Equity benchmarks gained for the first time in the last four consecutive sessions, with the Nifty 50 rising 0.3 percent on November 10, but the market breadth was weak. About 1,532 shares declined against 1,333 advancing shares on the NSE. The market is expected to remain within the previous week’s range. Below are some short-term trading ideas to consider:
Jigar S Patel, Senior Manager - Equity Research at Anand Rathi
Hindustan Zinc | CMP: 484.6
Hindustan Zinc has corrected nearly 12.5% from its recent peak, finding strong support near its 200 DEMA — a crucial long-term moving average that often acts as a trend decider. Interestingly, the stock has formed a bullish engulfing pattern at this support zone, suggesting a potential reversal in momentum after the recent decline.
On the hourly chart, a bullish divergence is evident on the MACD indicator, indicating that downside momentum is weakening and buyers may be regaining control. The confluence of these signals points towards a short-term trend reversal and potential upside in the coming sessions. Technically, sustaining above the Rs 470–475 zone could open the door for a rally towards the Rs 525 level, which coincides with near-term resistance. On the flip side, a decisive close below Rs 449 would negate the bullish view and invite renewed weakness. Traders may consider entering long positions in the Rs 485–480 zone.
Strategy: Buy
Target: Rs 525
Stop-Loss: Rs 460
Steel Authority of India | CMP: Rs 144.34
SAIL has witnessed a decisive breakout on the weekly chart, accompanied by a sharp surge in volumes, indicating strong buying interest and renewed momentum. This breakout signals the end of a consolidation phase and the beginning of a potential upward trend.
Supporting this view, the weekly MACD has made a bullish crossover above the zero line, confirming a strengthening positive bias. The alignment of volume expansion, price breakout, and bullish MACD crossover suggests that the stock is poised for further upside movement. Hence, SAIL can be considered a buy from a medium-term trading perspective. Traders may consider entering long positions in the Rs 146–143 zone.
Strategy: Buy
Target: Rs 162
Stop-Loss: Rs 136
Nippon Life India Asset Management | CMP: Rs 891
NAM India has formed a double bottom pattern near the 50-day exponential moving average (DEMA), which also aligns with the Ichimoku cloud support, indicating a strong base at current levels. This confluence of support zones strengthens the possibility of a trend reversal. Additionally, a bullish divergence on the hourly MACD suggests that downside momentum is fading and buying strength is emerging.
The combination of these technical factors — structural support, pattern formation, and momentum divergence — signals a bullish setup, hinting at the potential for an upward move in the coming sessions. Traders may consider entering long positions in the Rs 895–885 zone.
Strategy: Buy
Target: Rs 965
Stop-Loss: Rs 850
Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities
Multi Commodity Exchange of India | CMP: Rs 9,530.5
MCX has been consolidating in the range of Rs 9,600–9,000 for the past couple of trading sessions. However, the stock has witnessed long build-up in the recent run-up, which makes a good case for a long trade as it is well supported by rising volumes as well as momentum.
The options data indicates that the stock has witnessed significant Put additions at the lower levels, and beyond the Rs 9,500 strike, there is no major hurdle until the Rs 10,000 level. Hence, it has good upside potential in the near term. The stock is trading well above its 20-day VWAP (volume-weighted average price) of Rs 9,250 as well as its maximum pain level of Rs 9,300. These levels will act as short-term support for the stock. Hence, buy MCX Futures in the range of Rs 9,540–9,570.
Strategy: Buy
Target: Rs 9,800, Rs 9,900
Stop-Loss: Rs 9,390
Indian Hotels | CMP: Rs 703.8
Indian Hotels Company has broken down the range on the lower side with an increase in open interest, indicating short build-up, which is a bearish sign in the near term. The stock’s options data is widely spread across strikes, with a major Call base at the Rs 750 level, which is a near-term resistance.
The stock is trading well below its maximum pain level of Rs 720 as well as below its VWAP level of Rs 724, so these levels will act as short-term resistance. Until these are surpassed, the short-term trend will remain negative. Sell Indian Hotels Futures in the range of Rs 703–707, with a stop-loss of Rs 730, targeting Rs 670 and Rs 655.
Strategy: Sell
Target: Rs 670, Rs 655
Stop-Loss: Rs 730
Union Bank of India | CMP: Rs 154.24
Overall, Nifty PSU Banks have been in upward momentum and are outperforming private sector banks. Union Bank of India, too, has been forming higher tops and bottoms, with an increase in open interest in the futures segment indicating long build-up. Hence, the short-term outlook is positive.
As per the options data, there have been significant Put additions at the lower levels — Rs 140 to Rs 150 strikes — and there has been Call unwinding in this range as well. Hence, this zone will now act as an immediate support range. The stock is trading well above its VWAP level of Rs 146 as well as its maximum pain level of Rs 150. Hence, the near-term outlook is positive. Buy Union Bank Futures in the range of Rs 152–156.
Strategy: Buy
Target: Rs 162, Rs 165
Stop-Loss: Rs 146
Vidnyan S Sawant, Head of Research at GEPL Capital
Bank of India | CMP: Rs 145.94
Bank of India has exhibited a robust multi-year breakout from a Cup & Handle pattern formed since 2017 during the October series. Following the breakout, the stock has continued to form higher highs and higher lows, accompanied by rising volume activity.
On the daily scale, it has also broken out of a seven-day narrow consolidation range, signaling renewed momentum. The MACD indicator is trending higher, indicating acceleration in the ongoing bullish momentum.
Strategy: Buy
Target: Rs 158
Stop-Loss: Rs 140
Bharat Heavy Electricals | CMP: Rs 273.35
BHEL has been showing signs of resuming its upward trend. On the weekly scale, the stock witnessed a breakout in October 2025 from the sloping trendline drawn from the July 2024 swing high, supported by strong volume activity.
The momentum indicator MACD remains in buy mode on the weekly chart, reinforcing the positive bias. On the daily scale, the stock has also registered a breakout from a four-day retracement phase, indicating renewed bullish momentum.
Strategy: Buy
Target: Rs 293
Stop-Loss: Rs 262
FSN E-Commerce Ventures Nykaa | CMP: Rs 260.8
Since March 2025, Nykaa has been on an upward trajectory, consistently forming higher tops and higher bottoms. A statistical observation of its ongoing trend reveals that during this upmove, the stock typically experiences an average price-wise retracement of around 8–9% before resuming its positive momentum.
Recently, the stock completed a similar retracement phase and witnessed a strong rebound accompanied by a surge in volume, exceeding its 20-day average. On the weekly scale, the 12-week EMA continues to act as a key bullish mean reversion level, reinforcing the ongoing uptrend and supporting the likelihood of sustained positive momentum in the sessions ahead.
Strategy: Buy
Target: Rs 282
Stop-Loss: Rs 250
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.
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!
