The stock market has been under pressure for the third consecutive day, with the Nifty 50 declining 0.16 percent. Despite this, there are several trading opportunities that can help boost your portfolio before the year-end. In this article, we will explore 10 short-term trading ideas that can help you make the most of the current market trends.
Market Outlook
The market is expected to continue consolidating until it trades above short-term moving averages. However, there are several stocks that are showing strong bullish momentum and are likely to break out in the near term.
Trading Ideas
Here are 10 trading ideas that you can consider:
- Granules India: Buy with a target of Rs 630 and a stop-loss of Rs 552. The stock is approaching a significant breakout from its multi-month falling trendline and is trading comfortably above its short-term and long-term moving averages.
- SRF: Buy with a target of Rs 3,250 and a stop-loss of Rs 2,930. The stock has formed a strong base and has broken out from an inverse Head and Shoulders pattern on the daily chart.
- SBI Cards and Payment Services: Sell with a target of Rs 780 and a stop-loss of Rs 860. The stock has confirmed a fresh breakdown from a symmetrical triangle pattern on the daily chart and has moved below its 100-DMA and 200-DMA.
- IDFC First Bank: Buy with a target of Rs 89 and a stop-loss of Rs 80. The stock has delivered a decisive horizontal trendline resistance breakout and has successfully sustained above the breakout level for two consecutive sessions.
- Pricol: Buy with a target of Rs 700 and a stop-loss of Rs 630. The stock has witnessed a decisive breakout from the Rs 590–639 range and is trading comfortably above its 20-day EMA.
- Oberoi Realty: Sell with a target of Rs 1,500 and a stop-loss of Rs 1,660. The stock has been consolidating in the Rs 1,595–1,706 range and has consistently failed to move decisively above the midline of the Bollinger Bands.
- Mahindra and Mahindra Financial Services: Buy with a target of Rs 370 and a stop-loss of Rs 340. The stock has given a consolidation breakout on the 2-hourly chart and is trading above the 21 EMA.
- Titan Company: Buy with a target of Rs 4,140 and a stop-loss of Rs 3,840. The stock has given a falling channel breakout on the 2-hourly chart and is sustaining above the 21 EMA.
- Bajaj Auto: Sell with a target of Rs 8,600 and a stop-loss of Rs 9,050. The stock has witnessed a slip below its recent consolidation and has fallen below the crucial 50 EMA.
- Other stocks to watch: Other stocks that are showing strong bullish momentum and are likely to break out in the near term include ITC, Axis Bank, and ICICI Bank.
Disclaimer
Remember, this is a perspective, not a prediction. Do your own research and consult with a financial advisor before making any investment decisions. The stock market can be volatile, and there are no guarantees of returns. Always trade with caution and never risk more than you can afford to lose.