The benchmark indices closed lower after a day of rally, with the Nifty 50 falling 0.4 percent amid geopolitical tensions on June 17. Market breadth was weak, as about 1,761 shares saw selling pressure compared to 828 advancing shares on the NSE. Market consolidation is expected to continue with the focus now shifting to the outcome of the US Federal Reserve meeting. Below are some short-term trading ideas to consider:
Amol Athawale, VP Technical Research at Kotak Securities
PB Fintech | CMP: Rs 1,950.1
On the daily scale, PB Fintech is trading within a rising channel formation, characterized by a higher high and higher low series. The stock has witnessed a steady recovery from trendline support levels. Additionally, the Relative Strength Index (RSI) is indicating further upside from current levels, which could boost bullish momentum in the near term. For positional traders, Rs 1,880 is the decisive level. Trading above Rs 1,880 will likely continue the uptrend toward Rs 2,080. However, if the stock closes below Rs 1,880, traders may consider exiting long positions.
Strategy: Buy
Target: Rs 2,080
Stop-Loss: Rs 1,880
Indian Bank | CMP: Rs 634
Following a strong up move, Indian Bank is currently taking a breather and has been in a consolidation phase over the last few sessions. The rangebound structure suggests a bullish continuation chart formation. Moreover, the stock has closed comfortably above its short-term moving average, indicating that it may soon resume its uptrend. For the next few sessions, Rs 610 will be the trend-deciding level. If it sustains above this level, a further move toward Rs 675 can be expected.
Strategy: Buy
Target: Rs 675
Stop-Loss: Rs 610
Persistent Systems | CMP: Rs 6,068
Persistent Systems has given a breakout from an inverse head-and-shoulders pattern on the daily charts. Sustaining above this breakout level suggests the beginning of a new leg of uptrend. As long as the stock trades above Rs 5,850, the uptrend is likely to continue, with potential upside toward Rs 6,490. On the flip side, fresh selling pressure may only emerge if the stock falls below Rs 5,850.
Strategy: Buy
Target: Rs 6,490
Stop-Loss: Rs 5,850
Nandish Shah, Senior Technical and Derivative analyst at HDFC Securities
Dee Development Engineers | CMP: Rs 289.1
The short-term trend of Dee Development Engineers remains positive, with the stock trading above its 5-, 11-, and 20-day EMAs. Since February 2025, the stock has been forming a bullish higher top–higher bottom pattern on the daily chart. Accumulation is evident, as up-day volumes have been consistently higher than down-day volumes in recent weeks. The RSI oscillator is in a rising mode and currently above 60, confirming strength in the ongoing bullish trend.
Strategy: Buy
Target: Rs 310, Rs 325
Stop-Loss: Rs 270
Zensar Technologies | CMP: Rs 875.6
Zensar Technologies has broken out from a downward sloping trendline on the daily chart with higher volumes. The stock's primary trend is positive, as it is trading above both the 100-day and 200-day EMAs. On the monthly chart, it continues to form a bullish higher top–higher bottom pattern. Momentum indicators and oscillators are reinforcing the current strong uptrend.
Strategy: Buy
Target: Rs 930, Rs 975
Stop-Loss: Rs 830
Suprajit Engineering | CMP: Rs 463.9
Suprajit Engineering has shown accumulation over the past couple of months, with volume activity increasing compared to earlier periods. The stock has been forming a bullish higher top–higher bottom pattern on the daily chart since April 2025. Momentum indicators like RSI and MFI are both in a rising mode and currently above 60, indicating a sustainable uptrend.
Strategy: Buy
Target: Rs 495, Rs 515
Stop-Loss: Rs 435
Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors
SBI Life Insurance Company | CMP: Rs 1,800.2
The financial services sector has emerged as a top performer, with SBI Life Insurance notably outperforming its peers. According to the three-candlestick rule, the prevailing trend has shifted in favour of the bulls. Recently, the stock found support at its 50-period EMA, reversed higher, and rallied over 5% in a short span, indicating that bulls are tightening their grip.
Currently, the stock is trading near its previous swing high of Rs 1,815. A breakout above this level could further fuel bullish momentum.
Strategy: Buy
Target: Rs 1,890, Rs 1,960
Stop-Loss: Rs 1,740
Supreme Industries | CMP: Rs 4,644.4
In the previous session, Supreme Industries gained nearly 2%, supported by increased volumes. On the daily chart, the stock is forming a higher high–higher low structure, keeping the trend bullish.
After breaking out of a downward sloping channel, the stock successfully retested the breakout on June 13 near Rs 4,211. Following the retest, it rallied over 11% in just three sessions. Additionally, the 50-period EMA has crossed above the 100-period EMA, confirming the bullish trend. The ADX indicator is at 43, well above the threshold of 25, indicating strong momentum.
Given the sharp recent rise, buying on dips appears to be the most prudent strategy to ride the trend.
Strategy: Buy
Target: Rs 4,820, Rs 5,050
Stop-Loss: Rs 4,450
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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