The benchmark indices staged a strong performance on April 17, driven by banking and financial services stocks. The Nifty 50 rallied 1.77 percent, while market breadth remained positive for the fourth consecutive session. A total of 1,638 shares witnessed buying interest compared to 919 shares that were under pressure on the NSE. The mood on Dalal Street is likely to remain optimistic in the upcoming sessions. Below are some trading ideas for the near term:

Hardik Matalia, Derivative Analyst at Choice Broking

Central Depository Services | CMP: Rs 1,241.9

CDSL is consolidating within a tight range near its demand zone after experiencing a sharp decline of nearly 47 percent from its peak levels. This prolonged consolidation phase suggests a potential base-building process, with the price stabilizing and preparing for a directional move. The stock is now on the verge of breaking out of this consolidation zone, supported by consistent trading volumes—indicating accumulation at lower levels. A sustainable move above Rs 1,260 could confirm the breakout and potentially trigger a short-term upside toward Rs 1,350.

Momentum indicators support this view. The Relative Strength Index (RSI) stands at 56.23, currently trading within a range but showing early signs of upside potential. Additionally, the Stochastic RSI is indicating the possibility of a price breakout, further reinforcing the bullish bias and pointing toward strengthening underlying momentum. From a price action standpoint, the structure suggests that buyers are gradually regaining control. The stock's proximity to key support levels adds to the risk-reward attractiveness of the setup.

Strategy: Buy

Target: Rs 1,350

Stop-Loss: Rs 1,180

Power Grid Corporation of India | CMP: Rs 309

Power Grid Corporation has successfully broken out from a rounding bottom pattern on the daily chart. The breakout is supported by strong volumes, confirming bullish intent. With the stock holding above the key breakout zone of Rs 310, the momentum suggests potential upside toward the next resistance levels at Rs 340 and Rs 350. On the downside, Rs 300 acts as a strong support, offering a favourable risk-reward entry zone on minor pullbacks.

Momentum indicators reinforce the bullish view. The RSI is at 69, reflecting strong upward momentum while nearing overbought territory. Importantly, the price is trading well above the 20-day, 50-day, and 200-day EMAs, indicating a healthy and sustained uptrend. Any short-term dip is likely to be absorbed quickly due to ongoing buying interest.

Strategy: Buy

Target: Rs 350

Stop-Loss: Rs 290

Oberoi Realty | CMP: Rs 1,640.7

Oberoi Realty has recently broken out of a prolonged consolidation phase near key support zones, signaling the end of accumulation and the beginning of a potential uptrend. The stock has confirmed a bullish breakout from a well-defined Double Bottom pattern on the daily timeframe—an established reversal formation.

Simultaneously, it has also broken out of a Descending Triangle pattern, further validating the strength of the breakout. The breakout is supported by encouraging price action, with the stock rebounding strongly from lower levels and successfully crossing above its short-term EMA (20-day). It is now approaching the medium-term EMA (50-day), and a decisive move above this could pave the way toward testing the long-term EMA (200-day)—a development that would reinforce the shift from consolidation to a sustained uptrend.

The RSI is at 54.70, trending upward and indicating improving momentum with ample room for further gains. The convergence of breakout patterns, improving volume participation, and the shift in EMA alignment all support a bullish bias in the near term. With the breakout now confirmed, a sustained move above Rs 1,660 strengthens the case for a continued rally toward the Rs 1,750–?1,800 zone, aligning with previous supply areas and technical resistance.

Strategy: Buy

Target: Rs 1,800

Stop-Loss: Rs 1,560

Rajesh Bhosale, Technical Analyst at Angel One

Bharat Dynamics | CMP: Rs 1393.2

Over the past seven months, Bharat Dynamics has been consolidating within a range. However, after establishing a base near the 89-week EMA (Exponential Moving Average), it has now witnessed a strong bullish breakout in the form of a Double Bottom pattern. This breakout is further validated by a bullish gap on the weekly chart, which qualifies as a breakaway gap. Additionally, the RSI Smoothened has crossed above the 60 mark, signalling strong bullish momentum in this counter. Hence, we recommend buying Bharat Dynamics around Rs 1,393–Rs 1,385.

Strategy: Buy

Target: Rs 1,530

Stop-Loss: Rs 1,322

Bharat Heavy Electricals | CMP: Rs 227.39

On the daily chart, a strong bullish reversal is underway in BHEL with the breakout of an Inverse Head and Shoulders pattern, indicating the start of a higher top–higher bottom price structure. Adding to the bullish sentiment, there’s a bullish crossover between the 20 and 50 DEMA, while the breakout is backed by robust volume—reinforcing the strength of the move. Hence, we recommend buying BHEL around Rs 227–Rs 225.

