The benchmark indices slipped into the red after a day of gains, falling 0.6 percent on November 5, with weakness in market breadth. About 1,965 shares saw selling pressure against 882 rising shares on the NSE. The market may remain range-bound until it trades below the previous week's high. Below are some short-term trading ideas to consider:
Amol Athawale, VP Technical Research at Kotak Securities
Jindal Steel | CMP: Rs 1,080.7
Post a short-term correction in the stock, Jindal Steel has rebounded and has been moving in a rising channel for the last few sessions. Moreover, on the daily charts, the stock has formed a cup and handle chart formation. Therefore, a breakout move from the resistance zone for a bullish continuation rally is very likely to occur in the coming trading sessions.
For positional traders, Rs 1,050 would be the decisive level. Trading above this level, the uptrend formation is expected to continue till Rs 1,130. However, if it closes below Rs 1,050, traders may prefer to exit long positions.
Strategy: Buy
Target: Rs 1,130
Stop-Loss: Rs 1,050
ICICI Lombard General Insurance Company | CMP: Rs 2,040
After the sharp up move of the last few weeks, ICICI Lombard witnessed consolidation near the resistance zone. However, after the upward rally, the stock comfortably closed above its breakout zone. The closing above the resistance zone on the daily scale suggests a bullish continuation chart structure, and the up move is likely to persist in the coming horizon. As long as the stock trades above Rs 1,965, the bullish texture is likely to continue, above which the stock could move up to Rs 2,180.
Strategy: Buy
Target: Rs 2,180
Stop-Loss: Rs 1,965
Union Bank of India | CMP: Rs 151.54
On the weekly charts, the stock is in a rising channel chart formation with a higher high and higher low series pattern. The stock witnessed a steady recovery from trendline support levels. Additionally, the technical indicator RSI is also indicating a further uptrend from current levels, which could boost bullish momentum in the near future.
For the next few trading sessions, Rs 145 could be the trend-decider level for the bulls; if it sustains above this level, we can expect a further uptrend towards Rs 163.
Strategy: Buy
Target: Rs 163
Stop-Loss: Rs 145
Vinay Rajani, Senior Technical & Derivative Analyst at HDFC Securities
Kalpataru Projects International | CMP: Rs 1,314.5
In the week ended October 24, Kalpataru Projects broke out from multi-week consolidation with a jump in volumes. The stock is placed above all key moving averages, indicating a bullish trend on all time frames. Indicators and oscillators have been showing strength in the current trend.
Strategy: Buy
Target: Rs 1,399
Stop-Loss: Rs 1,241
IDBI Bank | CMP: Rs 99.26
IDBI Bank has broken out from a cup and handle pattern on the monthly line chart. The PSU Bank sector has been outperforming and maintaining its bullish momentum. The price breakout is accompanied by a jump in volumes. Indicators and oscillators have been showing strength in the current trend.
Strategy: Buy
Target: Rs 112
Stop-Loss: Rs 95
Sagility India | CMP: Rs 51.56
In the week ended October 31, Sagility broke out from multi-week consolidation with a jump in volumes. The stock is placed above all key moving averages, indicating a bullish trend on all time frames.
Strategy: Buy
Target: Rs 59
Stop-Loss: Rs 49.6
Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors
Delhivery | CMP: Rs 484.85
On the daily chart, Delhivery has been moving up in the form of higher highs and higher lows since around mid-April 2025. At the start of this week, the stock took support at the 50-day Exponential Moving Average (EMA), which also happens to be a trendline support, and reversed on the upside.
In the previous session, prices closed above the prior 3-day high with a notable spike in volumes — the first time since October 17 — which is a positive sign. For now, any sustainable breach above the Rs 490 level can push prices to Rs 515, followed by Rs 530.
Strategy: Buy
Target: Rs 515, Rs 530
Stop-Loss: Rs 465
Asahi India Glass | CMP: Rs 956.75
On the daily chart, as per the three candlesticks rule, the current trend for Asahi India Glass has turned bullish as the current high is above the prior day’s high, the current low is above the prior day’s low, and the current close is above the prior day’s high. The stock also managed to make a fresh high of Rs 960.50 in the previous session, which is a positive sign.
Recently, prices bounced on the upside from mid-Bollinger Bands support and surged by nearly 5 percent since then, highlighting buying pressure from lower levels. For now, a decisive break above the Rs 960 level can further extend bullish momentum towards Rs 1,000 and Rs 1,030.
Strategy: Buy
Target: Rs 1,000, Rs 1,030
Stop-Loss: Rs 920
Rupak De, Senior Technical Analyst at LKP Securities
Max Financial Services | CMP: Rs 1,592.4
Max Financial Services has given a consolidation breakout on the daily timeframe, confirming a strong bullish trend in the short term. Additionally, the price has moved above key moving averages with increased volume. The RSI is in a bullish crossover, indicating rising positive momentum.
In the short term, the trend is likely to remain strong with potential to reach Rs 1,660. On the lower end, support is placed at Rs 1,570.
Strategy: Buy
Target: Rs 1,660
Stop-Loss: Rs 1,570
City Union Bank | CMP: Rs 258.65
City Union Bank has given a strong breakout from its recent consolidation, reflecting improved investor sentiment. The up move was supported by a sharp rise in volume. The RSI has formed a bullish crossover on the daily timeframe, confirming momentum strength. In the short term, the trend is likely to remain positive with potential to reach Rs 275. On the lower end, support is placed at Rs 243.
Strategy: Buy
Target: Rs 275
Stop-Loss: Rs 243
Titan Company | CMP: Rs 3,813.5
Titan Company has given a flag pattern breakout on the daily timeframe, indicating renewed bullish sentiment. The move was accompanied by a surge in volume. The RSI shows a bullish crossover on the daily timeframe, suggesting strong momentum ahead.
In the short term, the trend is likely to remain positive with potential to reach Rs 4,050. On the lower end, support is placed at Rs 3,664.
Strategy: Buy
Target: Rs 4,050
Stop-Loss: Rs 3,664
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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