The benchmark indices bounced back with over a percent gain following short covering on March 16, but market breadth remains weak amid geopolitical tensions. About 2,040 shares declined against 964 advancing shares on the NSE. The market needs follow-up buying interest and a sustainable close above the previous week's high for stability. Below are some short-term trading ideas to consider:

Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan

BSE | CMP: Rs 2,862.6

BSE has formed a bullish flag pattern and is expected to break out on the upside. The daily momentum indicator has given a fresh bullish crossover, and the stock is trading above the key daily averages, suggesting strength in the short term. Buy BSE March Futures between Rs 2,860-2,870.

Strategy: Buy

Target: Rs 2,980, Rs 3,070

Stop-Loss: Rs 2,760

Power Finance Corporation | CMP: Rs 406.25

Power Finance Corporation has been consolidating above the 200 DEMA and is expected to break out on the upside. The daily momentum indicator has given a positive crossover. Additionally, the stock has been forming higher tops and higher bottoms on weekly charts, indicating that the uptrend is intact in the medium term. Buy PFC March Futures at around Rs 403-400.

Strategy: Buy

Target: Rs 412, Rs 428

Stop-Loss: Rs 392

Linde India | CMP: Rs 7,172.5

Linde India broke out above its crucial resistance level of Rs 6,950 with good volumes and has consolidated above it despite weak market conditions. A bullish crossover on the daily momentum indicator on March 12 indicates the potential for a fresh upmove in the short term. Buy Linde India at around Rs 7,172.5.

Strategy: Buy

Target: Rs 7,600, Rs 7,870

Stop-Loss: Rs 6,940

Jay Thakkar, Head of Derivatives and Quant Research and Vice President at ICICI Securities

Reliance Industries | CMP: Rs 1,395.1

Reliance has been relatively resilient in the near term during the recent fall in the Nifty 50, thereby outperforming in the short term. From here on, it is likely to bounce back towards Rs 1,430-1,460 levels, although there has been significant Call writing at Rs 1,400-1,450 levels. With a recovery in the markets, the probability of an upside cannot be ruled out. Buy Reliance Futures in the range of Rs 1,390-1,400.

Strategy: Buy

Target: Rs 1,430, Rs 1,460

Stop-Loss: Rs 1,340

NHPC | CMP: Rs 75.27

NHPC has formed an ending diagonal pattern and has shown good resilience during the overall market fall. Along with this, there has been clear short covering in the futures, which confirms a higher probability of an upside.

There has been significant Put writing at the lower levels of Rs 75 to Rs 70, indicating good support, whereas until Rs 80 there is no major Call writing, suggesting that bulls have an upper hand in the near term. The stock is also trading above its maximum pain level of Rs 75, thus increasing the upside possibility in the near term. Buy NHPC Futures in the range of Rs 74-76.

Strategy: Buy

Target: Rs 80, Rs 83

Stop-Loss: Rs 72

PB Fintech | CMP: Rs 1,475.3

PB Fintech has been outperforming the markets for the past couple of days, as it has not formed a fresh low despite the overall market doing so. There has been a clear positive divergence in its daily momentum, along with short covering, thus increasing the upside probability.

There have been strong Put additions from Rs 1,500 to Rs 1,400 strikes, and the stock is trading near its maximum pain level of Rs 1,480. A break above this level will increase further upside in the stock due to short covering. Buy PB Fintech Futures in the range of Rs 1,470-1,480.

Strategy: Buy

Target: Rs 1,550, Rs 1,620

Stop-Loss: Rs 1,425

Jigar S Patel, Senior Manager - Equity Research at Anand Rathi

Bajaj Finance | CMP: Rs 878.15

Bajaj Finance has formed a candlestick pattern close to a Bullish Engulfing, indicating emerging buying interest near current levels. Notably, the open and low of the current candle are the same, suggesting strong demand from the start of the session and limited selling pressure.