Strategy: Buy

Target: Rs 247

Stop-Loss: Rs 216

GRM Overseas | CMP: Rs 323

GRM Overseas has confirmed a long-term breakout from a classic Cup and Handle pattern, following a consolidation phase lasting over two years. The volume behaviour aligns perfectly with the pattern, rising during up moves and tapering off during declines—signaling strong accumulation by strong hands. Moreover, the price is trading well above all key moving averages, reflecting a robust uptrend across major timeframes. Hence, we recommend buying GRM Overseas around Rs 323–Rs 320.

Strategy: Buy

Target: Rs 356

Stop-Loss: Rs 306

Om Mehra, Technical Research Analyst at Samco Securities

NTPC | CMP: Rs 364

After a brief consolidation, NTPC has broken out of a bullish flag pattern, supported by a higher-low formation. The stock is trading above the 9, 20, and 50-day moving averages, indicating a strengthening short-term outlook. It has also surpassed the trendline resistance drawn from recent highs, reinforcing the continuation of the uptrend. The daily RSI is hovering around 63, maintaining a positive bias, while volumes have remained steady. The setup points to a potential continuation toward higher levels, supported by strong price action. Hence, based on this technical structure, one can initiate a long position at the CMP of Rs 364.

Strategy: Buy

Target: Rs 385

Stop-Loss: Rs 350

Five Star Business Finance | CMP: Rs 785.55

Five-Star Business Finance has given a breakout from a downward-sloping trendline that it held for several weeks, signalling a strong shift in momentum. The breakout is accompanied by a wide bullish candle and supportive volume action, indicating buying interest at higher levels.

The price is now sustaining above key short-term moving averages (9 EMA and 20 SMA) and has crossed above the 50-day SMA, improving the short-term structure significantly. The pattern resembles a Descending Triangle breakout on the daily chart.

The daily RSI has moved past the 60 mark and continues to trend upward, confirming strengthening momentum. A follow-through move above Rs 800 could open room for further upside as the stock emerges from a prolonged consolidation phase.

Strategy: Buy

Target: Rs 840

Stop-Loss: Rs 750

Indus Towers | CMP: Rs 397.90

Indus Towers has witnessed a breakout above the key horizontal resistance of Rs 390 following steady momentum. It has formed a saucer pattern, and the breakout is accompanied by a strong bullish candle with a close near the day’s high, confirming strong buying interest. The stock is currently trading above all key moving averages. The daily RSI is trending above the 70 mark, while the MACD histogram remains in positive territory, reflecting underlying strength. Sustained price action above Rs 400 could pave the way for further upside in the coming sessions.

Strategy: Buy

Target: Rs 430

Stop-Loss: Rs 380

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Eternal (Zomato) | CMP: Rs 231.6

On the daily chart, Eternal has confirmed a "descending triangle" breakout at Rs 223 levels on a closing basis, indicating a short-term trend reversal. This breakout is accompanied by strong volumes, signaling increased participation. The daily RSI's positive crossover indicates rising strength in the accumulation zone. The stock is well-placed above its 20- and 50-day SMAs, which reconfirms bullish sentiment. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 251, Rs 265

Stop-Loss: Rs 218

Avenue Supermarts (DMart) | CMP: Rs 4,357.1

On the weekly chart, Avenue Supermarts has decisively broken out past the 6–8 weeks' "multiple resistance" zone of Rs 4,200 on a closing basis, signaling a strong comeback of bulls. The weekly "Bollinger Band" buy signal shows increased momentum. Friday's sharp volume spike indicates increased participation at the breakout zone. The daily, weekly, and monthly strength indicators, RSI, are in positive territory, suggesting buying may occur at current levels. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 4,785, Rs 4,900

Stop-Loss: Rs 4,200

Grasim Industries | CMP: Rs 2,760.7

On the weekly chart, Grasim has observed a "down-sloping channel" breakout, indicating the resumption of the prior uptrend. The stock has confirmed higher tops and bottoms on both the daily and weekly charts, indicating a positive bias. It is well-placed above its 20-, 50-, 100-, and 200-day SMAs, reaffirming bullish sentiment. The daily and weekly strength indicators, RSI, are in positive territory, suggesting buying may occur at current levels. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 2,875, Rs 2,950

Stop-Loss: Rs 2,700