Equity benchmarks extended their northward journey for the fifth consecutive session, rising by one-third of a percent on June 18 amid supportive market breadth. About 1,713 shares advanced, compared to 1,291 declining shares on the NSE. The market may give up some gains due to profit booking after the five-day rally. However, the overall trend remains positive. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

GAIL India | CMP: Rs 176.44

GAIL has given a strong breakout above a long-term resistance trendline on Monday. The price is now trading above all key moving averages, with upward-sloping trends. It has formed a bullish reversal pattern on both the daily and weekly charts. The breakout was supported by strong volume expansion, confirming robust buyer participation. Momentum and trend indicators remain aligned with a bullish bias.

Strategy: Buy

Target: Rs 186, Rs 195

Stop-Loss: Rs 165

Action Construction Equipment | CMP: Rs 976.45

ACE has broken out above its long-term moving averages in recent sessions. The price is now trading comfortably above all key EMAs. Strong positive volume build-up is visible, indicating increasing participation.

On the weekly chart, the stock has formed a double-bottom pattern with positive divergence in momentum indicators. Both momentum and trend indicators support a bullish bias on the daily and weekly timeframes.

Strategy: Buy

Target: Rs 1,070, Rs 1,134

Stop-Loss: Rs 888

Niva Bupa Health Insurance Company | CMP: Rs 87.09

Niva Bupa is trading in a bullish structure with higher highs and higher lows, consistently taking support at the 20-day EMA. In the latest session, the stock broke above its recent consolidation range and cleared the Rs 86.5 resistance zone.

The price is trading above all key moving averages, with upward-sloping trends. Strong positive volume was witnessed in the latest session, while momentum indicators remain in bullish territory with a fresh MACD bullish crossover.

Strategy: Buy

Target: Rs 94.5, Rs 96

Stop-Loss: Rs 82

Om Mehra, Technical Research Analyst at Samco Securities

Bajaj Holdings and Investment | CMP: Rs 10,676

Bajaj Holdings has resumed its upward move and is now sustaining above the Rs 10,550 zone, which had capped the stock throughout May. The recovery comes after the formation of a double-bottom pattern on the daily chart, indicating a potential trend reversal. The stock is trading comfortably above its 20-day and 50-day SMAs, both of which are gradually turning higher, reflecting an improving near-term trend. Volumes have also picked up alongside the recent price advance, adding conviction to the move.

The RSI is placed near 60, reflecting strengthening momentum. The MACD has turned positive with a fresh bullish crossover, further supporting the ongoing recovery. The NBFC and holding company space has also witnessed renewed strength, providing additional support to the overall setup.

Strategy: Buy

Target: Rs 11,400

Stop-Loss: Rs 10,350

ITC Hotels | CMP: Rs 161.13

ITC Hotels has moved above its long-term falling trendline, signalling a significant improvement in the technical structure after several months of persistent decline. The stock is now trading above its 50-day SMA, which is gradually turning higher and providing support to the ongoing recovery. The Rs 164 zone, which previously acted as a resistance area, remains the immediate hurdle to watch. Volumes have also picked up alongside the recent advance, indicating improving participation and strengthening investor interest.

The RSI is placed near 60, reflecting strengthening momentum following a prolonged consolidation and corrective phase. The MACD has turned positive with a fresh bullish crossover, further reinforcing the improving trend.

Strategy: Buy

Target: Rs 175

Stop-Loss: Rs 153

Lupin | CMP: Rs 2,327.10

Lupin has broken above its descending trendline over the last two to three sessions after being capped in the Rs 2,270–Rs 2,300 range. The recent strong bullish candle closed decisively above this trendline, supported by a pick-up in volumes. The stock is also trading above its 50-day SMA and is on the verge of filling the gap created in mid-May.

The RSI has moved sharply higher to around 59, while the MACD has turned positive with a fresh bullish crossover. The pharma sector has also remained resilient, lending support to the overall setup.

Strategy: Buy

Target: Rs 2,480

Stop-Loss: Rs 2,230

Hitesh Tailor, Technical Research Analyst at Choice Broking

Vardhman Textiles | CMP: Rs 661.4

Vardhman Textiles is showing strong bullish momentum after delivering a higher-high breakout, which also marks a breakout from a sideways consolidation range, indicating the potential continuation of the ongoing uptrend. The stock has taken support near its 20-day EMA, where buying interest remains evident.

The stock continues to form a higher high-higher low structure, supported by rising EMAs, reflecting sustained strength and positive trend momentum. The RSI remains above the midpoint, signalling continued bullish momentum. Based on the current technical setup, traders may consider buying at CMP with a strict stop-loss at Rs 630.

Strategy: Buy

Target: Rs 730

Stop-Loss: Rs 630

Engineers India | CMP: Rs 253.15

Engineers India is showing improving bullish momentum after delivering a range breakout aligned with an ascending triangle breakout on the daily chart, signalling the continuation of the prevailing uptrend. The stock is holding above all key EMAs, reflecting a strong technical structure. The RSI has rebounded from lower levels and is now moving higher after taking support near the midpoint, indicating strengthening momentum and renewed buying interest.

Immediate support is placed near Rs 245, the breakout zone, while Rs 240 should be maintained as a strict stop-loss. Short-term traders may consider buying at CMP for a potential upside target of Rs 275.

Strategy: Buy

Target: Rs 275

Stop-Loss: Rs 240

BHEL | CMP: Rs 405.9

Bharat Heavy Electricals is showing bullish momentum after a breakout from a bullish flag continuation pattern, indicating the potential continuation of its ongoing uptrend. The stock is trading above all key short- and medium-term EMAs, reflecting strong trend strength and sustained buying interest.

The RSI stands at 59.47 and has rebounded from lower levels to move above the midpoint, signalling improving momentum. The current breakout structure supports further upside potential. Short-term traders may consider buying at CMP for a potential target of Rs 445, with a strict stop-loss at Rs 385.

Strategy: Buy

Target: Rs 445

Stop-Loss: Rs 385