Stocks to buy for short term: From ACC, Naukri to Persistent Systems— experts suggest THESE 6 stock picks
Stocks to buy for the short term: A day after surging nearly 4 per cent, boosted by the ceasefire between India and Pakistan and the US-China trade deal, the Indian stock market benchmark Nifty 50 index fell 1 per cent in morning trade on Tuesday, May 13, due to profit booking.
Experts pointed out that the rally on Monday could be due to short-covering, as indicated by the trends of FII and DII buying.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, pointed out that a sharp 916-point surge in Nifty on Monday was not caused by institutional activity.
"The combined FII and DII buying yesterday was only ₹ 2,694 crore. This means the market surge was triggered by short-covering and HNI plus retail buying. This implies that institutional activity is likely to remain subdued in the coming days, which may constrain the continuation of the rally," said Vijayakumar.
Experts expect the market to witness some volatility amid the ongoing earnings season. They suggest investors should buy quality stocks with favourable technical indicators.
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.
Expert: Vishnu Kant Upadhyay, AVP - Research & Advisory at Master Capital Services
Info Edge has delivered a strong breakout above the consolidation zone near 1440, backed by a sharp surge in volume, which confirms buyers' fresh participation.
The stock has decisively crossed its 55-, 100-, and 200-EMA levels, indicating a trend reversal from its recent downtrend.
The RSI has moved above 60, showing strengthening momentum, while the MACD has given a fresh bullish crossover above the zero line, supporting upward continuation.
'Prices are now looking to pave the way for ₹ 1,585 and then ₹ 1,624. However, prices shouldn't fall below ₹ 1,395 to keep the bullish tendency intact,' said Upadhyay.
Kirloskar Brothers has staged a bullish breakout from a falling wedge pattern on the daily chart, signalling a potential trend reversal.
The price has moved decisively above key EMAS (34, 55, 100, and 200), confirming strength in the uptrend.
A 3.35 per cent surge in the latest session, coupled with an RSI above 62, reflects building momentum. Additionally, a bullish MACD crossover supports the positive outlook.
'Prices are likely to extend a rally towards the upper boundary of the wedge near ₹ 2,055 and ₹ 2,090, marking the next key resistance zone,' Upadhyay said.
ACC is showing early signs of a potential bullish reversal with the formation of a double bottom pattern near 1780.
The stock rebounded sharply by 2.6 per cent on Monday from the vicinity of the lower range value of the double bottom pattern, indicating strong buying interest at key support.
Although the price remains below the 200-day EMA, the bounce from the neckline support, improving RSI from oversold territory (now near 41), and early signs of MACD convergence hint at a trend shift.
After hitting its recent peak, Persistent Systems witnessed a bounce back toward its support zones, where it found strong buying interest and bounced back from the lower levels.
Following this recovery, the stock has now broken out of a falling trendline, signalling the resumption of its broader uptrend and renewed bullish momentum.
On the daily timeframe, the stock has formed a strong bullish candle, confirming buying interest and strength at lower levels.
It is currently trading above all its key exponential moving averages — short-term (20-day), medium-term (50-day), and long-term (200-day) — highlighting a robust trend structure and reinforcing the bullish outlook.
The Relative Strength Index (RSI) stands at 68.76 and is trending upwards, indicating strong momentum and sustained buying strength.
This further supports the probability of the stock continuing its upward trajectory.
'Traders may consider buying Persistent at ₹ 5,876.50, with a stop-loss set at ₹ 5,555. A sustained move above ₹ 6,000 could act as a trigger for the next leg of the rally, potentially driving the stock toward the ₹ 6,500– ₹ 6,550 zone in the near term, offering a favourable risk-reward setup for positional trades,' said Matalia.
Dalmia Bharat has been consolidating within a wide trading range over the past few months, indicating a phase of accumulation before a potential directional move.
The stock is now approaching the upper boundary of this range and is on the verge of a breakout, which, if successful, could lead to a strong upside rally.
Technically, Dalmia Bharat is trading above all its key exponential moving averages — short-term (20-day), medium-term (50-day), and long-term (200-day) — reflecting underlying strength and an improving trend structure.
This alignment of moving averages supports the bullish setup and increases the likelihood of a breakout sustaining.
The Relative Strength Index (RSI) is currently placed at 61.55 and is showing signs of reversal along with a potential positive crossover. This suggests increasing buying interest and momentum, further supporting the case for a bullish breakout.
'Traders may consider buying Dalmia Bharat at ₹ 1,980.90, with a stop-loss set at ₹ 1,880. A sustained move above ₹ 2,020 could trigger a fresh leg of rally, with upside potential toward the ₹ 2,180– ₹ 2,200 zone in the short term, offering a favourable risk-reward opportunity for momentum traders,' said Matalia.
AIA Engineering has recently given a breakout from a falling trend line, signalling a potential shift in momentum after a period of consolidation near lower levels.
The stock has also broken out of a narrow trading range, indicating a renewed bullish sentiment and possible trend reversal.
This breakout has been accompanied by the formation of a strong bullish candle on the daily chart, reinforcing buying strength and increasing the probability of continued upside.
Technically, AIA Engineering has bounced back from its lower levels and is now trading above its short-term (20-day) and medium-term (50-day) exponential moving averages, suggesting that the stock is gaining upward traction.
The next key level to watch is the long-term (200-day) EMA, which could act as a potential resistance, but a successful test and breakout above it would further confirm the bullish trend.
The Relative Strength Index (RSI) stands at 56.41 and is trending upwards, indicating strengthening momentum and improving buyer interest. This aligns well with the price action and supports the bullish view.
'Traders may consider buying AIA Engineering at ₹ 3,245.80, with a stop-loss set at ₹ 3,080. On the upside, the stock has the potential to test the ₹ 3,500– ₹ 3,525 zone in the short term, offering an attractive risk-reward setup for traders looking to capitalise on the breakout and ongoing trend strength,' said Matalia.
Read all market-related news here
Read more stories by Nishant Kumar
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.
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