The market is expected to remain in positive terrain, supported by strength in technical and momentum indicators. Below are some short-term trading ideas to consider.
Sunil Shankar Matkar
October 16, 2025 / 02:28 IST
Top Buy Ideas for October 16
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The benchmark indices recorded a seven-tenth of a percent rally on October 15, snapping a two-day losing streak. Market breadth also improved, with 1,789 shares advancing against 1,045 declining on the NSE. The market is expected to remain in positive terrain, supported by strength in technical and momentum indicators. Below are some short-term trading ideas to consider:
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking
Adani Ports and Special Economic Zone | CMP: Rs 1,450.7
Adani Ports recently found support near its 50-DMA, placed around Rs 1,375, and witnessed a sharp rebound. With the recent surge in momentum accompanied by higher volumes, the stock is now on the verge of a major breakout from a falling trendline connecting the previous major tops. A decisive move above this resistance would confirm a short-term bottom formation and open up upside potential toward Rs 1,577.
On the downside, immediate support is placed near Rs 1,391, which is expected to act as a cushion against minor pullbacks. On the derivatives front, a healthy build-up of long positions further reinforces the bullish sentiment. Based on the above rationale, we expect the stock to break out above resistance and move toward the Rs 1,577 level.
Strategy: Buy
Target: Rs 1,577
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Stop-Loss: Rs 1,391
Cholamandalam Investment and Finance Company | CMP: 1,698.4
Cholamandalam Investment is displaying strong momentum and has recently achieved a multi-month breakout on the charts, indicating a continuation of the bullish trend. On the derivatives front, the addition of fresh long positions reinforces the positive outlook.
Technically, the RSI has crossed above the 65 level, and the MACD has generated a fresh buy crossover, both confirming the bullish momentum. Based on this setup, the stock appears poised for a further move toward Rs 1,880, with immediate support placed at Rs 1,605.
Strategy: Buy
Target: Rs 1,880
Stop-Loss: Rs 1,605
BEML | CMP: Rs 4,471
BEML has given a breakout from a symmetrical triangle pattern on the daily chart, supported by higher-than-average volumes, confirming the breakout strength. The conservative target for this pattern is around Rs 4,880, while the 100-DMA provides strong support near Rs 4,230. Moreover, the stock is positioned above all key short-term and long-term moving averages, indicating robust and sustained bullish momentum.
Strategy: Buy
Target: Rs 4,880
Stop-Loss: Rs 4,230
Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities
Prestige Estates Projects | CMP: 1,676
Prestige Estates has given a downward-sloping trendline breakout on the daily chart, supported by a noticeable rise in volumes, confirming strong participation behind the move. The stock is trading comfortably above both its short- and long-term moving averages, indicating a positive price structure. The RSI is rising and quoting above 60, reflecting strengthening momentum.
Meanwhile, the MACD remains above the zero line with rising histogram bars, suggesting that bullish momentum is accelerating. We recommend accumulating the stock in the zone of Rs 1,680–1,670.
Strategy: Buy
Target: Rs 1,790
Stop-Loss: Rs 1,600
Larsen & Toubro | CMP: Rs 3,828.7
L&T continues to move in a higher-high, higher-low formation, reflecting a sustained uptrend. The stock took support from its 50-day EMA on October 1, which also coincided with the midline of the Bollinger Bands — a dynamic support zone that often acts as a mean reversion level where fresh buying tends to emerge.
Currently, the price is hugging the upper Bollinger Band, indicating strong bullish momentum and the presence of sustained buying pressure. The ADX is in a rising mode, suggesting that the ongoing trend is strengthening, and volatility is being supported by strong directional momentum. Hence, we recommend accumulating the stock in the zone of Rs 3,820–3,800.
Strategy: Buy
Target: Rs 4,090
Stop-Loss: Rs 3,690
Bajaj Finserv | CMP: Rs 2,084.1
Recently, Bajaj Finserv took support near the 61.8% Fibonacci retracement level of its recent upward move and thereafter started moving higher. The reversal from the support zone is confirmed by above-average volume. The +DI crossing above –DI on the ADX indicator signals that buyers are regaining control and the uptrend is strengthening.
After moving in a narrow range for the past four sessions, the stock formed a sizeable bullish candle along with robust volume on Wednesday, confirming a momentum pickup. Notably, during the retest phase, the MACD stayed above the zero line and turned slightly upward — indicating that bullish momentum remained intact, and the correction was merely a pause within the broader uptrend. Hence, we recommend accumulating the stock in the zone of Rs 2,090–2,070.
Strategy: Buy
Target: Rs 2,230
Stop-Loss: Rs 2,010
Rupak De, Senior Technical Analyst at LKP Securities
DLF | CMP: Rs 756.3
DLF has moved higher after consolidating for a few days, indicating renewed bullish momentum. Additionally, it moved above the critical near-term moving average (21 EMA), confirming a new uptrend.
The RSI has formed a positive divergence on the daily timeframe. Based on this technical setup, the uptrend is expected to continue in the short term. On the upside, the stock may move toward Rs 825, while immediate support is placed at Rs 729.
Strategy: Buy
Target: Rs 825
Stop-Loss: Rs 729
Hindustan Copper | CMP: Rs 341.9
Hindustan Copper has been in an uptrend for quite some time. Following a recent correction and subsequent bullish reversal pattern (bullish harami) on the daily chart, the stock appears set for a smart recovery.
Additionally, it has been sustaining above the critical 21 EMA. The overall chart structure appears conducive for a sharp rally in the short term. On the higher side, the stock may move toward Rs 370, while support is placed at Rs 329.
Strategy: Buy
Target: Rs 370
Stop-Loss: Rs 329
Apollo Tyres | CMP: Rs 486.8
Though Apollo Tyres has been trading within a range, it has recently found support at the 21-EMA. Overall, a positive trend prevails as the stock continues to sustain above key moving averages. The hourly RSI is in a bullish crossover, setting a positive tone for price momentum. In the short term, the stock is expected to remain strong.
Strategy: Buy
Target: Rs 510
Stop-Loss: Rs 470
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.