The market extended its gains for the sixth consecutive session, with the Nifty closing 0.17 percent higher on April 22. Bulls continued to dominate, as reflected in the advance-decline ratio. A total of 1,657 shares saw buying interest compared to 938 shares that corrected on the NSE. The positive momentum is expected to persist in the upcoming sessions, despite potential consolidation. Below are some trading ideas for the near term:
Amol Athawale, VP Technical Research at Kotak Securities
Praj Industries | CMP: Rs 528.4
After a decline from higher levels, Praj Industries rebounded from its demand zone and has witnessed a steady recovery. On the daily charts, the counter has formed a higher low formation. The gradual upward movement suggests the beginning of a new bullish leg from current levels.
Strategy: Buy
Target: Rs 565
Stop-Loss: Rs 510
Lupin | CMP: Rs 2,046.7
Lupin has given a breakout from its symmetrical triangle chart pattern with a strong bullish candlestick. Additionally, it has formed a higher bottom formation on both daily and weekly charts, indicating a continuation of bullish momentum. Unless the stock trades below Rs 1,970, positional traders can maintain an optimistic outlook and aim for a target of Rs 2,180.
Strategy: Buy
Target: Rs 2,180
Stop-Loss: Rs 1,970
Sunteck Realty | CMP: Rs 402.8
Following a downtrend, Sunteck Realty has entered an accumulation zone and is currently trading in a rangebound manner on the daily chart. Recent bullish activity indicates growing strength. A breakout from the current range could trigger bullish momentum, offering a favourable risk-reward setup.
Strategy: Buy
Target: Rs 430
Stop-Loss: Rs 385
Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors
Aarti Industries | CMP: Rs 434.15
Aarti Industries has protected the previous day's low on a closing basis for the last eight sessions, highlighting strength in the ongoing trend. The Supertrend indicator recently turned green, supporting the bullish view. The stock has also broken out of a downward-sloping channel with rising volumes, offering double confirmation.
Furthermore, the KST (Know Sure Thing) indicator has crossed above the signal line, and a move above the zero line could further fuel momentum. The trend remains bullish. A break above Rs 445 can extend the rally toward Rs 463, followed by Rs 480, as long as Rs 426 remains protected on the downside.
Strategy: Buy
Target: Rs 463, Rs 480
Stop-Loss: Rs 426
Phoenix Mills | CMP: Rs 1,682.3
The realty sector has been one of the top performers lately, contributing to the Nifty's rally. Phoenix Mills has been consistently outperforming its peers, gaining 4.5 percent in the previous session. The stock recently found support at its upward-sloping trendline and reversed higher, now trading near its previous swing high of Rs 1,705. A breakout above this level could strengthen the bullish trend.
In the last session, the stock closed above the Ichimoku cloud for the first time since February 2025. However, follow-up buying is essential to confirm the breakout. A decisive move above Rs 1,705 could push the stock toward Rs 1,780, followed by Rs 1,850. On the downside, Rs 1,630 remains the nearest support.
Strategy: Buy
Target: Rs 1,780, Rs 1,850
Stop-Loss: Rs 1,630
Choice International | CMP: Rs 562.75
Choice International continues to inch higher with each session. In the last session, it reached a fresh high of Rs 570. The stock is following a simple bar technique—since April 11, each candle has closed above the prior day's high, reflecting sustained bullish sentiment. It is also forming a rounding bottom pattern on the daily chart. A decisive breakout above the neckline at Rs 570 would confirm the pattern and could accelerate positive momentum. The trend remains bullish. A breakout above Rs 570 can lead to targets of Rs 590 and Rs 615, with a stop-loss at Rs 545.
Strategy: Buy
Target: Rs 590, Rs 615
Stop-Loss: Rs 545
Nandish Shah, Senior Technical and Derivative Analyst at HDFC Securities
APL Apollo Tubes | CMP: Rs 1,621.6
APL Apollo Tubes has broken out on the daily chart from a downward-sloping trendline connecting the highs of May 22, 2024, and January 21, 2025, closing at its highest level since June 2024. Momentum indicators such as the Money Flow Index (MFI) and Relative Strength Index (RSI) are sloping upwards and are above 60, indicating strength in the ongoing bullish trend.
Strategy: Buy
Target: Rs 1,730, Rs 1,800
Stop-Loss: Rs 1,540
Pennar Industries | CMP: Rs 197.1
Pennar Industries has broken out on the daily chart to close at its highest level since January 2, 2025. During the recent correction, the stock found support at its 100-week EMA and reversed upwards. The primary trend remains positive, with the stock trading above its 200-day EMA. It has been forming a bullish higher top-higher bottom pattern on the monthly chart. Momentum indicators and oscillators reflect continued strength in the uptrend.
Strategy: Buy
Target: Rs 210, Rs 222
Stop-Loss: Rs 183
Gujarat Alkalies and Chemicals | CMP: Rs 662.45
Accumulation has been observed in Gujarat Alkalies over the past few days, with average volume on up days exceeding that of down days. The short-term trend is positive, as the stock is trading above its 11-day and 20-day EMAs. On the daily line chart, the stock has broken out to close at its highest level since February 7, 2025. The RSI is sloping upwards and is positioned above 60 on the daily chart, indicating continued strength in the current uptrend.
Strategy: Buy
Target: Rs 710, Rs 745
Stop-Loss: Rs 610
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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