Stocks to buy for short term: Market benchmarks the Sensex and the Nifty 50 clocked a healthy gain of 1.6 per cent for the week ended November 14, driven by hopes of an India-US trade deal amid better-than-expected Q2 results of Indian corporates.
The Nifty 50 is now inching closer to the 26,000 mark, and experts believe positive global triggers may drive it to record highs as domestic growth-inflation dynamics remain a key support.
On the technical front, experts expect the index to stay in the positive territory, potentially eyeing the levels near 26,500.
Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, pointed out that the Nifty 50 respected the key support around 25,300 last week. This is the level that also aligns with the 50 per cent Fibonacci retracement of the previous rally.
From a technical standpoint, the bullish view remains intact. Accumulation of index ETFs near 25,300 proved timely as the Nifty now approaches the psychological 26,000 level along with the crucial barrier at 26,277, said Patel.
Price behaviour suggests the index is poised to surpass both in the coming week.
“A sustained move above 26,277 could propel the Nifty into uncharted territory, paving the way for fresh all-time highs near 26,400. A mild pullback cannot be ruled out after the recent up-move. In that case, support at 25,700 becomes critical for the week ahead, with a breakdown potentially triggering short-term profit-taking,” Patel said.
Stock picks for the short term
Jigar Patel recommends buying the following three stocks for the next one to two weeks:
Fertilizers and Chemicals Travancore (FACT) | Previous close: ₹914.55 | Buying range: ₹918–910 | Target price: ₹1,005 | Stop loss: ₹869
Patel underscored that FACT has formed multiple bottoms near its 200-day SMA, indicating strong demand and a solid support base at lower levels.
This stability is further reinforced by bullish divergence on both the short- and long-term MACD, signalling a potential shift in momentum from consolidation to an upward move.
The combination of price holding above a major moving average and improving momentum indicators suggests that the stock is poised for a positive breakout.
“A buying opportunity is recommended in the ₹918–910 zone. If the bullish setup plays out, the stock may move toward the ₹1,005 target. However, traders should maintain a strict stop loss at ₹869 on a daily closing basis to manage risk effectively,” said Patel.
Dr. Lal Path Labs | Previous close: ₹3,153.20 | Buying range: ₹3,160–3,130 | Target price: ₹3,460 | Stop loss: ₹2,985
Patel said Dr. Lal Path Labs has established multiple bottoms near its 200-day EMA, highlighting strong demand and a reliable support base at lower levels.
This price stability is complemented by bullish divergence on both short- and long-term MACD indicators, suggesting a shift in momentum and increasing the probability of an upside reversal.
With the stock sustaining above a key moving average and momentum gradually improving, the overall technical structure points toward a potential breakout.
“In line with this setup, a buying opportunity is advised in the ₹3,160–3,130 zone. If the bullish trend unfolds as expected, the stock could head toward the ₹3,460 targets. Traders should, however, keep a strict stop loss at ₹2,985 on a daily closing basis to manage downside risk,” said Patel.
DOMS Industries | Previous close: ₹2,621.70 | Buying range: ₹2,630–2,600 | Target price: ₹2,850 | Stop loss: ₹2,497
According to Patel, DOMS Industries has built a strong base in the ₹2,500–2,600 zone through a sustained consolidation phase, indicating steady accumulation at lower levels.
In the previous session, the stock broke out decisively above the ₹2,600 mark, signalling renewed buying interest and a potential continuation of the uptrend.
This breakout is further validated by a bullish MACD crossover above the zero line, reflecting strengthening momentum.
With both price action and indicators aligning positively, the technical setup suggests further upside potential.
“Therefore, we recommend initiating long positions in the ₹2,630–2,600 zone. If the trend plays out as expected, the stock may move toward the ₹2,850 target. Traders should keep a strict stop loss at ₹2,497 on a daily closing basis to manage risk,” said Patel.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.