The benchmark indices continued their relief rally for the fourth consecutive day, rising nearly seven-tenths of a percent on April 7, with positive market breadth. About 1,924 shares saw buying interest compared to 1,061 declining shares on the NSE. The sustainability of the ongoing recovery is a key factor to watch in the upcoming sessions amid geopolitical tensions. Below are some short-term trading ideas to consider:

Ashish Kyal, Founder and CEO of Waves Strategy Advisors

Laurus Labs | CMP: Rs 1,057.45

Laurus Labs has been consolidating within a symmetrical triangle pattern over the past three months. In recent weeks, the stock has shown a higher high–higher low structure, with most sessions closing in the green, indicating strengthening bullish sentiment.

Momentum indicators remain supportive, with a consistent formation of green histograms following a bullish crossover in the MACD, indicating rising upward momentum.

Currently, prices are trading near the upper boundary of the triangle, hinting at a potential breakout. A decisive move above Rs 1,075 is required, which can lift prices towards Rs 1,110, followed by Rs 1,150. On the downside, Rs 1,040 is the nearest support level.

Strategy: Buy

Target: Rs 1,110, Rs 1,150

Stop-Loss: Rs 1,040

Schneider Electric Infrastructure | CMP: Rs 927.45

Schneider Electric has been trading in a broad consolidation range of Rs 830–950 on the daily chart since January 18, indicating an ongoing accumulation phase. In the previous week, the stock successfully retested its 50-period EMA on March 30 and witnessed a strong upside reversal, highlighting buying interest at lower levels.

Additionally, the daily RSI continues to hover around the 60 mark, suggesting there is still room for further upside movement. A break above Rs 950 can push prices higher towards Rs 985, followed by Rs 1,025, while immediate support is placed around Rs 910.

Strategy: Buy

Target: Rs 985, Rs 1,025

Stop-Loss: Rs 910

Welspun Corp | CMP: Rs 879.15

Welspun Corp has, over the past two trading sessions, been closing above its prior day’s high after taking support at the middle Bollinger Band, which is a sign of renewed buying. Additionally, prices have broken out above the previous swing high of Rs 869.8 in the previous session, reinforcing the bullish outlook.

The expansion in Bollinger Bands further signals rising volatility and acts as confirmation of the breakout. The stock has already retraced 61.8% of the fall that began in November 2025. A further break above the prior day’s high near Rs 884 can push prices towards Rs 930 (78.6% retracement), followed by Rs 960, with support at Rs 850.

Strategy: Buy

Target: Rs 930, Rs 960

Stop-Loss: Rs 850

Amol Athawale, VP technical Research at Kotak Securities

DCB Bank | CMP: Rs 174.36

DCB Bank, after a declining trend, reversed from its important support zone. The stock has formed a higher low series pattern on the daily scale and is in a steady uptrend.

The technical indicator RSI is also signalling a further uptrend from current levels, which could boost bullish momentum in the coming period. As long as the stock trades above Rs 167, the bullish bias is likely to continue, with potential upside towards Rs 186.

Strategy: Buy

Target: Rs 186

Stop-Loss: Rs 167

Jindal Steel | CMP: Rs 1,168.2

Jindal Steel rebounded from its support zone after declining from higher levels and witnessed a sharp recovery from the lows. Additionally, on the daily charts, the stock has given a breakout from a sloping channel formation.

The upward move suggests the beginning of a new leg of a bullish trend. For the next few trading sessions, Rs 1,122 could act as the trend-deciding level for bulls. If the stock sustains above this level, it may move towards Rs 1,245.

Strategy: Buy

Target: Rs 1,245

Stop-Loss: Rs 1,122

Tech Mahindra | CMP: Rs 1,473.4

On the weekly scale, Tech Mahindra is in a rising channel formation with a higher high–higher low structure. The stock has witnessed a steady recovery from the accumulation zone. Additionally, the RSI indicates a further uptrend from current levels, which could support bullish momentum in the near term.

For positional traders, Rs 1,415 will be the decisive level. If the stock trades above this level, the uptrend may continue towards Rs 1,570. However, if it closes below Rs 1,415, traders may consider exiting long positions.

Strategy: Buy

Target: Rs 1,570

Stop-Loss: Rs 1,415

Aditya Thukral, Founder & Analyst of AT Research & Risk Managers

Indian Energy Exchange | CMP: Rs 126.97

Indian Energy Exchange has bounced towards the supply zone and is now exhibiting a negative reversal pattern, with prices making a lower high while the RSI forms a higher high. The stock remains in a long-term downtrend, characterised by lower highs and lower lows. It continues to trade below the 100-day and 200-day EMAs, both of which are trending downward.

Any bounce in stocks that are in a long-term downtrend typically rewards short sellers and provides exit opportunities for investors. Previous support levels are now acting as resistance, in line with the principle of polarity.

The stock can be sold in the futures segment at the current price of Rs 127 or on a bounce towards Rs 129, as it is exhibiting a negative reversal pattern.

Strategy: Sell

Target: Rs 119.50, Rs 117

Stop-Loss: Rs 132