The benchmark indices failed to extend the previous day's rally further due to profit-taking, with the Nifty 50 ending the session with a 98-point loss on August 12. The market breadth was largely equal, with about 1,392 shares declining against 1,306 advancing shares on the NSE. The index is expected to consolidate until it decisively breaks the previous week's range on either side for a firm direction. Below are some short-term trading ideas to consider:
Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors
TBO Tek | CMP: Rs 1,445.4
On the daily chart, TBO Tek is currently trading in a rectangular range of Rs 1,310 to Rs 1,460 levels since May 2025, which indicates accumulation. As of now, prices are on the verge of a breakout from the said consolidation, and a break above the upper end of the range, i.e., near Rs 1,460 levels, can trigger a fresh course of rally in the stock.
Along with this, the 50-period EMA (Exponential Moving Average) and 100-period EMA have recently witnessed a bullish crossover, which further reinforces the positive outlook for the stock. For now, a break above Rs 1,460 levels can start a fresh move on the upside towards Rs 1,520, followed by Rs 1,560 levels.
Strategy: Buy
Target: Rs 1,520, Rs 1,560
Stop-Loss: Rs 1,400
CreditAccess Grameen | CMP: Rs 1,301.9
On the daily chart, CreditAccess Grameen has been moving in accordance with its upward-sloping trendline since March 2025, which has proven to act as a prudent support previously. On August 7, prices found support at this level, which is also an Ichimoku cloud support, and we saw a sharp reversal on the upside of more than 9%, which is a sign of strength in the ongoing trend.
Moreover, since then, prices have consistently managed to protect their prior day’s low on a closing basis, which keeps the overall daily bias on the side of the bulls. As of now, a decisive break above the baseline (red) of the Ichimoku cloud indicator can further boost positive momentum towards its previous swing high of Rs 1,400 levels.
The current trend for CreditAccess Grameen has shifted to the side of the bulls. For now, a break above Rs 1,310 levels can lift the prices higher towards Rs 1,360, followed by Rs 1,400 levels.
Strategy: Buy
Target: Rs 1,360, Rs 1,400
Stop-Loss: Rs 1,260
Multi Commodity Exchange of India | CMP: Rs 8,151.5
On the daily chart, MCX has been moving within its downward-sloping channel since July 2025. In the previous session, prices gave a decisive break above the said channel, which highlights that bulls have started to get active in the stock. As of now, prices have managed to retrace 38.2% of the fall that started in July 2025, and now, with follow-up buying, prices can retrace up to 50% of the fall, which comes near Rs 8,350 levels. Moreover, MACD has just witnessed a bullish crossover, which acts as a double confirmation for our stance.
MCX has just witnessed a breakout. For now, a break above Rs 8,230 levels is a must for this trending move to continue towards Rs 8,475, followed by Rs 8,720 levels.
Strategy: Buy
Target: Rs 8,475, Rs 8,720
Stop-Loss: Rs 7,985
Amol Athawale, VP Technical Research at Kotak Securities
HCL Technologies | CMP: Rs 1,499.1
Post its declining trend, HCL Technologies reversed from its important support zone. The stock has formed a rounding bottom chart pattern on the daily scale, and it is in a steady up move. The technical indicator like RSI is also indicating further uptrend from current levels, which could boost the bullish momentum in the coming horizon. As long as the stock is trading above Rs 1,440, the bullish texture is likely to continue, above which, the counter could move up to Rs 1,600.
Strategy: Buy
Target: Rs 1,600
Stop-Loss: Rs 1,440
Maruti Suzuki India | CMP: Rs 12,840
On the daily charts, Maruti Suzuki was trading in a rangebound mode for the past many sessions. However, it has given a range breakout along with good volumes. In addition, the counter has formed a higher bottom series, signifying bullishness. Therefore, the closing above the resistance line indicates further bullish momentum to continue from the current levels. For the next few trading sessions, Rs 12,400 could be the trend-decider level for the bulls. If it sustains above the same, we can expect a further uptrend towards Rs 13,750.
Strategy: Buy
Target: Rs 13,750
Stop-Loss: Rs 12,400
Canara Bank | CMP: Rs 109.55
Post decline from the higher levels, Canara Bank rebounded from its demand zone and witnessed a steady recovery from the lower levels. Additionally, on the daily charts, the counter has formed a higher low formation. Therefore, the gradual up moves in the counter suggest a new leg of the bullish trend from the current levels. For traders, Rs 104 would be the key support level to watch out for, above which the uptrend structure could continue towards Rs 117.
Strategy: Buy
Target: Rs 117
Stop-Loss: Rs 104
Nandish Shah, Senior Technical and Derivative Analyst at HDFC Securities
Acutaas Chemicals | CMP: Rs 1,304
Acutaas Chemicals has broken out on the weekly chart with higher volumes. The stock price has been forming a bullish higher top–higher bottom formation on the weekly and monthly charts. Accumulation has been seen in the stock, where up-day volumes are higher as compared to down days during the last few weeks. Momentum indicators and oscillators like RSI and MFI are in a rising mode and placed above 60 on the daily chart, suggesting strength in the current bullish trend.
Strategy: Buy
Target: Rs 1,380, Rs 1,425
Stop-Loss: Rs 1,240
Bank of India | CMP: Rs 113.51
The short-term trend of Bank of India remains positive as it is placed above its 11- and 20-day EMA. The primary trend turned positive as the stock price closed above its 200-day EMA. Accumulation has been seen in Bank of India as up-day volumes are higher as compared to down days during the last few days. Momentum indicators and oscillators are showing strength in the current uptrend of the stock.
Strategy: Buy
Target: Rs 119, Rs 124
Stop-Loss: Rs 109
Max Financial Services | CMP: Rs 1,588.4
MFSL has broken out on the daily chart from the downward-sloping trendline, adjoining highs of July 1 and July 22, 2025. The stock price has been showing relative strength as it has closed at the highest level in a month. The stock price has been forming a bullish higher top–higher bottom formation on the weekly and monthly charts. Momentum indicators and oscillators like RSI and MFI are in a rising mode and placed above 60 on the daily chart, suggesting strength in the current bullish trend.
Strategy: Buy
Target: Rs 1,690, Rs 1,750
Stop-Loss: Rs 1.490
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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