The benchmark indices maintained an upward continuation pattern, with the Nifty 50 closing over half a percent higher on November 20 despite subdued market breadth. A total of 1,582 shares declined against 1,247 advancing shares on the NSE. The market is expected to march toward a record high in the upcoming sessions, despite likely intermittent consolidation. Below are some short-term trading ideas to consider:
Jay Mehta, Technical Research at JM Financial Services
HDFC Life Insurance Company | CMP: Rs 762.2
HDFC Life traded within a sloping channel from August 18, 2025, before breaking out decisively with strong volume, reflecting solid participation. Post-breakout, the price retraced into the pattern, finding support at the 20- and 50-day EMAs. Wednesday formed a doji, followed by a strong bullish reversal hammer candle in the latest session. A firm base was established around the 200-day EMA over nearly 14 sessions. Multiple indicators confirm continued bullish momentum. The risk–reward setup looks highly favourable at current levels.
Strategy: Buy
Target: Rs 790, Rs 812
Stop-Loss: Rs 730
Tata Communications | CMP: Rs 1,917.4
Tata Communications is emerging from a falling channel after a healthy 10% correction from its recent swing high, accompanied by low-volume monthly consolidation. The stock is holding firmly above the 50-day EMA, taking support at the 20-day EMA, and trending higher. RSI at 59 shows a positive crossover, signalling rising momentum. A move above Rs 1,960 should accelerate the uptrend. It has an attractive setup at current levels.
Strategy: Buy
Target: Rs 2,050, Rs 2,150
Stop-Loss: Rs 1,805
Dhupesh Dhameja, Derivatives Research Analyst at Samco Securities
Jubilant Ingrevia | CMP: Rs 724.25
Jubilant Ingrevia has given a clear breakout from a symmetrical triangle pattern on the daily chart, indicating a shift in momentum after a prolonged phase of consolidation. The triangle was formed by a series of lower highs and higher lows, showing price compression before the eventual breakout. The breakout candle has closed decisively above the upper trendline, confirming the pattern resolution. Price has also reclaimed the 200-day EMA (Rs 700 zone), strengthening the structural trend and turning it into a solid demand area.
Momentum has picked up, with the RSI rising to over 62, reflecting improving strength and supporting the breakout’s validity. The overall technical alignment—triangle breakout, strong closing, regained long-term moving average, and bullish RSI—signals a constructive outlook toward Rs 790, while a close below Rs 690 would negate the bullish setup.
Strategy: Buy
Target: Rs 790
Stop-Loss: Rs 690
Bajaj Auto | CMP: Rs 8,979.5
Bajaj Auto is forming a bullish ascending channel on the daily chart, with price consistently respecting both the upper and lower trendlines for the past several months. Within this larger rising channel structure, the stock has recently developed a symmetrical triangle consolidation, positioned near the mid-upper band of the channel. This combination signals bullish continuation within a larger uptrend.
The price is holding above the 200-day EMA (Rs 8,710) and stabilizing above the 50-day EMA, indicating strong long-term and medium-term trend health. The recent candles show tightening price action near the triangle’s upper boundary, suggesting a buildup of momentum for a potential breakout. The RSI at 55 is turning upward from neutral zones, indicating improving momentum while still having plenty of room before becoming overbought.
Volume contraction during consolidation also confirms a classic symmetrical triangle setup.
Strategy: Buy
Target: Rs 9,350
Stop-Loss: Rs 8,820
Hitesh Tailor, Research Analyst at Choice Broking
KEI Industries | CMP: Rs 4,167.3
KEI has recently corrected to Rs 3,856 before witnessing a strong rebound. The stock has taken solid support near Rs 3,850, which aligns with the 200-day EMA on the daily chart, indicating accumulation and renewed buying interest at lower levels.
On the upside, immediate resistance is placed at Rs 4,200; a decisive break and sustained move above this zone could pave the way for further bullish momentum. The stock continues to trade above key 20-, 50-, and 200-day EMAs, reinforcing its positive trend structure. Additionally, the weekly chart maintains a higher-high and higher-low formation, highlighting sustained strength.
Strategy: Buy
Target: Rs 4,550
Stop-Loss: Rs 3,950
Cummins India | CMP: Rs 4,375.7
Post-breakout above Rs 4,171.90 and hitting a record high of Rs 4,495, Cummins India consolidated within a range and successfully retested the breakout zone, which has now turned into a strong support area. The stock is currently attempting to break out of this sideways consolidation, indicating renewed buying interest and accumulation at lower levels, reflecting potential strength for further upside. It continues to trade above key 20-, 50-, and 200-day EMAs, reinforcing the positive trend structure.
RSI is at 59.5, supporting the continuation of the current upward momentum. On the upside, immediate resistance lies near Rs 4,400; a decisive break and sustained move above this level could propel the stock toward Rs 4,700–4,750.
Strategy: Buy
Target: Rs 4,750
Stop-Loss: Rs 4,180
Tech Mahindra | CMP: Rs 1,456
Tech Mahindra is now on the verge of a sideways range breakout. The stock has also given a wide-range falling trendline breakout, indicating improving momentum. On the upside, immediate resistance lies at Rs 1,560–1,575; a break and sustained move above this zone could trigger a strong upward trend and confirm a bullish breakout.
On the downside, recent accumulation and buying interest near lower levels highlight strong demand and reinforce support. Sector-specific buying is also contributing positively to the stock’s sentiment.
From an indicator perspective, RSI is showing a bullish divergence and is close to breaking out from its sideways phase, further signalling strength and potential for upward continuation.
Strategy: Buy
Target: Rs 1,580
Stop-Loss: Rs 1,380
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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