Equity benchmarks rose 0.65 percent on April 17 after a day of profit booking, with market breadth remaining dominated by bulls. About 2,200 shares saw buying interest compared to 785 declining shares on the National Stock Exchange. The market is expected to stay positive, albeit volatile, as participants monitor developments related to potential US–Iran peace talks. Below are some short-term trading ideas to consider:

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

Cochin Shipyard | CMP: Rs 1,561.1

On the weekly chart, Cochin Shipyard has delivered a decisive breakout above the medium-term down-sloping trendline at Rs 1,492, which had been in place since June 2025, signalling a trend reversal and the emergence of bullish momentum. The move is supported by rising volumes, highlighting strong market participation and conviction behind the breakout.

Further strength is evident as the stock has triggered a Bollinger Band buy signal on the daily timeframe, indicating expanding short-term momentum. Momentum indicators remain firmly supportive, with the weekly RSI in positive territory and breaking above its downward-sloping trendline, validating the strength in price action and reinforcing the bullish outlook.

Strategy: Buy

Target: Rs 1,700, Rs 1,900

Stop-Loss: Rs 1,500

Zen Technologies | CMP: Rs 1,616.5

On the weekly chart, Zen Technologies had been consolidating within a symmetrical triangle pattern since January 2025. With Friday’s close, it has delivered a decisive breakout above the Rs 1,580 level, supported by a significant surge in volumes, indicating strong participation and conviction.

The stock remains firmly positioned above its 20-, 50-, 100-, and 200-day SMAs, reaffirming a well-established bullish trend. Momentum indicators are supportive, with the weekly RSI trending higher and breaking above the 50 mark, signalling a positive bias and strengthening momentum.

Strategy: Buy

Target: Rs 1,800, Rs 1,900

Stop-Loss: Rs 1,500

Britannia Industries | CMP: Rs 5,735.5

With the recent weekly close, Britannia Industries continues to consolidate within a broad range of Rs 5,300–6,270 over the past 1.5 years, indicating a well-defined base formation. Recently, it rebounded sharply from the lower band of the range, signalling renewed buying interest and a potential move toward the upper band of the consolidation.

The stock has also broken above a short-term downward-sloping trendline, indicating a pickup in near-term momentum. Momentum indicators remain supportive, with the weekly RSI delivering a bullish crossover above its reference line, generating a buy signal and reinforcing the positive bias.

Strategy: Buy

Target: Rs 6,000, Rs 6,100

Stop-Loss: Rs 5,600

Rajesh Bhosale, Technical Analyst at Angel One

Great Eastern Shipping Company | CMP: Rs 1,424.3

During the early part of March, GE Shipping witnessed a strong breakout. However, amid the broader market sell-off, prices consolidated around the breakout zone while relatively outperforming the market.

With improving market sentiment, the stock has resumed its primary uptrend. Prices are trading well above all key moving averages, and dips toward the 20-DEMA are being consistently bought. Additionally, the RSI across major timeframes remains above 60, indicating sustained bullish momentum. Hence, we recommend buying Great Eastern Shipping Company around Rs 1,424–1,415.

Strategy: Buy

Target: Rs 1,675

Stop-Loss: Rs 1,350

General Insurance Corporation of India | CMP: Rs 400.4

Over the past year, General Insurance Corporation’s prices have been consolidating within a strong range of Rs 350–390. This range has now been decisively broken on the upside, confirming a bullish breakout.

Prices have also closed above the upper Bollinger Band, indicating the possibility of a strong trending move following the prolonged consolidation. Additionally, the RSI has broken above the 60 mark, suggesting strengthening momentum in the near term. Hence, we recommend buying General Insurance Corporation in the range of Rs 400–395.

Strategy: Buy

Target: Rs 440

Stop-Loss: Rs 380

Power Grid Corporation of India | CMP: Rs 318.1

Power Grid Corporation is witnessing multiple pattern breakouts across timeframes. In the near term, a flag and pennant breakout is visible, while on the broader chart, a strong channel breakout has been confirmed. This move is supported by robust volumes and a bullish weekly candle, indicating strong participation.

Prices are trading well above key moving averages, and oscillators remain positively aligned, reinforcing the bullish outlook. Hence, we recommend buying Power Grid Corporation around Rs 318–315.

Strategy: Buy

Target: Rs 350

Stop-Loss: Rs 303

Anshul Jain, Head of Research at Lakshmishree Investments

Azad Engineering | CMP: Rs 1,904.3

Azad Engineering is forming a 93-week volatility contraction pattern (VCP) IPO base with a well-defined neckline at Rs 1,930, indicating prolonged volatility contraction and supply absorption. The structure reflects tightening price action, often preceding a sharp expansion. Weekly moving averages are acting as a launchpad, reinforcing trend strength, while the RSI remains on a bullish trajectory, supporting potential vertical moves.

A decisive breach and sustained trade above Rs 1,930 would confirm a breakout, opening immediate upside toward the Rs 2,300 zone. Volume expansion on the breakout will be critical for validation. The base lows serve as key support, and any failure to hold above the neckline would delay the bullish resolution.

Strategy: Buy

Target: Rs 2,300

Stop-Loss: Rs 1,870

Emmvee Photovoltaic Power | CMP: Rs 265.55

Strong buying interest across the power and ancillary space is acting as a sectoral tailwind, driving a decisive IPO base breakout in Emmvee Photovoltaic. The stock has emerged from a 97-day VCP structure, indicating prolonged volatility contraction and efficient supply absorption. The breakout is backed by above-average volumes, reflecting strong hands and institutional participation.

The price structure supports continuation, with momentum favouring an upside toward the Rs 320 zone. Any pullback toward the support band of Rs 253 and the breakout level near Rs 240 should be viewed as a retest and accumulation opportunity. A sustained move below Rs 240 would invalidate the setup and signal a loss of momentum.

Strategy: Buy

Target: Rs 320, Rs 350

Stop-Loss: Rs 240

Shriram Finance | CMP: Rs 1,036.95

Shriram Finance is forming a bullish flag on the daily charts after a sharp 19 percent pole in just four sessions, signalling strong trend momentum. The flag is developing on declining volumes, indicating tight consolidation and an absence of distribution near highs.

Notably, the structure has triggered a bear trap, with the price briefly breaching the 10-, 20-, and 50-day EMAs before reversing sharply with a bullish gap, trapping weak shorts. This reinforces underlying strength and demand absorption. A decisive breakout above Rs 1,040 would confirm continuation and trigger fresh buying interest, opening upside toward the Rs 1,110 zone. The flag base and EMA cluster act as key support and invalidation levels.

Strategy: Buy

Target: Rs 1,110

Stop-Loss: Rs 1,015