Trade Spotlight: How should you trade HDFC Life Insurance, Mastek, Dalmia Bharat, JK Cement, Lodha Developers, and others on January 21?

Top Trading Ideas for January 21

• Experts pick top 9 trading ideas for January 21 including HDFC Life, Mastek, Dalmia Bharat, JK Cement, Lodha Developers

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The benchmark indices were caught in a bear trap, with the Nifty 50 falling 1.38 percent on January 20. Market breadth was heavily dominated by bears, with about 2,552 shares declining against 388 rising shares on the NSE. The market may consolidate with a negative bias after decisively breaking below the previous week’s low. Below are some short-term trading ideas to consider:

Amol Athawale, VP Technical Research at Kotak Securities

Britannia Industries | CMP: Rs 5,884

After the short-term correction in Britannia from higher levels, the downward momentum has stalled and the stock has entered a consolidation phase over the last few sessions. Moreover, the stock is trading near its important demand zone.

The structure suggests a revival of the uptrend from current levels in the near future. For traders, Rs 5,660 would be the key support level to watch. Above this level, the uptrend structure could continue towards Rs 6,300.

Strategy: Buy

Target: Rs 6,300

Stop-Loss: Rs 5,660

Oil and Natural Gas Corporation | CMP: Rs 240.39

After the sharp up move over the last couple of sessions, ONGC witnessed profit booking from higher levels. However, closing near the important retracement zone and the short-term moving average suggests a bullish continuation chart structure. Therefore, the stock is likely to resume its uptrend in the coming sessions.

For the next few trading sessions, Rs 232 could be the trend-decider level for the bulls. If the stock sustains above this level, a further uptrend towards Rs 257 can be expected.

Strategy: Buy

Target: Rs 257

Stop-Loss: Rs 232

HDFC Life Insurance Company | CMP: Rs 732.1

On the daily timeframe, HDFC Life has been in a downtrend. Therefore, it is currently in oversold territory and is trading near its demand area. The texture of the chart formation and the RSI indicate that the stock is likely to rebound for a new leg of the up move from its demand zone.

For positional traders, Rs 705 would be the decisive level. Trading above this level, the uptrend formation may continue towards Rs 785. However, if the stock closes below Rs 705, traders may prefer to exit long positions.

Strategy: Buy

Target: Rs 785

Stop-Loss: Rs 705

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

Mastek | CMP: Rs 2,223.8

On the daily chart, Mastek has been trending higher for the past one week and has outperformed broader market indices by consistently closing above the previous day’s high over the last three trading sessions, highlighting underlying strength. The stock has already confirmed a breakout from a triangle pattern on the daily chart, which is a positive technical development.

Additionally, the Bollinger Bands have begun to expand, indicating an increase in volatility. For now, a sustained move above Rs 2,245 is required for bullish momentum to continue, which could drive prices towards the prior swing high zone of Rs 2,370–2,400, as long as the Rs 2,150 level remains protected on the downside.

Strategy: Buy

Target: Rs 2,370, Rs 2,400

Stop-Loss: Rs 2,150

Dalmia Bharat | CMP: Rs 2,191.4

Dalmia Bharat has been forming a Cup and Handle pattern since October 2025. In the previous session, the stock gained over 1.5 percent and managed to close near the neckline around the Rs 2,200 level. A sustainable breakout above this zone could pave the way for a fresh rally. The stock continues to form higher highs and higher lows, indicating positive price action.

Additionally, the consistent green histogram following a bullish crossover of the MACD provides double confirmation of the bullish outlook. For now, a decisive move above Rs 2,220 may trigger fresh buying interest, which can push prices towards Rs 2,400, the first target as per the length of the handle. On the downside, the Rs 2,110 level is expected to act as key support.

Strategy: Buy

Target: Rs 2,400

Stop-Loss: Rs 2,110

JK Cement | CMP: Rs 5,891.5

In the previous session, JK Cement gained 1.84 percent, supported by the highest trading volumes seen since September 19, 2025. The stock has consistently held above the prior day’s low for the last five trading sessions, indicating buying from lower levels. Since November 2025, JK Cement has been trading within a rectangular range of Rs 5,361–6,030, suggesting a phase of accumulation.

In the previous session, prices attempted a breakout from this range but failed to close above it. The RSI is currently hovering near 55, indicating the absence of a strong trending move. For now, a decisive breakout above Rs 6,030 could trigger fresh upside momentum towards the Rs 6,450 level, with Rs 5,790 acting as an important support.

Strategy: Buy

Target: Rs 6,450

Stop-Loss: Rs 5,790

Aditya Thukral, Founder & Analyst of AT Research & Risk Managers

Delhivery | CMP: Rs 384.85

Delhivery exhibited a box pattern, and a breakdown from this pattern was witnessed on January 12, accompanied by rising volumes. The stock is consistently trading below all its major exponential moving averages, namely the 10-day, 20-day, 50-day, and 200-day EMAs, all of which are sloping downwards. An established downtrend is evident, marked by the formation of lower highs and lower lows. Additionally, the stock has recorded its lowest close since July 3, 2025.

A continuation of the downtrend is expected following the breakdown from the box pattern. Any minor bounce towards the previous support level of Rs 391 will act as a selling opportunity, as prior supports have turned into resistances. Sell Delhivery Futures on a rise around Rs 391, with a stop-loss at Rs 398, targeting Rs 377 over the next two weeks.

Strategy: Sell

Target: Rs 377

Stop-Loss: Rs 398

Suzlon Energy | CMP: Rs 46.34

Suzlon entered a correction phase after forming a top around the Rs 86 level on September 12, 2024. The stock is consistently trading below all its major exponential moving averages—10-day, 20-day, 50-day, and 200-day EMAs—and has established a clear downtrend with the formation of lower highs and lower lows. Additionally, the stock has closed at its lowest level since June 6, 2024.

With prices now moving towards the targets of a bearish flag pattern on the daily chart, and the breakdown occurring with rising volumes, the pace of the downtrend is accelerating due to falling trendlines. This presents a short-selling opportunity in the futures segment.

Any minor bounce towards the previous support level of Rs 47.50 should be used as a selling opportunity, as it has now turned into resistance. Sell Suzlon Futures on a rise around Rs 47.50, with a stop-loss at Rs 48.60, targeting Rs 45.20 and Rs 43.50 over the next two weeks.

Strategy: Sell

Target: Rs 45.20, Rs 43.50

Stop-Loss: Rs 48.60

Lodha Developers | CMP: Rs 979.3

Lodha has confirmed a medium-term downtrend with the break of the swing low of Rs 1,035.15, formed during the previous corrective leg. The stock is witnessing another leg of correction after forming a top near Rs 1,530. It is consistently trading below all its major exponential moving averages—10-day, 20-day, 50-day, and 200-day EMAs—all of which are sloping downward. The short-term downtrend has now extended into a medium-term downtrend, marked by lower highs and lower lows. Additionally, the stock has recorded its lowest close since December 29, 2023.

The realty sector has remained under pressure and has been one of the biggest losers during the ongoing correction, underperforming for several months. A continuation of the downtrend is expected in this realty stock, given the established medium-term downtrend. Any minor bounce towards the previous support level of Rs 1,003 should be used as a selling opportunity, as prior supports have turned into resistances. Sell Lodha Futures on a rise around Rs 1,003, with a stop-loss at Rs 1,051, targeting Rs 926 over the next three weeks.

Strategy: Sell

Target: Rs 926

Stop-Loss: Rs 1,051