The momentum sustained in equity benchmarks that gained 0.4 percent on September 10, with positive market breadth. A total of 1,692 shares advanced compared to 1,083 declining shares on the NSE. The trend is likely to be upward despite consolidation (if any), as frontline indices now trade above all key moving averages. Below are some short-term trading ideas to consider:
Rupak De, Senior Technical Analyst at LKP Securities
NLC India | CMP: Rs 248.62
NLC India has broken out above Rs 232 with a strong bullish candle and rising volumes. The stock closed above the 21EMA, indicating strength. RSI has turned up from lower levels, confirming bullish momentum. In the near term, a sustained move above Rs 250 may lead towards Rs 265–270, while support lies at Rs 237.
Strategy: Buy
Target: Rs 270
Stop-Loss: Rs 237
Bharat Electronics | CMP: Rs 388
Bharat Electronics rallied 4.3% on Wednesday, marking a strong rebound after a brief consolidation phase. The stock formed a long bullish candle with volumes picking up, indicating renewed buying interest. On the indicator front, RSI (14) has given a sharp bounce from lower levels and crossed above the midline, showing strengthening momentum. With price recovering towards the 21-day EMA, sustained trade above Rs 390 could open the way for further upside, while support is placed at Rs 378 on the lower side.
Strategy: Buy
Target: Rs 410
Stop-Loss: Rs 378
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking
Mazagon Dock Shipbuilders | CMP: Rs 2,755.3
Mazagon Dock formed a good base formation and also found strong support at the 200-DMA, placed at Rs 2,685 levels. Earlier, we saw a lot of underperformance and short build-up in this space, and now we have started witnessing short covering, which indicates a sentimental change in this space. On the technical front, we have seen a breakout from a falling trendline with higher-than-average volumes.
Strategy: Buy
Target: Rs 3,000
Stop-Loss: Rs 2,590
Wipro | CMP: Rs 255.75
The Nifty IT index has formed a strong base and is rebounding from oversold levels. Wipro has given a breakout from an inverse Head and Shoulders pattern on the daily chart, backed by strong trading volumes. Momentum indicators and oscillators have confirmed a bullish crossover, and the RSI has also broken above a falling trendline, strengthening the positive view. Based on this setup, the stock is likely to move towards Rs 286 in the near term, with support placed at Rs 242, near the right shoulder of the pattern.
Strategy: Buy
Target: Rs 286
Stop-Loss: Rs 242
VIP Industries | CMP: Rs 447.7
VIP Industries has broken out of a symmetrical triangle pattern on the daily chart, indicating a continuation of its upward trend. The breakout was accompanied by strong volumes, reflecting solid underlying strength. Based on the pattern, the target is estimated around Rs 495, with immediate support at Rs 425. Considering these technical signals, the stock is expected to sustain its positive momentum in the short term, and a buy-on-dips strategy is advised.
Strategy: Buy
Target: Rs 495
Stop-Loss: Rs 425
Dhupesh Dhameja, Derivative Research Analyst at Samco Securities
Mankind Pharma | CMP: Rs 2,608.5
Mankind Pharma has displayed notable strength over the last three consecutive sessions, moving higher while respecting the rising trendline support. The stock is consolidating within a symmetrical triangle pattern, and price action is now on the verge of a decisive breakout as it tests the upper trendline.
Importantly, the consolidation phase has been accompanied by subdued volumes, suggesting accumulation at current levels rather than distribution. The stock is also sustaining above its 20-EMA and 50-EMA, which underpins a constructive bias.
Momentum indicators are turning favourable, with the RSI climbing to 59 and forming higher lows—a sign of strengthening momentum and persistent buying at dips. The narrowing price action near the triangle apex further indicates that a strong directional move is imminent.
Strategy: Buy
Target: Rs 2,875
Stop-Loss: Rs 2,460
Hindustan Aeronautics | CMP: Rs 4,557.5
Hindustan Aeronautics has shown a strong rebound from its key demand zone near Rs 4,250–4,300, where it formed a solid base over the past few weeks. In the latest session, the stock broke above its falling trendline resistance with a strong bullish candle, supported by a notable rise in volumes, confirming fresh buying interest.
The stock is also trading back above its 20-EMA and 200-EMA, signaling a positive shift in trend after a prolonged consolidation. The RSI has surged to 56, making a sharp higher low, which reflects improving momentum and strengthening bullish sentiment.
The breakout from the consolidation zone after multiple retests indicates that supply absorption has likely occurred, setting the stage for a sustained up-move. The price action suggests the possibility of further gains in the near term, as improving momentum and volume-backed breakout reinforce a bullish outlook in the short to medium term.
Strategy: Buy
Target: Rs 4,950
Stop-Loss: Rs 4,350
Indraprastha Gas | CMP: Rs 211.33
IGL has shown resilience around the key support zone of Rs 207–210, where it has respected the ascending trendline support and 0.382 Fibonacci retracement level. The stock has witnessed a healthy pullback from this support area, reflecting strong buying interest at lower levels.
Currently, the stock is trading above its 20-EMA and 50-EMA while maintaining its higher-low structure, which indicates a sustained bullish undertone. The RSI is placed near 55, rebounding from the neutral zone, suggesting improving momentum and scope for further upside.
The recent consolidation breakout and retest near support reinforce the view that supply has been absorbed, paving the way for a continuation of the uptrend. The stock can pick up momentum on a sustained move above Rs 212, which would further strengthen the bullish bias.
Strategy: Buy
Target: Rs 233
Stop-Loss: Rs 200
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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