Stocks to buy for short term: From Divi's Labs, IRFC to Concor— experts suggest THESE 5 stock picks
Stocks to buy for the short term: The Indian stock market benchmarks, the Sensex and the Nifty 50, have been in the red over the last two consecutive sessions amid a lack of fresh triggers and mixed Q4 earnings.
The Nifty 50 is struggling to hold the 25,000 mark as the market awaits further clarity on trade negotiations. Geopolitical risks have subsided significantly, but some uncertainty persists. Meanwhile, the RBI and the US Federal Reserve's June policy moves and macroeconomic prints will be key triggers for the markets in the short term.
According to Shrikant Chouhan, the head of equity research at Kotak Securities, 25,000 would act as a trend decider level now. Below this, there could be an intraday correction down to 24,850-24,800.
On the other hand, a breach of 25,000 could change the sentiment. Above this, the market could rally up to 25,100-25,150, said Chouhan.
Experts suggest investors should buy quality stocks with favourable technical indicators at this juncture.
Vishnu Kant Upadhyay of Master Capital Services and Mandar Bhojane of Choice Broking recommend buying the following five stocks for the next two to three weeks.
Divi's Laboratories has decisively broken out of a long-held resistance near ₹ 6,300, backed by strong bullish momentum, a sharp price surge, and rising volume.
The 21-exponential moving averages (EMA) crossing above the 55-EMA confirms a bullish trend shift.
Additionally, the MACD has formed a bullish crossover with expanding histogram bars, reinforcing positive momentum.
This breakout follows a prolonged consolidation phase, suggesting a trend continuation.
"As long as the stock sustains above ₹ 6,200, it remains well-positioned for further upside in the near term," said Upadhyay.
Astral has broken above a long-term falling trendline with strong bullish momentum, supported by a surge in volumes.
The stock has created a strong base and is now reversing, showing promising strength for the days ahead.
The price is trading above the key 21-EMA and 55-EMA, confirming a positive trend.
MACD shows a fresh bullish crossover, reinforcing the upward move. Relative Strength Index (RSI) is at 63, indicating growing momentum while staying below overbought levels.
"With the formation of higher highs on the daily chart, the stock is well-positioned to rally toward ₹ 1,530 and ₹ 1,550 and potentially higher in the near term," Upadhyay said.
IRFC has staged a strong breakout above a long-standing descending trendline resistance, suggesting a bullish reversal from its prior corrective phase.
The stock has broken out of a falling wedge pattern, which is typically a bullish continuation formation.
This breakout is accompanied by a sharp uptick in volumes, reinforcing the strength and credibility of the move.
On the moving averages front, IRFC is trading firmly above both its 100-day EMA and 200-day EMA, reflecting a positive shift in medium- to long-term trend structure.
Notably, the price has managed to sustain above these averages, adding to the bullish conviction.
Concor has recently witnessed a breakout from an ascending triangle pattern on the daily chart, indicating a bullish reversal and the potential continuation of its upward momentum.
This breakout is accompanied by rising trading volumes, highlighting strong buying interest among market participants.
The RSI stands at 65.82 and is trending upwards, further reinforcing the positive sentiment.
On the technical front, the stock is trading above its 20-day, 50-day, and 100-day EMAs, which confirms the strength of the ongoing uptrend.
"A sustained move above the key resistance level of ₹ 760 could pave the way for an upside towards ₹ 850 and ₹ 860 in the near term," said Bhojane.
"Investors may consider entering at the current market price with a stop loss at ₹ 695 to manage downside risk. While the overall outlook remains favourable, it is advisable to maintain a cautious position sizing to navigate potential short-term volatility," Bhojane said.
Usha Martin has recently broken out from a falling trendline, a classic bullish reversal setup. Additionally, the stock has reversed from a key demand zone, forming a double bottom pattern on the weekly chart — a strong technical signal for trend reversal.
This bullish setup is supported by increasing trading volumes, which indicate strong buying interest and reinforce the positive outlook.
Technically, the stock is trading above its 20-day, 100-day, and 200-day EMAs, confirming the strength of the ongoing uptrend.
"A decisive close above ₹ 340 would further validate the bullish trend and may open the door for an upside move towards ₹ 385 and ₹ 400 in the near to medium term," said Bhojane.
"Traders may consider entering at the current market price, with a stop loss at ₹ 310 to manage downside risk effectively. While the technical outlook remains bullish, it is crucial to adopt strict risk management and cautious position sizing to handle potential short-term volatility," Bhojane said.
Astral has shown signs of a potential trend reversal after a steep correction of nearly 50 per cent from its previous highs.
Following the sharp decline, the stock has been consolidating near the lower levels, forming a strong base.
Recently, Astral printed a strong bullish candle on the daily timeframe, suggesting renewed buying interest and growing momentum.
The stock is now on the verge of breaking out of its consolidation range.
"A sustained move above ₹ 1,430 would confirm the breakout and could lead to further upside in the near term," Bhojane said.
The stock is holding well above its short-term (20-day) and medium-term (50-day) EMAs, indicating improving strength. If the breakout sustains, a move toward the long-term (200-day) EMA is likely.
The RSI is at 63.32 and trending upwards, confirming rising momentum and buyer participation.
"Traders may consider buying Astral shares at ₹ 1,419.10, with a stop loss at ₹ 1,350. On the upside, the stock has the potential to test the ₹ 1,550– ₹ 1,580 zone, offering an attractive risk-reward setup," said Bhojane.
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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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