Equity benchmarks saw profit booking at higher levels and closed the session with moderate losses on September 2, but the market breadth was dominated by bulls. A total of 1,737 shares gained against 1,043 shares that saw correction on the NSE. The consolidation is expected to continue as long as the frontline indices trade below short-term moving averages. Below are some short-term trading ideas to consider:
Amol Athawale, VP Technical Research at Kotak Securities
Godrej Consumer Products | CMP: Rs 1,283.8
Godrej Consumer Products has given a breakout of its symmetrical triangle chart pattern with a bullish candlestick formation, along with incremental volume activity. Additionally, on daily and weekly charts, it has formed a higher bottom series; therefore, the structure of the stock indicates further bullish momentum in the coming horizon. Unless it is trading below Rs 1,240, positional traders can retain an optimistic stance and look for a target of Rs 1,380.
Strategy: Buy
Target: Rs 1,380
Stop-Loss: Rs 1,240
Jindal Steel & Power | CMP: Rs 975.15
On the daily charts, Jindal Steel & Power is in a rising channel chart formation with a higher high and higher low series pattern. The counter witnessed a steady recovery from trendline support levels. Additionally, the technical indicator RSI is also indicating a further uptrend from current levels, which could boost bullish momentum in the near future. For positional traders, Rs 940 would be the decisive level. Trading above the same, the uptrend formation will continue till Rs 1,040. However, if it closes below Rs 940, traders may prefer to exit long positions.
Strategy: Buy
Target: Rs 1,040
Stop-Loss: Rs 940
Sobha | CMP: Rs 1,460.2
On a daily timeframe, Sobha had been in a downtrend. Therefore, it is currently in an oversold territory and available near its demand area. The texture of the chart formation and technical indicator RSI indicate that the stock is very likely to rebound for a new leg of the up move from its demand zone. For the next few trading sessions, Rs 1,405 could be the trend-decider level for the bulls. If it sustains above the same, we can expect further uptrend towards Rs 1,560.
Strategy: Buy
Target: Rs 1,560
Stop-Loss: Rs 1,405
Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors
Britannia Industries | CMP: Rs 5,891.5
The FMCG sector continued to outshine post the announcement of GST 2.0, in which Britannia is one of the top performers. In the previous session, the stock managed to close in green despite major indices falling, and now it is trading on the edge of giving a breakout of the rounding bottom pattern on the daily chart.
Also, prices have been protecting the prior day’s low on a closing basis for the past 6 trading sessions, indicating consistent buying. Along with this, KST (Know Sure Thing) has already turned above the signal line (red), and now if it trades above the zero line, it can trigger a fresh rally in the stock.
The current trend for Britannia looks positive. For now, a break above Rs 5,930 can lift prices higher towards Rs 6,160, followed by Rs 6,300.
Strategy: Buy
Target: Rs 6,160, Rs 6,300
Stop-Loss: Rs 5,700
Saregama India | CMP: Rs 491.9
In the previous session, Saregama India was up by 1.5%. Prices have managed to protect the prior day’s low for the past 4 trading sessions, indicating steady buying in the stock.
On the daily chart, the stock is currently trading in a rectangular range of Rs 467–505 since July 2025, which indicates accumulation. As of now, prices are on the verge of a breakout of the said consolidation, and a break above the upper end of the range, i.e., near Rs 505 levels, can trigger a fresh rally in the stock. Prices have just closed above the 50-day Simple Moving Average, but follow-up buying is required to confirm the breakout.
The trend for the stock looks positive. For now, a break above Rs 505 can start a fresh move on the upside towards Rs 530, followed by Rs 550.
Strategy: Buy
Target: Rs 530, Rs 550
Stop-Loss: Rs 480
Manappuram Finance | CMP: Rs 281
Manappuram Finance has been outperforming its sector and continued to follow its upward sloping trendline since February 2025. In the previous week, prices found support near the trendline and have seen a reversal of more than 8% from it. Also, prices have closed above the prior day’s high for two consecutive days, which is a positive sign.
For now, acceptance above Rs 285 is required for upward momentum to continue. Along with this, the 15-period EMA and 30-period EMA have recently witnessed a bullish crossover, which further reinforces the positive outlook for the stock.
The current trend is bullish. A break above Rs 285 can lead to a trending move towards Rs 300, followed by Rs 315.
Strategy: Buy
Target: Rs 300, Rs 315
Stop-Loss: Rs 270
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!
