On Dec 29 the Indian stock market fell about 0.4%, with more stocks dropping than rising. The market looks weak in the short run, but some shares still show clear buying or selling opportunities.
Market snapshot
About 2,062 stocks were down while 847 rose on the NSE, indicating bearish breadth. Analysts expect the market to stay choppy for the next few days.
Short‑term trading ideas
Texmaco Rail & Engineering (₹136.57)
The stock has reclaimed its 200‑week EMA and the weekly RSI is breaking higher, suggesting renewed strength. Volume is also picking up.
- Strategy: Buy
- Entry zone: ₹138 – ₹136
- Target: ₹156
- Stop‑Loss: ₹127
Container Corporation of India (₹520)
CONCOR bounced off a long‑term support level that has held since 2019. A bullish divergence on the daily chart and a weekly RSI near 45 point to a possible reversal.
- Strategy: Buy
- Entry zone: ₹525 – ₹515
- Target: ₹575
- Stop‑Loss: ₹495
Escorts Kubota (₹3,722)
The share is consolidating between ₹3,600 and ₹3,700, aligning with key moving averages. The weekly RSI has moved above 50, indicating improving momentum.
- Strategy: Buy
- Entry zone: ₹3,740 – ₹3,720
- Target: ₹3,970
- Stop‑Loss: ₹3,600
Hindustan Petroleum Corp (₹474.15)
Falling global crude prices help oil marketing companies. HPCL has broken above key resistance levels and open interest in futures is rising, a sign of bullish sentiment.
- Strategy: Buy HPCL Jan Futures
- Entry range: ₹475 – ₹480
- Targets: ₹500, ₹520
- Stop‑Loss: ₹464
Tata Consumer Products (₹1,195.2)
The stock has crossed several swing resistances and the futures market shows strong long‑build up. Calls are concentrated at the ₹1,200 level, suggesting a clear upward path.
- Strategy: Buy Tata Consumer Jan Futures
- Entry range: ₹1,190 – ₹1,205
- Targets: ₹1,240, ₹1,265
- Stop‑Loss: ₹1,170
State Bank of India (₹965)
SBI pulled back after a strong rally, and futures open interest is falling, indicating profit‑taking. The short‑term outlook looks sideways unless the stock breaks above ₹995.
- Strategy: Sell SBI Jan Futures
- Entry range: ₹980 – ₹970
- Target: ₹950
- Stop‑Loss: ₹995
APL Apollo Tubes (₹1,888.6)
The share completed a bullish cup‑and‑handle breakout and closed strongly the next week. RSI around 66 shows solid upward momentum.
- Strategy: Buy
- Entry: Around ₹1,888
- Target: ₹2,039
- Stop‑Loss: ₹1,812
Titan Company (₹3,983.7)
Titan has bounced off its long‑term trendline and broke out of a two‑year consolidation, pointing to fresh buying. Momentum indicators stay in buy mode.
- Strategy: Buy
- Entry: Around ₹3,983
- Target: ₹4,301
- Stop‑Loss: ₹3,824
Gujarat Mineral Development Corp (₹597.25)
The stock turned bullish on the weekly chart, with a former resistance now acting as support. Volume surged above the 20‑day average and RSI sits at 62.
- Strategy: Buy
- Entry: Around ₹597
- Target: ₹668
- Stop‑Loss: ₹573
Takeaway
Even in a weak market, technical signs point to buying opportunities in rail, container, tractor, oil, FMCG, and metal stocks, while a short position looks reasonable on the large‑cap bank SBI. Always set stop‑losses and adjust positions as the market moves.
Remember, this is just one perspective, not a prediction. Do your own research before trading.