The stock market is showing signs of a potential bounce after a four-day losing streak, and investors are looking for the best trading ideas to boost their portfolios before the month ends. With market breadth favouring bears and about 1,771 shares witnessing selling pressure, it's time to get selective with your investments.
Market Outlook
Remember, this is perspective, not prediction. Do your own research and consider your own risk tolerance before making any investment decisions. The market may attempt a bounce back, but sustainability will be key to watch. Here are some short-term trading ideas to consider:
Stock Picks
- SRF: Buy with a target of Rs 3,150 and Rs 3,250, and a stop-loss of Rs 2,890. The stock has built a solid base and is trading above all key EMAs, with daily and weekly momentum indicators remaining in bullish territory.
- Ramco Cements: Buy with a target of Rs 1,110 and Rs 1,136, and a stop-loss of Rs 1,008. The stock has delivered a bullish breakout above a triangular consolidation, with strong volume participation.
- SBI Cards and Payment Services: Sell with a target of Rs 800 and Rs 740, and a stop-loss of Rs 880. The stock has broken down below key support, with negative volume expansion supporting a bearish bias.
- BSE: Buy with a target of Rs 2,950, and a stop-loss of Rs 2,580. The stock is trading firmly above its rising 50-day SMA, with a controlled pullback and consolidation indicating a pause rather than trend exhaustion.
- Aurobindo Pharma: Buy with a target of Rs 1,280, and a stop-loss of Rs 1,165. The stock is extending its recovery after a strong breakout, with the price holding comfortably above the rising Supertrend support.
- Tech Mahindra: Buy with a target of Rs 1,680, and a stop-loss of Rs 1,545. The stock has witnessed a strong breakout above the Rs 1,600 level, supported by healthy volumes and inclining short-term moving averages.
- ICICI Prudential Life Insurance Company: Buy with a target of Rs 700, and a stop-loss of Rs 615. The stock continues to trade above its key EMAs, reinforcing the underlying bullish structure and suggesting that the broader trend remains intact.
- APL Apollo Tubes: Buy with a target of Rs 1,950, and a stop-loss of Rs 1,710. The stock has shown a clear breakout from a consolidation range, signalling a revival of bullish momentum and potential resumption of the broader uptrend.
Conclusion
These trading ideas are based on technical analysis and market trends, and are intended to provide a starting point for your investment decisions. Always do your own research and consider your own risk tolerance before investing in the stock market.