Stocks to buy for the short term: The Indian stock market benchmark Nifty 50 slipped by about 0.40% in intraday trade on Tuesday, January 6, looking set to extend losses for the second consecutive session. The index fell 0.30% in the previous session on profit booking after hitting a record high of 26,340 on January 2.
The market is struggling to extend gains due to caution ahead of the start of the Q3FY26 earnings season. Moreover, there are no positive developments on the India-US trade deal front. Escalating geopolitical tensions, on the other hand, further weigh on cautious market sentiment.
Experts say investors should focus on picking stocks with favourable technical indicators for the short term.
Vishnu Kant Upadhyay of Master Capital Services and Aakash Shah of Choice Equity Broking recommend the following six stocks to buy for the next 1-2 weeks:
Stock picks for the short term
Expert: Vishnu Kant Upadhyay, AVP- Research and Advisory, Master Capital Services
PG Electroplast | Buy at ₹630 | Target prices: ₹675 and ₹690 | Stop loss: ₹586
Upadhyay highlighted that PG Electroplast (PGEL) has respected its bullish trendline support and delivered a decisive breakout from an ascending triangle, confirmed by a strong bullish candle, signalling improving upside momentum.
The bullish crossover of the 21-EMA above the 55-EMA reinforces the positive trend structure. Additionally, the RSI has broken out of a symmetrical triangle, indicating fresh momentum entering the stock.
“Overall, the technical setup suggests strengthening bullish bias with potential for further upside in the near term,” said Upadhyay.
Cyient | Buy at ₹1,154 | Target prices: ₹1,240 and ₹1,260 | Stop loss: ₹1,070
As per Upadhyay, Cyient is approaching a potential breakout from a descending triangle, supported by the formation of a Morning Star pattern, indicating emerging bullish momentum.
On lower timeframes, prices sustaining above the 21-EMA and 55-EMA further strengthen the positive short-term trend.
Additionally, RSI has confirmed the improving outlook by forming a positive divergence, signalling underlying strength despite prior weakness.
“Overall, the technical structure points toward a growing bullish bias, with scope for an upside move if the breakout is confirmed,” said Upadhyay.
Max Financial Services | Buy at ₹1,704 | Target prices: ₹1,810 and ₹1,860 | Stop loss: ₹1,605
Upadhyay underscored that MAX Financial Services has respected its rising trendline and continued to form higher highs and higher lows, reflecting sustained bullish momentum.
Prices holding above the 21-EMA and 55-EMA further validate the strength of the ongoing uptrend.
Additionally, the RSI has broken above its downward trendline with improving momentum, signalling renewed buying interest.
“Overall, the technical structure indicates strong bullish bias, suggesting the stock may continue to move higher in the near term, barring any major market-wide weakness,” said Upadhyay.
Expert: Aakash Shah, Research Analyst at Choice Broking
The India Cements | Buy at ₹457 | Target price: ₹490 | Stop loss: ₹435
According to Shah, The India Cements is trading in a strong bullish trend and is currently hovering near its all-time high levels, which highlights strong positive sentiment.
The stock has decisively broken above the earlier resistance zone of ₹445–450, confirming a bullish breakout and continuation of the prevailing uptrend.
The overall price structure remains very constructive, with higher highs and higher lows, indicating sustained buying interest.
The stock is trading comfortably above all key EMAs, which are positively aligned and sloping upward, reflecting solid trend strength.
The 20-day EMA near ₹432 is acting as immediate support on minor pullbacks. Momentum indicators remain supportive, showing healthy bullish momentum without signs of exhaustion, while volumes remain steady.
“On the downside, ₹435 serves as a key stop loss, while on the upside, the stock has the potential to move towards ₹490 in the near term, as long as it sustains above support,” said Shah.
Prestige Estates Projects | Buy at ₹1,667.10 | Target price: ₹1,840 | Stop loss: ₹1,584
As per Shah, Prestige Estates Projects has rebounded from a key support zone and broken above a falling trend line.
This breakout has been confirmed by a strong bullish candle accompanied by rising volumes, indicating a potential trend reversal and renewed buying interest.
“A sustained move above the crucial resistance level of ₹1,700 could trigger a fresh uptrend, with the stock potentially advancing toward ₹1,840, supported by improving market participation,” said Shah.
“On the downside, immediate support is seen at ₹1,610, which may act as a cushion in the event of a minor pullback,” Shah said.
Momentum indicators further reinforce the positive outlook, with the RSI at 56.74 and trending upward.
Additionally, the stock is trading comfortably above its 20-day, 50-day, and 200-day exponential moving averages, underscoring underlying strength.
“Traders may consider initiating long positions around ₹1,667.10, with a stop loss placed at ₹1,584 and an upside target of ₹1,840, while maintaining disciplined risk management to account for potential short-term volatility,” Shah said.
Nestle India | Buy at ₹1,314.60 | Target price: ₹1,410 | Stop loss: ₹1,267
According to Shah, Nestle India is exhibiting strong bullish momentum as it forms a rounding bottom pattern, signalling a potential reversal from a key support zone.
“A decisive close above the major resistance level of ₹1,350, supported by rising volumes, would confirm robust buying interest and validate the breakout. Such a move could pave the way for an immediate upside toward ₹1,410 in the short term,” said Shah.
Momentum indicators further support the positive outlook. On the weekly chart, the RSI stands at 69.11 and continues to trend upward, reflecting healthy strength.
Additionally, the stock is trading above its 20-day, 50-day, and 200-day exponential moving averages, indicating sustained positive sentiment across multiple timeframes.
“Traders may consider initiating long positions near ₹1,314.80, with an upside target of ₹1,410 and a stop loss placed at ₹1,267. Immediate support is seen around ₹1,277, which could provide a base during minor pullbacks,” said Shah.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, 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.