The benchmark indices remained under pressure amid volatile and rangebound trading on March 13, with weakness in market breadth. A total of 1,790 shares saw a correction, while 820 shares gained on the NSE. The market might rebound in the upcoming sessions after a correction in the previous week, but there are doubts over the sustainability of the UPmove. Below are some trading ideas for the near term:

Mandar Bhojane, Equity Research Analyst at Choice Broking

Bank of Baroda | CMP: Rs 205.52

Bank of Baroda has broken out from a descending trendline on the daily chart, signaling bullish sentiment. The price is consolidating above the breakout level, indicating strong momentum. Increasing trading volume and the formation of higher highs and higher lows further confirm the uptrend. The RSI (Relative Strength Index) is at 46, trending upwards, reflecting strengthening bullish momentum. These indicators suggest the stock is poised for a rally. To manage risk, traders should set a stop-loss at Rs 196. If the momentum sustains, short-term targets of Rs 225 and Rs 230 could be achieved.

Strategy: Buy

Target: Rs 225, Rs 230

Stop-Loss: Rs 196

Bikaji Foods International | CMP: Rs 672.8

Bikaji Foods International has been consolidating within a range while forming lower highs. The stock is on the verge of a breakout from its daily range, with rising trading volume signaling a strong uptrend in the short term. If the price manages to close above Rs 680, it will further strengthen the bullish momentum. The RSI is at 53.39, indicating positive momentum with room for further upside. On the downside, immediate support is at Rs 650, offering a potential buying opportunity on dips. To manage risk, a stop-loss at Rs 630 is recommended. If momentum sustains, short-term targets of Rs 754 and Rs 764 could be achieved.

Strategy: Buy

Target: Rs 754, Rs 764

Stop-Loss: Rs 630

Gujarat Fluorochemicals | CMP: Rs 3,840

Gujarat Fluorochemicals has formed a double-bottom pattern, indicating a potential trend reversal. The stock is on the verge of breaking out from its daily range, supported by rising trading volume, which signals strong bullish momentum in the short term. A decisive close above Rs 3,890 will reinforce the uptrend, paving the way for further gains. The RSI at 57.67 suggests positive momentum with room for upside movement.

On the downside, immediate support is placed at Rs 3,745, which could act as a buying zone on dips. A prudent stop-loss at Rs 3,650 is recommended to manage risk. If momentum sustains, short-term targets of Rs 4,230 and Rs 4,400 could be achieved. Traders should monitor price action and volume closely to confirm the breakout.

Strategy: Buy

Target: Rs 4,230, Rs 4,400

Stop-Loss: Rs 3,650

Om Mehra, Technical Analyst at Samco Securities

United Spirits | CMP: Rs 1,353.7

United Spirits has shown resilience in a choppy market. The stock is trading near key support levels, with recent price action suggesting bullish momentum. The 20-DMA indicates a positive stance, while volume trends hint at rising interest. The RSI remains stable, reflecting balanced momentum. If the stock sustains above Rs 1,365, it may surge further. Additionally, any dip toward the Rs 1,345-1,350 zone may offer an opportunity to accumulate. Hence, based on the technical structure, one can initiate a long position at CMP (current market price).

Strategy: Buy

Target: Rs 1,425

Stop-Loss: Rs 1,305

EIH | CMP: Rs 359.1

EIH has been on an upward trajectory, with the 20-DMA serving as crucial support. The stock is forming higher highs and higher lows, signaling a sustained bullish trend. The RSI is trending above 55, indicating strong momentum, while the MACD (Moving Average Convergence Divergence) also remains in positive territory, reinforcing the bullish outlook. A breakout above the Rs 362 level could propel the stock higher. However, any dip toward the Rs 352-355 zone would provide a better accumulation opportunity. The rising volumes confirm the bullish outlook. Hence, based on the technical structure, one can initiate a long position at CMP.

Strategy: Buy

Target: Rs 385

Stop-Loss: Rs 347

Chandan Taparia, Head Derivatives & Technicals, Wealth Management at Motilal Oswal Financial Services

Coromandel International | CMP: Rs 1,797.7

Coromandel International has given a range breakout on the daily chart with a large-bodied candlestick. It has closed above its 100-DEMA with higher-than-average traded volumes. The RSI indicator is rising, which confirms the positive momentum.

Strategy: Buy

Target: Rs 1,891

Stop-Loss: Rs 1,750

Dalmia Bharat | CMP: Rs 1,607.1

Dalmia Bharat has breached its key support levels on the daily chart, with a surge in selling volumes visible. The ADX (Average Directional Index) Line is rising, which confirms the strength of the bearish trend.

Strategy: Sell

Target: Rs 1,530

Stop-Loss: Rs 1,650