The benchmark indices closed with gains of one-tenth of a percent amid rangebound trading on July 1. The market breadth was largely neutral, with around 1,327 shares witnessing selling pressure versus 1,314 shares that gained on the NSE. The frontline indices are expected to see further consolidation in upcoming sessions before potentially entering a new leg of the uptrend. Below are some short-term trading ideas to consider:
Amol Athawale, VP Technical Research at Kotak Securities
SBI Life Insurance Company | CMP: Rs 1,862.5
After a remarkable up move in recent weeks, SBI Life Insurance has entered a consolidation phase near its resistance zone. Despite this, the stock closed comfortably above its short-term moving average. Additionally, the closing near its resistance zone on the daily chart suggests a bullish continuation chart structure, indicating that the uptrend may persist. Rs 1,790 could be the trend-deciding level for bulls. If the stock sustains above this level, a further uptrend toward Rs 1,990 is likely.
Strategy: Buy
Target: Rs 1,990
Stop-Loss: Rs 1,790
Jindal Steel & Power | CMP: Rs 951.3
Jindal Steel & Power has shown a robust rally from lower levels in recent sessions. Following this upward movement, the stock has formed a consolidation structure, suggesting a bullish continuation pattern. Moreover, it has closed above its short-term moving average. For positional traders, Rs 915 is decisive. If the stock trades above this level, the uptrend may continue towards Rs 1,020. A close below Rs 915, however, may prompt traders to exit long positions.
Strategy: Buy
Target: Rs 1,020
Stop-Loss: Rs 915
Cipla | CMP: Rs 1,515.7
Following a strong uptrend, Cipla is currently trading within a symmetrical triangle chart pattern on the daily scale, which suggests continued bullish momentum in the short term. Additionally, the stock has formed a higher bottom on the weekly chart, indicating strength and potential for a fresh breakout.
As long as the stock remains above Rs 1,475, the bullish structure is likely to continue, with an upside target of Rs 1,590.
Strategy: Buy
Target: Rs 1,590
Stop-Loss: Rs 1,475
Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors
Federal Bank | CMP: Rs 218.72
Federal Bank is outperforming within the private sector banking space. In the previous session, the stock gave a breakout from a rounding bottom pattern, closing above the neckline at Rs 217 and reaching a new lifetime high of Rs 219.45. Over the past eight trading sessions, the stock has consistently protected its prior candle’s low, indicating sustained buying interest.
Additionally, Bollinger Bands are beginning to expand, suggesting that strong momentum may continue. The MACD has also shown a bullish crossover, confirming a positive outlook. Post a sharp rally, buying on dips appears to be a prudent approach.
Strategy: Buy
Target: Rs 230
Stop-Loss: Rs 210
Gujrat Mineral Development Corporation | CMP: Rs 420.35
GMDC is forming higher highs and higher lows, indicating a bullish structure. Since June 20, the stock has consistently held above its prior day’s low on a closing basis, which is a positive sign. Throughout the rally that began in May 2025, prices have held above the mid-Bollinger band, making it an important support level. The mid-band support lies at Rs 401.
Currently trading near the upper band, a decisive breakout above Rs 430 could extend the rally toward Rs 451, followed by Rs 465. The ADX indicator is at 34 (above 25), confirming strong positive momentum.
Strategy: Buy
Target: Rs 451, Rs 465
Stop-Loss: Rs 409
CESC | CMP: Rs 176.45
In the previous session, CESC closed above its prior day’s high with a notable increase in volume—an encouraging sign. The stock recently dipped toward the Ichimoku cloud and channel support, then rebounded sharply, rallying more than 9% in a short span—suggesting bulls are regaining control.
The stock is currently near its previous swing high around Rs 177. A decisive breakout above this level could trigger further bullish momentum toward Rs 184, followed by Rs 191. The RSI remains moderate, suggesting room for further upside.
Strategy: Buy
Target: Rs 184, Rs 191
Stop-Loss: Rs 170
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
Jubilant Foodworks | CMP: Rs 709.75
Jubilant Foodworks has been in a sustainable uptrend over the past few weeks, forming a bullish pattern of higher tops and bottoms. The stock is now attempting a decisive breakout above a downward-sloping trendline in the Rs 700–710 zone. Both volume patterns and daily/weekly RSI indicators suggest a positive outlook.
Strategy: Buy
Target: Rs 780
Stop-Loss: Rs 670
Carborundum Universal | CMP: Rs 997.15
The stock seems to have ended its recent downtrend after forming a strong bottom reversal at Rs 915. It is now showing a sustainable bounce and is attempting an upside breakout above the descending trendline at Rs 985, as seen on the weekly chart. Volume and RSI patterns indicate additional upside potential. The overall chart structure signals a long trading opportunity.
Strategy: Buy
Target: Rs 1,105
Stop-Loss: Rs 940
Kolte-Patil Developers | CMP: Rs 492.4
After several weeks of narrow-range trading, Kolte Patil Developers witnessed a decisive upside breakout on Tuesday and closed higher. The stock is forming a broader bullish pattern of higher tops and bottoms on the weekly chart. It recently rebounded from the immediate support of the 10-day EMA.
Volume expansion during the breakout, coupled with positive signals from both daily and weekly RSI indicators, suggests continued upside potential.
Strategy: Buy
Target: Rs 543
Stop-Loss: Rs 468
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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