Equity benchmarks closed flat with a positive bias after hitting a fresh record high, with the Nifty 50 rising just 10 points on November 27. However, market breadth turned negative. About 1,520 shares saw selling pressure compared to 1,318 shares that advanced on the NSE. The market is expected to see consolidation until it convincingly surpasses Thursday's high. Below are some short-term trading ideas to consider:
Hitesh Tailor, Research Analyst at Choice Broking
Jamna Auto Industries | CMP: Rs 114.25
Jamna Auto has shown strong bullish momentum. The stock has reclaimed all key moving averages, indicating a clear shift in trend from consolidation to strength.
The recent candles show higher highs and higher lows, confirming improving sentiment and steady accumulation. Volume has also picked up, supporting the upward price action.
The stock had been under pressure earlier, but a decisive breakout above the 104–110 EMA cluster now acts as a strong support zone. Sustaining above this band keeps the near-term structure positive.
On the upside, resistance is seen around Rs 123–125, where the stock previously paused. A breakout above this zone can open the gates for further momentum with potential to test higher levels.
Strategy: Buy
Target: Rs 125
Stop-Loss: Rs 107
Azad Engineering | CMP: Rs 1,696.7
Azad Engineering is showing a steady bullish structure, with a strong bounce from its rising trendline support. The stock continues to hold above all key EMAs, indicating ongoing strength and sustained accumulation.
Recent candles show higher lows forming consistently along the trendline, reflecting continued buying interest on dips. The EMAs are aligned positively, with price staying comfortably above the Rs 1,625–1,655 support cluster, keeping the near-term trend firmly intact. Volume remains stable, supporting the constructive price action.
Sustaining above the Rs 1,670–1,700 zone strengthens the bullish outlook. On the upside, resistance is seen around Rs 1,840–1,850, where the stock previously faced selling pressure. A breakout above this zone can unlock further momentum and shift the trend into a stronger upward trajectory.
Strategy: Buy
Target: Rs 1,850
Stop-Loss: Rs 1,615
Mahindra and Mahindra Financial Services | CMP: Rs 363.65
Mahindra Finance is showing strong bullish momentum after an aggressive breakout from its multi-month consolidation zone. The stock is comfortably trading above all key EMAs, confirming a clear shift in trend and strong buying interest.
Recent candles show a series of higher highs and higher lows, supported by rising volume, indicating sustained accumulation and solid follow-through buying.
After months of sideways movement, the stock has entered a strong trending phase, and sustaining above the Rs 350–355 zone keeps the upside intact. Momentum remains firm as long as the price holds these levels.
On the upside, resistance is seen around Rs 386–390, where the stock may face some profit-booking. A breakout above this range could extend the rally further and push the stock into a fresh higher zone.
Strategy: Buy
Target: Rs 390
Stop-Loss: Rs 350
Dhupesh Dhameja, Derivatives Research Analyst at Samco Securities
ICICI Bank | CMP: Rs 1,392.2
ICICI Bank is showing range breakout attempts on the daily chart as the price moves above the short-term consolidation band near Rs 1,385–1,390. After a corrective decline, the stock has successfully reclaimed its 50-day moving average, signalling a shift in near-term momentum. The 200-day moving average, positioned around Rs 1,368, continues to act as a major demand zone and has supported the recent rebound.
Price has also held strongly above the previous swing support at Rs 1,350, forming a higher-low structure that adds further strength to the base formation. The RSI has turned upward and is currently near 57, indicating improving momentum with room for continuation.
Strategy: Buy
Target: Rs 1,500
Stop-Loss: Rs 1,340
Cummins India | CMP: Rs 4,449.4
Cummins India continues to showcase strong price action as it attempts a fresh breakout above its immediate resistance zone near Rs 4,410–4,420. The stock has been in a steady, well-defined uptrend, consistently forming higher highs and higher lows. After a brief consolidation, price has regained upside momentum and is now trading firmly above the 20-day EMA, reflecting strong short-term strength.
The consolidation just below resistance formed a tight bullish base, indicating healthy accumulation before the breakout. Momentum indicators support the up-move, with the RSI climbing to 62, showing rising bullish momentum without overextension.
Strategy: Buy
Target: Rs 4,860
Stop-Loss: Rs 4,240
Mahindra Lifespace Developers | CMP: Rs 416.1
Mahindra Lifespace is displaying a strong bullish structure on the daily chart as the stock delivers a clean breakout above the multi-month resistance zone near Rs 400–405. This breakout comes after a prolonged consolidation phase, forming a broad accumulation base that indicates steady buying interest at lower levels. Price has also crossed and sustained above both the 50-day EMA and the 200-day EMA, signalling a shift from a corrective trend into a well-defined uptrend.
The breakout candle is supported by higher volume, reinforcing the validity of the move. Momentum indicators are turning favourable, with the RSI rising to 65, reflecting strengthening bullish momentum with room for further extension.
Strategy: Buy
Target: Rs 458
Stop-Loss: Rs 395
Arun Kumar Mantri, Founder of Mantri FinMart
Siemens | CMP: Rs 3,312.1
Siemens has given a falling trendline breakout on the daily charts, with the price trading above short-term major moving averages. The price has broken out above the Rs 3,240 level, and notable volumes in recent sessions indicate increasing traction in the counter.
The Bollinger Band (20,2) is also trading in comfortable zones, with RSI and MACD signalling bullish momentum on both the daily and weekly timeframes. The next resistance for the price is around Rs 3,500–3,550 from a short-term perspective.
Strategy: Buy
Target: Rs 3,545
Stop-Loss: Rs 3,211
Bajaj Finserv | CMP: Rs 2,103.2
Bajaj Finserv is on the verge of breaking out from short-term price consolidation and an “Inverted Head & Shoulder” pattern on the daily charts. There is also a strong reflex area on the charts, with good price and volume action crossing the mid-band of the Bollinger Bands and now moving towards the upper band.
Among the leading indicators, Parabolic SAR and Heiken Ashi candlesticks indicate a positive trend on both the daily and weekly charts. The MACD indicator has also managed to cross above the zero level from below, showing early signs of a bullish move that may take the stock price toward Rs 2,200-plus levels in the near term.
Strategy: Buy
Target: Rs 2,231
Stop-Loss: Rs 2,052
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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