Stocks to buy for the short term: The Indian stock market ended with significant losses on Tuesday as investors booked profits across sectors amid a lack of fresh domestic triggers and weak global cues.
The Sensex crashed 519 points, or 0.62 per cent, to end at 83,459.15, while the Nifty 50 fell 166 points, or 0.64 per cent, to close at 25,597.65. Broader markets also suffered losses. The Nifty Midcap 100 index declined 0.42 per cent, while the Smallcap 100 index fell 0.82 per cent.
Experts believe market structure will remain weak as long as the Nifty trades below 25,700.
According to Sudeep Shah, the head of technical and derivatives research at SBI Securities, the 25,480-25,440 zone may act as a crucial support, followed by 25,310, while on the upside, Shah finds resistance at 25,820-25,840.
Shah believes a sustained move above 25,840 could drive the Nifty to 25,960.
Stock picks for the short term
Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Equity Broking recommend six stocks to buy for the next 1-2 weeks. Take a look:
Expert: Vishnu Kant Upadhyay, AVP- Research and Advisory, Master Capital Services
Bajaj Finance | Buy at ₹1,057 | Target prices: ₹1,100 and ₹1,130 | Stop loss: ₹995
Upadhyay underscored that Bajaj Finance has retraced towards its 20-day EMA after a sharp breakout, indicating a healthy pullback within a strong uptrend.
The stock continues to form higher highs and higher lows, sustaining above all key moving averages, which reaffirms its bullish structure. RSI remains in the positive zone, and MACD supports ongoing momentum.
“This retracement toward short-term support offers a potential buy on dips opportunity, suggesting the uptrend is likely to resume once consolidation completes,” said Upadhyay.
Cello World | Buy at ₹636.90 | Target prices: ₹710 and ₹730 | Stop loss: ₹610
Upadhyay said Cello World has given a breakout above its previous resistance zone on the daily chart and is now retesting the breakout level, indicating healthy consolidation.
The stock remains above all key moving averages, reflecting sustained bullish momentum.
RSI continues to hold in the positive territory, suggesting strength in the ongoing trend.
“With price action showing signs of stabilisation near support, the setup indicates potential for renewed upside momentum once the consolidation phase concludes,” said Upadhyay.
Aurobindo Pharma | Buy at ₹1,149.10 | Target prices: ₹1,250 and ₹1,280 | Stop loss: ₹1,090
According to Upadhyay, Aurobindo Pharma has given a breakout from a declining trendline on the daily chart, signalling a potential bullish reversal.
The stock has reclaimed key short and medium-term moving averages, reflecting improving trend strength.
RSI has turned upward, highlighting strengthening momentum, while MACD has generated a positive crossover.
“A rise in volumes supports the breakout, and ADX moving above 25 indicates increasing trend intensity, reinforcing a bullish outlook for the stock in the near term,” said Upadhyay.
Expert: Hitesh Tailor, Research Analyst, Choice Broking
Indus Towers | Buy at ₹392.55 | Target price: ₹435 | Stop loss: ₹370
Tailor underscored that Indus Towers has shown strong bullish momentum after giving a breakout above its 200-day EMA, which earlier acted as a major resistance.
The stock successfully retested the breakout zone and formed a strong bullish candle, indicating renewed buying interest. The RSI stands at 65.11, highlighting continuation in bullish momentum.
“On the upside, a sustained move above ₹385 could lead to further gains towards ₹425. On the downside, the 200-day EMA placed near ₹360 is providing solid support, and a breach below this level may trigger extended weakness,” said Tailor.
Ajanta Pharma | Buy at ₹2,610.70 | Target price: ₹2,880 | Stop loss: ₹2,470
According to Tailor, Ajanta Pharma has been consolidating within a wide range, showing signs of accumulation.
The stock has recently formed a double bottom pattern on the weekly chart, indicating potential reversal and strength ahead.
“A decisive breakout and sustained move above ₹2,625 could trigger further bullish momentum towards ₹2,880 levels. On the downside, the stock is finding strong support near ₹2,470, which aligns with its 20-day EMA on the daily chart,” said Tailor.
“The overall structure remains positive, and traders may consider buying Ajanta Pharma at ₹2,610.70, with a stop loss at ₹2,470 and a target of ₹2,880,” Tailor said.
Jubilant Pharmova | Buy at ₹1,181.20 | Target price: ₹1,310 | Stop loss: ₹1,100
Tailor underscored that Jubilant Pharmova looks strong on the chart after a phase of consolidation.
The stock recently took solid support near its 200-day EMA and rebounded sharply, indicating renewed buying interest and a continuation of its positive momentum.
Tailor pointed out that the stock has given a decisive breakout from its consolidation range, reflecting strength in the ongoing uptrend.
“On the upside, immediate resistance is seen near ₹1,175; a break and sustained move above this level could trigger further bullish momentum,” said Tailor.
“On the downside, strong support is placed around the 20-day EMA near ₹1,110. The RSI stands at 66.49, indicating strength. Traders may consider buying at ₹1,181.20 with a stop loss of ₹1,100 for a target of ₹1,310,” Tailor said.