On the momentum front, the RSI has formed a V-shaped recovery from the oversold zone, highlighting a potential shift in short-term momentum. Additionally, trading volume has surpassed the 20-day average volume, which is an encouraging sign as it reflects strong participation from buyers.

Collectively, these technical signals indicate improving sentiment and the possibility of a near-term upward move if follow-through buying continues. Traders may consider entering long positions in the Rs 880-870 zone, with a target of Rs 930.

Strategy: Buy

Target: Rs 930

Stop-Loss: Rs 848

HDFC Bank | CMP: Rs 840.6

HDFC Bank has shown a constructive development on the hourly chart. After almost a month, the stock has broken above a falling trendline, indicating a potential shift in short-term momentum. The breakout is further supported by a bullish divergence on the RSI, suggesting improving strength despite earlier weakness in price action.

Additionally, the RSI has closed above its previous swing high along with the price breakout, which reinforces the bullish signal. This alignment between price action and momentum indicators reflects increasing buying interest.

Overall, the combination of a trendline breakout and RSI confirmation hints at the possibility of a short-term upside move, provided the stock sustains above the breakout zone with continued follow-through buying. Traders may consider entering long positions in the Rs 840-830 zone, with a target of Rs 880.

Strategy: Buy

Target: Rs 880

Stop-Loss: Rs 812

Mahindra and Mahindra | CMP: Rs 3,036.1

Mahindra & Mahindra has shown signs of potential stabilization after a sharp decline from the recent top. The stock has formed a Bullish Engulfing candlestick pattern near the previous breakout zone of April 2025, which may act as an important support area.

On the momentum front, the RSI has formed an impulsive V-shaped recovery from the oversold zone below 30, indicating a possible short-term momentum shift. Additionally, the DMI indicators appear extremely stretched, suggesting that the recent selling pressure may cool off in the near term.

Collectively, these signals indicate the possibility of a technical pullback or relief rally in the short term, provided the support zone continues to hold. Considering the alignment of multiple indicators, the setup favours a bullish outlook. Traders may consider entering long positions in the Rs 3,030-3,000 zone, with a target of Rs 3,250.

Strategy: Buy

Target: Rs 3,250

Stop-Loss: Rs 2,890

Vidnyan S Sawant, Head of Research at GEPL Capital

MRPL | CMP: Rs 206.77

Mangalore Refinery and Petrochemicals has demonstrated robust structural development, with a polarity shift where the previous resistance levels of the 2008 and 2017 swing highs are now acting as key support. Following this breakout, the stock continues to trend higher, forming higher highs and higher lows, indicating a sustained uptrend.

Despite broader market volatility, the stock has exhibited strong relative strength, highlighting resilient buying interest. Furthermore, the MACD momentum indicator remains in buy mode, reinforcing the presence of sustained bullish momentum.

Strategy: Buy

Target: Rs 237

Stop-Loss: Rs 195

Kirloskar Oil Engines | CMP: Rs 1,470.2

Kirloskar Oil Engines has been forming a higher top–higher bottom structure since March 2025, indicating a sustained uptrend. In the recent phase, the stock has demonstrated strong relative strength despite broader market weakness, highlighting resilient buying interest.

The stock remains well positioned above its key 12-week and 26-week EMAs, confirming underlying trend strength. Additionally, the MACD indicator is in positive territory and trending higher, signaling acceleration in upside momentum.

Strategy: Buy

Target: Rs 1,587

Stop-Loss: Rs 1,396

CCL Products | CMP: Rs 1,043.3

CCL Products has been in a rising trend since April 2025, remaining well positioned above its 26-week EMA, which indicates underlying trend strength. On the daily timeframe, the stock is forming a base pattern, suggesting healthy consolidation within the broader bullish trend.

Additionally, the RSI momentum indicator is around 62, reflecting sustained bullish momentum and the potential continuation of the upward move.

Strategy: Buy

Target: Rs 1,116

Stop-Loss: Rs 990