Trade Spotlight: How should you trade Siemens, Torrent Pharma, Info Edge, Mphasis, Max Financial Services, and others on December 5?

Top Buy Ideas for December 5

The benchmark indices rebounded after witnessing a correction in the previous four sessions, falling nearly 0.2 percent on December 4 with subdued market breadth. A total of 1,637 shares declined against 1,206 advancing shares on the NSE. The market is expected to remain rangebound until it trades below record high levels. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

KPIT Technologies | CMP: Rs 1,269.8

KPIT Technologies broke out above a descending channel on December 1 but faced resistance at the 200-day EMA until the latest session, when it breached and sustained above it. On the 75-minute chart, a bullish pole-and-pennant pattern has formed.

Positive volume significantly exceeded average while negative volume stayed below average, confirming a healthy trend. Daily and weekly RSI are in bullish territory and rising. The short-to-medium-term structure remains bullish with clear higher highs and higher lows.

Strategy: Buy

Target: Rs 1,350, Rs 1,400

Stop-Loss: Rs 1,190

Siemens | CMP: Rs 3,362.5

Siemens broke out above a triangular consolidation on December 2 with strong above-average volume, reflecting solid participation. The price trades above all short- to long-term moving averages, all sloping upward. Recent consolidation near the 200-day EMA now acts as firm support.

Daily and weekly RSI remain bullish and trending higher. The short-to-medium-term structure remains bullish with clear higher highs and higher lows.

Strategy: Buy

Target: Rs 3,573, Rs 3,800

Stop-Loss: Rs 3,130

Torrent Pharma | CMP: Rs 3,795.7

Torrent Pharmaceuticals was consolidating in a tight Rs 3,670–3,778 range near the 20-day EMA and forming a triangular pattern on lower timeframes. The latest session saw a clear breakout above this range.

All key EMAs are below the price and rising. RSI holds above 50 with repeated support at that level. The recent pullback occurred on below-average volume, indicating a healthy retracement. The short-to-medium-term structure remains bullish with clear higher highs and higher lows.

Strategy: Buy

Target: Rs 3,900, Rs 4,000

Stop-Loss: Rs 3,670

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

Info Edge India | CMP: Rs 1,396.20

Info Edge is showing a technically bullish shift on the daily chart, as the stock has posted a clean breakout above a descending-triangle resistance line after an extended period of range compression. The pattern was formed by a series of lower highs against a well-defined flat support around the Rs 1,300–1,320 area, creating clear price compression before the upside resolution.

The breakout candle cleared the descending trendline with a visible pickup in volume, adding conviction to the move. The price has also reclaimed and is trading around the 50-day area, indicating a short-term momentum tilt in favour of buyers.

Momentum indicators have turned constructive, with the RSI rising into the upper 50s, signalling improving strength without immediate overbought readings.

Strategy: Buy

Target: Rs 1,520

Stop-Loss: Rs 1,335

Ipca Laboratories | CMP: Rs 1,454.60

Ipca Laboratories has delivered a decisive breakout above the multi-month descending trendline, marking a structural shift from a corrective phase to an emerging bullish trend. The stock witnessed a sharp, volume-backed breakout candle, confirming genuine buying participation behind the move.

Following the breakout, price action has entered a tight, controlled consolidation just above the broken trendline — a classic post-breakout retest-and-absorption zone, indicating that supply is getting absorbed and buyers are defending higher levels.

The price is comfortably holding above the 200-day moving average, reinforcing the transition into a stronger trend. The RSI has climbed to 59–60, reflecting improving momentum with ample headroom for further expansion. The contracting range after the breakout suggests energy buildup for the next leg higher, maintaining a bullish undertone.

Strategy: Buy

Target: Rs 1,578

Stop-Loss: Rs 1,385

Hitesh Tailor, Technical Research Analyst at Choice Broking

Dr Lal PathLabs | CMP: Rs 3,054.1

Dr Lal PathLabs has been consolidating within a sideways range, indicating a phase of accumulation. The stock is taking strong support near the 200-day EMA, which also aligns with its previous swing support zone, signifying renewed buying interest at lower levels. The latest daily candle reflects clear bullish intent, forming after a firm rebound from the 200-day EMA, suggesting that the stock is attempting to resume its upward trajectory.

On the upside, immediate resistance is placed near Rs 3,080. A decisive breakout and sustained move above this level, especially with strong volumes, may trigger the next leg of upside momentum.

Short-term traders may consider initiating positions at current levels with a stop-loss at Rs 2,925 and a potential target of Rs 3,280.

Strategy: Buy

Target: Rs 3,280

Stop-Loss: Rs 2,925

Mphasis | CMP: Rs 2,908.4

Mphasis continues to display notable strength after a sharp upside rally over the past 12 trading sessions. The stock has taken strong support at recent lows and has steadily moved higher, reflecting sustained buying interest. It has also broken above a key trendline resistance and closed above it, indicating potential for further bullish momentum.

On the upside, immediate resistance is placed near Rs 2,920; a breakout and sustained move above this level with strong volumes may confirm continuation of the uptrend. On the downside, immediate support lies near Rs 2,800, which aligns with the 20-day EMA — an area where accumulation remains visible.

The stock trades firmly above the 20-, 50-, and 200-day EMAs, reinforcing its positive trend structure. Additionally, the RSI at 73.81 suggests strong bullish momentum.

Strategy: Buy

Target: Rs 3,100

Stop-Loss: Rs 2,800

Max Financial Services | CMP: Rs 1,689.4

Max Financial Services has recently broken out of a sideways range, successfully retesting the breakout level, which coincides with strong support near the 20-day EMA. This setup indicates renewed strength and potential continuation of the ongoing uptrend.

The stock continues to trade above key 20-, 50-, and 200-day EMAs, reinforcing the bullish structure and suggesting further upside momentum. The RSI at 52.97 reflects healthy momentum, indicating room for the trend to continue without being overextended.

Overall, the technical setup points to a strong accumulation phase and a favourable environment for the next leg of the uptrend.

Strategy: Buy

Target: Rs 1,820

Stop-Loss: Rs 1,620