Equity benchmark indices remained in a bear trap throughout the session after a gap-down opening, falling 0.8 percent on July 11. Bears were also dominant in the market breadth, with about 1,775 shares under pressure compared to 854 advancing shares on the NSE. Consolidation is expected to continue in the upcoming sessions until the frontline indices trade above their short-term moving averages. Below are some short-term trading ideas to consider:
Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities
Hubtown | CMP: Rs 308.75
On the daily and weekly charts, Hubtown has experienced a short-term trend reversal, trending higher and forming a series of higher tops and bottoms. On the daily chart, the stock has confirmed a rounding bottom breakout at Rs 290 on a closing basis. Significant volume suggests increased participation. The stock is trading well above its 20-, 50-, 100-, and 200-day SMAs, reaffirming the bullish trend. The RSI on daily, weekly, and monthly timeframes indicates rising strength. Additionally, a weekly Bollinger Band buy signal points to increasing momentum.
Strategy: Buy
Target: Rs 335, Rs 365
Stop-Loss: Rs 290
Thyrocare Technologies | CMP: Rs 1,085.45
On the weekly chart, Thyrocare has confirmed a breakout above a multiple resistance zone at Rs 1,058 on a closing basis, indicating a positive bias. Strong volumes highlight growing investor interest. The stock is positioned above its 20-, 50-, and 100-day SMAs, all of which are gradually moving higher along with the price, confirming bullish strength. The RSI across daily, weekly, and monthly timeframes indicates improving momentum. A daily Bollinger Band buy signal further supports the bullish view.
Strategy: Buy
Target: Rs 1,185, Rs 1,300
Stop-Loss: Rs 1,040
EID Parry India | CMP: Rs 1,152.4
EID Parry is in a strong uptrend, forming a consistent pattern of higher tops and bottoms, confirming a sustained uptrend across all timeframes. On the weekly chart, the stock has surpassed a multiple resistance zone at Rs 1,013, indicating bullish sentiment. The daily chart also shows a breakout from a flag formation at Rs 1,130, suggesting continued positive bias. The stock is trading above its 20-, 50-, and 100-day SMAs, all of which are rising alongside the price, reinforcing the bullish outlook.
Strategy: Buy
Target: Rs 1,230, Rs 1,340
Stop-Loss: Rs 1,100
Rajesh Bhosale, Technical Analyst at Angel One
JSW Infrastructure | CMP: Rs 317
On the weekly chart, JSW Infrastructure has confirmed a breakout from an Inverse Head and Shoulders bullish reversal pattern. The recent bullish gap, which has held firmly, may be a breakaway gap—a strong sign of trend reversal. The weekly RSI has crossed above the 60 level and is aligning with its previous swing high, indicating strong momentum. The price action is well-supported by key moving averages, reinforcing the positive bias and supporting a bullish view.
Strategy: Buy
Target: Rs 337
Stop-Loss: Rs 307
Rallis India | CMP: Rs 343.55
After facing resistance around the Rs 335 mark three times over the past seven months, Rallis India has finally broken out above this critical level, forming a Cup and Handle bullish pattern. The breakout is accompanied by rising volumes and strong bullish candlesticks, lending conviction to the move. The stock is trading well above key moving averages, reinforcing the positive outlook and supporting a buy recommendation.
Strategy: Buy
Target: Rs 370
Stop-Loss: Rs 329
Anshul Jain, Head of Research at Lakshmishree Investment
Asahi India Glass | CMP: Rs 851.7
Asahi India has broken out of a 192-day Inverse Head and Shoulders pattern, with volume increasing both on the approach to the neckline and during the breakout—a strong indication of genuine buying interest.
After a low-volume pullback, the stock delivered follow-through momentum with renewed volume expansion, strengthening the case for a sustained upmove towards the Rs 1,000 mark. Momentum indicators, along with bullish alignment of the 10-, 20-, and 50-day EMAs, suggest the breakout has further upside potential.
Strategy: Buy
Stop-Loss: Rs 810
Target: Rs 1,000
Piramal Enterprises | CMP: Rs 1,217.5
Piramal Enterprises has broken out of a 23-day Pennant pattern on the daily chart, supported by strong volume—a clear sign of buyer presence and renewed bullish sentiment. The breakout level at Rs 1,180 marks a significant shift in momentum, paving the way for a potential sharp rally towards the Rs 1,400 zone in the near term. With increasing momentum and volume confirming the breakout, the stock appears well-positioned. Traders are advised to trail their stop-losses to protect profits while capitalizing on the move.
Strategy: Buy
Target: Rs 1,400
Stop-Loss: Rs 1,160
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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