Equity benchmarks started off the monthly F&O expiry week on a negative note, with the Nifty 50 declining 0.63 percent, extending its downward journey for the third straight session on July 28. The market breadth continued to be dominated by bears, with 2,043 shares declining compared to 673 advancing on the NSE. The market may continue to consolidate with a negative bias in the upcoming sessions. Below are some short-term trading ideas to consider:
Jigar S Patel, Senior Manager - Equity Research at Anand Rathi
TCS | CMP: Rs 3,079.3
Tata Consultancy Services (TCS) has been on a downward trajectory since mid-May 2025, consistently forming lower highs and lower lows. This bearish structure has led to a correction of nearly Rs 440, a decline of approximately 12.32 percent. However, the stock now stands at a technically significant zone, where both time and price confluence suggest a potential trend reversal.
Historically, key pivot highs and lows in TCS have often occurred within a 25–38-day cycle. Notably, this time window aligns with both a Lucas number (29) and a Fibonacci number (34), adding further credibility to the time-based support.
Additionally, a bullish Bat Harmonic Pattern is forming around the Rs 3,080–3,100 mark, coinciding with the S1 quarterly floor pivot, reinforcing the likelihood of a strong base. The MACD histogram is also showing signs of waning negative momentum, with shrinking red bars indicating a possible trend shift. Traders may consider entering long positions in the Rs 3,100–3,070 zone.
Strategy: Buy
Target: Rs 3,335
Stop-Loss: Rs 2,960
Sun Pharmaceutical Industries | CMP: Rs 1,702.2
Sun Pharma has established a strong support base in the Rs 1,650–1,680 range, which aligns with the S3 Camarilla monthly pivot, marking a critical support zone. This area is further reinforced by a rising trendline and the lower median line of a pitchfork, forming a powerful technical confluence likely to attract renewed buying interest. The convergence of these multiple support levels enhances the likelihood of a bullish reversal. A decisive breakout above this consolidation zone could trigger a new upward movement. Traders may consider entering long positions in the Rs 1,705–1,695 zone.
Strategy: Buy
Target: Rs 1,800
Stop-Loss: Rs 1,650
Cipla | CMP: Rs 1,572
Cipla has successfully breached its descending trendline on the weekly chart, accompanied by a notable surge in volume, signaling a potential trend reversal. The RSI on the weekly timeframe remains in the 45–50 range, which typically suggests building bullish momentum. Traders may consider entering long positions in the Rs 1,575–1,565 zone.
Strategy: Buy
Target: Rs 1,670
Stop-Loss: Rs 1,520
Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities
Torrent Pharmaceuticals | CMP: Rs 3,622.9
Torrent Pharma has given a clean breakout from its consolidation and has since been forming higher highs and higher lows. The rising Open Interest suggests long buildup, indicating a positive trend in the short to medium term.
Options activity shows strong Put writing across strikes from Rs 3,400 to Rs 3,600, while Call writers appear trapped at Rs 3,350 to Rs 3,400. This setup could cause short-term volatility, but any dip should be viewed as a buying opportunity. Buy Torrent Pharma August Futures in the range of Rs 3,660 to Rs 3,630.
Strategy: Buy
Target: Rs 3,770, Rs 3,830
Stop-Loss: Rs 3,530
NCC | CMP: Rs 215.51
NCC has broken multiple support levels in the Rs 218–220 range, accompanied by a rise in Open Interest, indicating short buildup and suggesting further downside pressure in the near term.
Since being introduced in the derivatives market, NCC has consistently witnessed short additions, and the recent breakdown adds further confirmation of the next leg of a downtrend. The stock faces a strong hurdle at Rs 230, where the highest Call open interest is placed. It is also trading below its maximum pain level and the 20-day VWAP, currently at Rs 225 and Rs 223, respectively. So, sell NCC August Futures in the range of Rs 220 to Rs 212, with a negative short-term outlook unless it closes above its key hurdles.
Strategy: Sell
Target: Rs 204, Rs 200
Stop-Loss: Rs 225
Vidnyan S Sawant, Head of Research at GEPL Capital
One 97 Communications | CMP: Rs 1,094.2
Paytm has been in a positive trend since May 2024. In the recent week, it broke out of a cup-and-handle formation, following the prior week’s breakout above the December 2024 swing high, both supported by a volume surge above the 20-week average, confirming strong participation.
On the daily chart, the stock has shown resilience amid broader market volatility, holding steady near its 5-day EMA, with the 12- and 26-day EMAs rising, reflecting a strong underlying trend. The MACD remains in a rising trajectory, indicating sustained bullish momentum.
Strategy: Buy
Target: Rs 1,225
Stop-Loss: Rs 1,039
SBI Life Insurance Company | CMP: Rs 1,850.5
SBI Life remains in a strong long-term uptrend, forming higher bottoms on the monthly chart since 2018. Despite recent consolidation on the weekly timeframe, it shows high relative strength, signaling resilience.
On the daily chart, it has rebounded from the 50-day EMA and broken out of a 5-day range, indicating bullish momentum. It continues to trade above key 12- and 26-week EMAs, while the weekly RSI above 60 with hidden bullish divergence supports the case for further upside.
Strategy: Buy
Target: Rs 2,053
Stop-Loss: Rs 1,755
UPL | CMP: Rs 730
UPL has delivered a decisive breakout above a sloping trendline on the monthly chart, supported by a strong bullish candlestick. On the weekly timeframe, the stock has gained momentum from the 5-week EMA, with volume surging above the 20-week average, indicating renewed buying interest.
On the daily chart, the stock remains in a narrow range near the 5-day EMA, with rising 12- and 26-day EMAs, confirming a strengthening trend. The MACD remains in buy mode, reinforcing the bullish outlook.
Strategy: Buy
Target: Rs 788
Stop-Loss: Rs 708
Syrma SGS Technology | CMP: Rs 746.35
Syrma SGS has shown strong bullish price action across all timeframes. On the monthly chart, the stock formed a robust bullish candlestick and hit an all-time high, signaling powerful upward momentum.
On the weekly scale, it continues to form higher highs and higher lows, with rising volume, indicating growing investor participation. The stock is trading well above its key 5-, 12-, 25-, and 50-week EMAs, reinforcing trend strength. The MACD is also inching higher, supporting the continuation of the bullish momentum.
Strategy: Buy
Target: Rs 821
Stop-Loss: Rs 715
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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