after consolidating at lower levels, it appears to be reversing. Futures data clearly indicates short covering is underway, making a long position favourable. There has been significant Call writing at higher levels, which may restrict upward movement in the current series. However, July data indicates Put additions at lower levels, suggesting higher upside probability. Buy Chambal Fertilisers July Futures in the range of Rs 568–564.
Strategy: Buy
Target: Rs 585, Rs 595
Stop-Loss: Rs 548
Vidnyan S Sawant, Head of Research at GEPL Capital
Central Depository Services | CMP: Rs 1,723.3
CDSL is exhibiting a robust price structure on the monthly chart, characterized by a series of higher bottoms, signaling long-term strength and a sustained uptrend. On the weekly scale, the stock attracted buying interest in March 2025 near the 61.8% Fibonacci retracement level of its prior rally from Rs 464 to Rs 1,989. Since then, the price has been forming a rising structure, indicating a clear continuation of the upward trend. Currently, the stock is trading well above its 12-week and 26-week EMAs, reflecting strong bullish alignment and reinforcing that market control remains firmly with the bulls.
Strategy: Buy
Target: Rs 1,982
Stop-Loss: Rs 1,620
Glenmark Pharma | CMP: Rs 1,684.8
Glenmark Pharma is displaying a strong long-term uptrend on the monthly chart, characterized by a rising price structure. In the current month, the stock has broken out of a falling channel and is now trading above its 6-month high, signaling a shift in sentiment toward the positive. The stock continues to hold above its 12-month EMA, further confirming the underlying bullish trend. On the weekly chart, it is forming a base pattern, and the MACD is in buy mode, reflecting strengthening bullish momentum and supporting a constructive outlook.
Strategy: Buy
Target: Rs 1,887
Stop-Loss: Rs 1,580
Multi Commodity Exchange of India (MCX) | CMP: Rs 8,292
MCX is exhibiting a robust price structure across timeframes. On the monthly chart, the stock continues to form a series of higher highs and higher lows, highlighting a sustained long-term uptrend. In the current month, it has broken above the December 2024 swing high, indicating a potential continuation of its upward trajectory.
The stock remains well-supported above key short-, medium-, and long-term moving averages—specifically the 12-, 26-, 50-, and 100-week EMAs—underscoring the strength of the prevailing bullish trend. Additionally, the MACD indicator is showing a pickup in bullish momentum, further validating the positive outlook.
Strategy: Buy
Target: Rs 9,515
Stop-Loss: Rs 7,694
Bharat Heavy Electricals | CMP: Rs 253.8
On the higher timeframes, BHEL is demonstrating a polarity shift, with the 2011 and 2015 swing highs now acting as a strong support zone—a level that was successfully retested in March 2025. Since then, the stock has been forming a sequence of higher highs and higher lows, reinforcing the bullish structural shift. On the weekly chart, despite broader market volatility, BHEL continues to trade firmly above its 5-week EMA, reflecting underlying strength. Moreover, the weekly MACD remains in positive territory, indicating sustained bullish momentum.
Strategy: Buy
Target: Rs 294
Stop-Loss: Rs 236
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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