Stocks to buy for the short term: The Indian stock market benchmark Nifty 50 is inching closer to the 26,000 mark, supported by domestic investors, even as foreign institutional investors intermittently book profits.
At the current juncture, the market awaits clarity on the India-US trade deal. Moreover, the upcoming Q1FY26 results will hold the key to Nifty 50 hitting fresh highs in the coming weeks.
Technically, in the previous session, the Nifty made a bearish candle on the daily chart, indicating temporary weakness.
Shrikant Chouhan, the head of equity research at Kotak Securities, believes 25,450 would be a crucial level, below which there could be a further correction towards 25,375-25,300.
On the other hand, a sustained move above 25,450 may take the index to 25,600. The uptrend may continue further, potentially taking the market towards 25,670, said Chouhan.
Experts suggest investors should focus on stocks with strong fundamentals and favourable technical indicators at this juncture.
Vishnu Kant Upadhyay of Master Capital Services and Hardik Matalia of Choice Broking suggested six stocks to buy for the next two to three weeks. Do you own any?
Stock picks for the short term
Expert: Vishnu Kant Upadhyay, AVP – Research & Advisory, Master Capital Services
Life Insurance Corporation of India (LIC) | Previous close: ₹972.80 | Target prices: ₹1,060 and ₹1,100 | Stop loss: ₹910
LIC has registered a decisive breakout from an inverse head and shoulders pattern, signalling a strong bullish reversal.
The breakout is validated by a significant spike in volume, indicating fresh accumulation by market participants.
The stock continues to form higher highs and higher lows, reinforcing the prevailing uptrend.
It is trading well above its 21- and 55-day exponential moving averages, underscoring strong momentum.
An RSI reading of 69 coupled with a bullish MACD setup highlights sustained strength without overbought conditions, suggesting continued outperformance in the near term.
Bank of Baroda (BoB) | Previous close: ₹248.78 | Target prices: ₹275 and ₹280 | Stop loss: ₹231
BoB has reversed smartly after taking support from the ascending trendline, indicating sustained bullish momentum.
The stock continues to trade above its 21-day and 55-day EMAs, reflecting strong short-to-medium-term trend strength.
A recent positive MACD crossover supports the bullish bias, signalling a potential upward continuation.
Additionally, the RSI is holding in a strong zone, suggesting healthy momentum without overbought conditions.
These technical parameters collectively indicate a favourable setup for further upside, supporting a buy-on-dips strategy from a technical analyst’s perspective.
ICICI Lombard General Insurance Company | Previous close: ₹2,040.20 | Target prices: ₹2,170 and ₹2,200 | Stop loss: ₹1,920
ICICI Lombard General Insurance (ICICIGI) has registered a decisive breakout from an inverse head and shoulders pattern, indicating a robust bullish reversal.
The breakout is validated by a surge in trading volumes, signalling fresh accumulation. The stock is comfortably positioned above all key short- and long-term exponential moving averages, reinforcing strong upward momentum.
An RSI reading of 68 reflects bullish strength without entering overbought territory.
The consistent formation of higher highs and higher lows further confirms a well-established uptrend, suggesting the potential for continued outperformance in the near term.
Expert: Hardik Matalia, Derivative Analyst, Choice Broking
Laurus Labs | Previous close: ₹724.85 | Target prices: ₹805 and ₹820 | Stop loss: ₹685
Laurus Labs continues to follow a strong uptrend, consistently forming higher highs and higher lows.
The stock had been trading within a well-defined upward channel and has recently given a strong breakout above this structure, signalling a potential acceleration in bullish momentum.
The RSI is currently at 75.66 and trending sharply upwards, reflecting strong momentum. However, traders should also stay mindful of slightly overbought conditions.
Technically, the stock is trading comfortably above all its key moving averages, which supports the continuation of the bullish trend.
“If it manages to sustain above the ₹730 level, it could confirm the breakout and pave the way for a further upward move,” said Matalia.
“Traders can consider initiating fresh long positions at the current price of ₹724.85, with a stop-loss placed at ₹685. On the upside, the stock has the potential to move toward the target range of ₹805– ₹820 in the near term, offering a favourable risk-reward opportunity,” said Matalia.
Ambuja Cements | Previous close: ₹577.45 | Target prices: ₹635 and ₹650 | Stop loss: ₹550
After witnessing a sharp decline, Ambuja Cements has entered a phase of consolidation, signalling stability and potential accumulation at lower levels.
During this phase, the stock has been forming an Ascending Triangle pattern, which is typically a bullish continuation setup.
“It is now on the verge of a breakout, and a sustainable move above the ₹580 level would confirm this formation and could trigger a fresh upward rally,” said Matalia.
The RSI stands at 65.49 and is trending upwards, reflecting strengthening momentum and increasing buying interest.
Technically, the stock is trading comfortably above all its key moving averages, further reinforcing the underlying bullish sentiment.
“Traders can consider initiating long positions at the current market price of ₹577.45, with a stop-loss placed at ₹550 to manage risk effectively. On the upside, a breakout could lead the stock toward the ₹635– ₹650 range in the near term, offering a favourable risk-reward setup,” said Matalia
Jindal Stainless (JSL) | Previous close: ₹705.10 | Target prices: ₹780 and ₹800 | Stop loss: ₹670
JSL has recently broken out of a falling trend line, signalling a shift in momentum from corrective to bullish.
Post breakout, the stock successfully retested the breakout levels and has now shown a strong reversal, confirming the validity of the breakout zone as a new support base.
This price action reflects renewed buying interest and strength at lower levels.
The RSI is currently at 59.53 and has given a positive crossover, indicating rising momentum and further upside potential.
Technically, JSL is trading comfortably above all its key moving averages, reinforcing the strength of the ongoing trend and supporting a bullish outlook.
“If the stock manages to sustain above the ₹730 level, it could pave the way for a fresh move toward the ₹780– ₹800 target range in the near term. Traders can consider initiating fresh long positions at current levels, with a stop-loss placed at ₹670 to maintain a favourable risk-reward ratio,” said Matalia.
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.