Equity benchmarks shed over 2 percent on March 27 after a two-day relief rally, following the West Asia crisis and elevated oil prices. Market breadth weakened, with 2,668 shares declining against 374 advancing on the NSE. The market may attempt a rebound after a sharp correction, but sustainability is key to watch. Below are some short-term trading ideas to consider:

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

Granules India | CMP: Rs 624.35

On the daily and weekly timeframes, Granules India is trending higher, forming a series of higher tops and bottoms, which indicates an uptrend. The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These rising averages reconfirm bullish sentiment.

Rising volumes over the past couple of weeks signify increased participation. The daily and weekly Bollinger Band buy signals indicate increased momentum. The daily, weekly, and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all timeframes.

Strategy: Buy

Target: Rs 670, Rs 700

Stop-Loss: Rs 600

Federal Bank | CMP: Rs 269.3

Based on the price action over the past couple of weeks, Federal Bank has shown buying interest around the Rs 255–252 levels, indicating a support zone. The weekly price action has formed a sizable bullish candle with a long lower shadow, indicating buying support at lower levels. The daily RSI is in positive territory, indicating rising strength.

Strategy: Buy

Target: Rs 280, Rs 293

Stop-Loss: Rs 265

Emcure Pharmaceuticals | CMP: Rs 1,652.7

With last week’s price action, Emcure Pharma decisively surpassed the “multiple resistance” zone of Rs 1,590, accompanied by huge volumes, indicating increased participation. The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These rising averages reconfirm bullish sentiment. Rising volumes over the past three weeks signify increased participation.

The daily, weekly, and monthly RSI is in favourable territory, indicating rising strength across all timeframes. The daily and weekly Bollinger Band buy signals indicate increased momentum.

Strategy: Buy

Target: Rs 1,740, Rs 1,820

Stop-Loss: Rs 1,600

Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One

Larsen & Toubro | CMP: Rs 3,564.1

Larsen & Toubro has witnessed a notable correction over the past few trading weeks, slipping below its 200-day SMA on the daily chart, indicating prior weakness. However, the stock has recently rebounded from the Rs 3,300 sub-zone and moved above the 61.8% Fibonacci retracement level on the weekly timeframe. Technically, this reflects a strong recovery from a key support area, reinforced by a historical consolidation range.

Additionally, the 14-day RSI on the daily chart signals a bullish reversal, suggesting improving momentum and potential upside traction. Hence, we recommend buying L&T around Rs 3,500.

Strategy: Buy

Target: Rs 3,850, Rs 3,900

Stop-Loss: Rs 3,250

Mankind Pharma | CMP: Rs 2,038.8

Mankind Pharma has been in a prolonged downtrend, trading below key EMAs across all timeframes. The stock has recently approached a historical support level, which has previously acted as a strong cushion and catalyst for upward momentum. A bullish candlestick formation on the weekly chart indicates an early reversal signal, presenting a potential accumulation opportunity with limited downside risk.

Technically, a positive crossover in the 14-week RSI further reinforces the bullish undertone, suggesting improving momentum and the possibility of a sustainable recovery in the near term. Hence, we recommend buying Mankind Pharma around Rs 2,020–2,000.

Strategy: Buy

Target: Rs 2,200, Rs 2,240

Stop-Loss: Rs 1,880

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

Delhivery | CMP: Rs 428.75

A breakout from an inverse head and shoulders pattern, along with a falling trendline breakout, has been witnessed in Delhivery, accompanied by an expansion in volumes. The breakout in price is supported by a breakout in the 14-period RSI, which further validates the pattern.

The stock has been consistently trading above all the major EMAs, with all of them now sloping upwards, establishing bullish momentum in the stock. All the previous resistances are now acting as supports, following the principle of polarity. The 14-day RSI reading near the 54 level offers comfort to buyers entering fresh long positions.

The stock can be bought at current prices or on dips around Rs 425, as it is now taking fresh support at these levels.

Strategy: Buy

Target: Rs 445

Stop-Loss: Rs 415

Aditya Infotech | CMP: Rs 1,826

Aditya Infotech broke out of a box pattern with an expansion in volumes. The price structure of higher highs and higher lows marks an uptrend in the stock. The stock is consistently trading above all its major exponential moving averages—namely the 20-day, 50-day, and 100-day—with all EMAs sloping upwards, which establishes a strong uptrend.

The breakout in price is accompanied by a breakout in the 14-period RSI, which further validates the pattern. A reading of 66 on the 14-day RSI suggests there is enough room for an extension of this rally. The stock can be bought on dips around Rs 1,780, as it is now taking fresh support at these levels.

Strategy: Buy

Target: Rs 1,900

Stop-Loss: Rs 1,700