Stocks to buy for short term: From SBI, ICICI Bank to LIC Housing Finance— experts suggest 6 stock picks

Mint

22-04-2025

Stocks to buy for short term: Indian stock market has been enjoying a healthy run over the last five consecutive sessions. In these five sessions of gains, the Sensex has jumped 5,561 points, or 7.5 per cent, the Nifty 50 has gained 1,726 points, or 7.7 per cent and investors have become richer by about ₹ 32 lakh crore.
On Monday, April 21, the Nifty 50 reclaimed 24,125. Experts expect the index to reach 24,450–24,500 in the short term.
"The Nifty 50 has given a clean breakout above the previous swing high on the daily chart as optimism among investors increases. Sentiment is expected to remain positive as long as the index sustains above the critical moving average. Moreover, the Nifty has moved above the critical resistance of 24,100. Therefore, it looks well on track to reach the 24,450–24,500 zone in the short term. On the lower end, support is placed at 23,850," said Rupak De, Senior Technical Analyst at LKP Securities.
Experts say one should focus on quality stocks and avoid aggressive bets. Vishnu Kant Upadhyay of Master Capital Services and Hardik Matalia of Choice Broking recommend buying the following six stocks for the next 2-3 weeks. Take a look:
SBI has witnessed a decisive breakout from a well-formed inverse head and shoulders pattern on the daily chart, signalling a strong bullish reversal.
The neckline breakout above ₹ 780 was accompanied by a sharp surge in volume and price, confirming buying strength.
The stock has closed above both its 50-day and 200-day EMAs, reinforcing the bullish momentum.
"With the price now sustaining above the neckline support, further upside toward the ₹ 850, ₹ 860 levels looks likely. The pattern also indicates improved investor sentiment and a potential trend reversal from recent consolidation," said Upadhyay.
ICICI Bank has given a bullish breakout above the resistance level of ₹ 1,350-1,360, supported by strong volumes and momentum.
The price has sustained well above all key EMAs (21, 55, 100, and 200), indicating a strong uptrend. RSI is near 72, reflecting bullish strength without overbought exhaustion.
MACD crossover remains positive with rising histogram bars, further validating upward momentum.
"The breakout from a multi-month consolidation suggests fresh buying interest and potential for a sustained rally. As long as the stock holds above ₹ 1,320, it may head toward ₹ 1,520 and ₹ 1,540 in the near term. Buy-on-dips strategy is recommended," Upadhyay said.
LIC Housing Finance has confirmed a classic inverse head and shoulders breakout on the daily chart, indicating a strong bullish reversal pattern.
The stock has broken above the neckline near ₹ 580 and is now trading above all major EMAs, reinforcing trend strength.
The RSI is at 65, showing bullish momentum, while the MACD has given a fresh positive crossover.
"Sustained price action above the neckline could lead to further upside towards ₹ 658 and then ₹ 675 in the near term. Near-term support aligns around ₹ 562. With improving structure and buying volume, the stock offers a favourable risk-reward opportunity for positional traders," said Upadhyay.
MapmyIndia has been consolidating within a wide range after a sharp decline of nearly 45 per cent from its peak. This extended base formation near the lower end of the range signals accumulation and a possible trend reversal.
"The stock is now approaching a crucial resistance at ₹ 1,800, and a sustained move above this level could confirm a breakout, paving the way for a near-term rally toward the ₹ 1,950– ₹ 1,985 zone," said Matalia.
The stock has rebounded well from lower levels and is now trading above its short-term (20-day) and medium-term (50-day) EMAs, while nearing its long-term (200-day) EMA. Matalia believes a close above this long-term average would further strengthen the bullish case.
The RSI stands at 64.82 and is trending upwards, indicating rising momentum and growing buying interest.
"Traders can consider buying at the current level of ₹ 1,787.50 with a stop loss at ₹ 1,705. A breakout above ₹ 1,800 could unlock further upside, making it an attractive opportunity for short-term gains and positional buying," said Matalia.
After a prolonged bearish phase, IFCI is now consolidating in a narrow range, signalling potential accumulation near lower levels.
The recent price action indicates early signs of a reversal, supported by buying interest from the bottom, hinting at a shift in sentiment.
"A decisive and sustainable move above the ₹ 46 mark would confirm a breakout from this consolidation phase, potentially triggering a fresh up move toward the ₹ 51.50– ₹ 52.50 zone in the near term," said Matalia.
The stock has rebounded from lower levels and has already surpassed its short-term (20-day) EMA.
It is now approaching its medium-term (50-day) EMA, and a successful breach could pave the way toward testing its long-term (200-day) EMA—further strengthening the bullish outlook.
The RSI stands at 55.89 and is trending upwards, reflecting building momentum and improving strength.
"Traders can consider buying at the current market price of ₹ 45.48 with a stop loss at ₹ 42.50. A breakout above ₹ 46 could unlock further upside, making it attractive for short-term gains," Matalia said.
Manyavar witnessed a steep decline of nearly 50 per cent from its highs. After this correction, the stock moved sideways, forming a base near the lower levels, which indicates possible accumulation and a pause in the downtrend.
"The recent price action suggests the stock is attempting to break out of this consolidation range. A sustained move above ₹ 825 would confirm the breakout and could lead to a bounce towards the near-term resistance zone of ₹ 890– ₹ 910," said Matalia.
Technically, Manyavar is now trading above its short-term (20-day) EMA and is approaching its medium-term (50-day) EMA. A successful breach of the medium-term average would further validate the reversal setup and strengthen the bullish sentiment.
The RSI is at 50.27 and shows signs of an upward reversal, improving momentum and growing buying interest.
"Traders may consider buying at the current price of ₹ 802.30 with a stop loss at ₹ 757. A breakout above ₹ 825 could unlock further upside, offering a favourable risk-reward setup in the short term," said Matalia.
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
First Published: 22 Apr 2025, 08:43 AM IST