Equity benchmarks finished the session off the day's high, with the Nifty 50 erasing over 200 points in gains before ending with marginal gains on October 24, with subdued market breadth. A total of 1,651 shares declined compared to 1,196 advancing shares on the NSE. The market is expected to be rangebound with a positive bias. Below are some short-term trading ideas to consider:
Jay Mehta, Technical Research at JM Financial Services
Motherson Sumi Wiring India | CMP: Rs 47.67
Motherson Sumi Wiring was in a prolonged consolidation pattern from October 2024 to September 2025. In September 2025, it achieved a strong breakout, reaching a high of Rs 50.55. Subsequently, it experienced profit-taking, retracing to retest the breakout neckline with notably low volume during the pullback. Recent sessions show renewed buying strength from the breakout zone, accompanied by increasing volume. Momentum and trend indicators support a bullish outlook.
Strategy: Buy
Target: Rs 50, Rs 53
Stop-Loss: Rs 43
Kansai Nerolac Paints | CMP: Rs 255.45
Kansai Nerolac Paints broke out of a descending channel and entered a symmetrical triangle, recently breaking above the triangle pattern. Significant volume buildup since August 11, 2025, along with high delivery percentages in recent sessions, indicates strong accumulation at lower levels. The stock is trading above key EMAs, with momentum and trend indicators aligning with a bullish bias.
Strategy: Buy
Target: Rs 265, Rs 274
Stop-Loss: Rs 241
Brigade Enterprises | CMP: Rs 997.8
Brigade Enterprises corrected approximately 34% from its June 2025 high of Rs 1,332, forming a base in the Rs 880–980 zone, where it established a double bottom pattern. Additionally, the RSI exhibited double positive divergence, forming higher lows. Recently, both price and RSI broke out above their respective ranges, supported by a surge in positive volume and strong delivery percentages. Momentum and trend indicators are consistent with a bullish bias.
Strategy: Buy
Target: Rs 1,050, Rs 1,075
Stop-Loss: Rs 960
Om Mehra, Technical Research Analyst at Samco Securities
Oil and Natural Gas Corporation | CMP: Rs 252.3
ONGC has given a strong breakout above a declining trendline, supported by a noticeable rise in volumes. The stock has also reclaimed the previous resistance zone of Rs 245–246, which now acts as strong support. A triple-bottom pattern near Rs 230, along with multiple bullish crossovers among key moving averages, reinforces the ongoing uptrend. The RSI has risen to 70 with a steady upward slope, reflecting sustained momentum. The short-term moving averages are now aligned positively, indicating continued upward momentum.
Strategy: Buy
Target: Rs 266
Stop-Loss: Rs 244
Mahanagar Gas | CMP: Rs 1,301.8
Mahanagar Gas has been forming a rounded base pattern over the past few weeks, signaling a gradual accumulation phase. The stock is holding firm above the 9-, 20-, and 50-EMA. A reversal was observed after the recent doji formation near the Rs 1,270 level, which now acts as key support. The RSI has recovered to 51, showing that momentum is improving, while the MACD line is inching closer to a bullish crossover. The setup indicates steady improvement with the potential for a breakout if momentum sustains above current levels.
Strategy: Buy
Target: Rs 1,365
Stop-Loss: Rs 1,270
Tube Investments of India | CMP: Rs 3,206.4
Tube Investments of India has resumed its upward momentum after consolidating for several sessions and has formed a strong bullish candle on the daily chart. The stock continues to maintain a higher-high, higher-low formation, reaffirming the ongoing trend. The 9-EMA has crossed above the 20-EMA, indicating a short-term bullish shift and improving momentum. The RSI has climbed to 55 with an upward slope. The recent rise from the ascending trendline support highlights renewed strength for the coming sessions.
Strategy: Buy
Target: Rs 3,440
Stop-Loss: Rs 3,125
Hardik Matalia, Derivative Analyst at Choice Broking
Vedanta | CMP: Rs 483.25
Vedanta has recently broken out of an ascending triangle pattern on the daily timeframe — a bullish continuation formation that signals strength in the ongoing trend. Following the breakout, the stock has successfully retested the breakout zone and is now showing clear signs of reversal, supported by a noticeable increase in trading volumes, which adds conviction to the breakout.
A sustainable move above Rs 490 would further confirm the bullish momentum and could lead to continued upside in the coming sessions. The RSI, currently at 63.43, is trending upward with a positive crossover, indicating strengthening momentum and growing buying interest. Moreover, Vedanta is comfortably trading above all its key moving averages, reinforcing the bullish bias and signalling a favourable structure for further gains.
Strategy: Buy
Target: Rs 525
Stop-Loss Rs 463
JB Chemicals and Pharmaceuticals | CMP: Rs 1,708.8
JB Chemicals has been consolidating within a defined range for some time, indicating a phase of accumulation. On the daily chart, the stock is forming a falling wedge pattern, which typically signals a potential bullish reversal. It is now on the verge of breaking out from this formation, and a sustainable move above Rs 1,730 would confirm the breakout, paving the way for further upside momentum.
The RSI, currently at 57.90, is displaying a strong upward trajectory, reflecting improving momentum and growing buying interest. Additionally, JB Chemicals has successfully surpassed all its key moving averages, reinforcing the bullish setup and indicating a shift in sentiment toward the positive side.
Strategy: Buy
Target: Rs 1,845
Stop-Loss: Rs 1,645
Ramco Cements | CMP: Rs 1,046.65
After witnessing a decline from its recent peak, Ramco Cements had been moving within a declining channel pattern on the daily chart. In recent sessions, it has successfully given a breakout from this channel, signalling the potential start of a bullish phase. If the stock manages to hold above the breakout zone, it could attract further buying interest and extend its upward momentum.
The RSI, currently at 57.27, is trending higher on the daily timeframe, reflecting strengthening momentum and increasing buying participation. Moreover, Ramco Cements has rebounded strongly from its support zones and has now surpassed all its key moving averages, reinforcing a positive trend setup.
Strategy: Buy
Target: Rs 1,130
Stop-Loss: Rs 1,005
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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