The benchmark indices gained for the third straight day, rising 0.8 percent on March 18, supported by healthy market breadth. About 2,391 shares advanced against 582 declining shares on the NSE. However, the market is expected to be negatively impacted by rising oil prices and concerns over a prolonged pause in the Fed funds rate amid inflation worries. Below are some short-term trading ideas to consider:

Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse

PFC | CMP: Rs 432.25

Power Finance Corporation has broken above a multi-month resistance at Rs 430 levels, supported by higher-than-average volumes, indicating strong buying interest. It has also witnessed a golden crossover, with the 50-DMA moving above the 200-DMA, highlighting improving long-term strength.

The stock is now trading comfortably above all its short-term and long-term moving averages. Momentum indicators further support the positive outlook, with the RSI moving above the 60 mark and the MACD showing a fresh bullish crossover.

Considering the overall technical setup, the stock appears well-positioned to move towards a conservative target of Rs 465, while immediate support is placed at the 21-DMA near Rs 410.

Strategy: Buy

Target: Rs 465

Stop-Loss: Rs 410

APL Apollo Tubes | CMP: Rs 2,013.4

APL Apollo Tubes has found strong support at a rising trendline connecting its key swing lows after a recent correction. Historically, the stock has shown sharp rebounds from this trendline, indicating its significance. It has also moved above its 100-DMA, placed around Rs 1,936, which is now likely to act as immediate support.

The RSI has started recovering from the oversold zone, suggesting that the pullback may extend further. On the derivatives front, fresh addition in open interest points towards a long build-up, reinforcing improving bullish sentiment.

Overall, the technical setup indicates potential for an upward move towards Rs 2,180, while immediate support is placed at Rs 1,920.

Strategy: Buy

Target: Rs 2,180

Stop-Loss: Rs 1,920

Cipla | CMP: Rs 1,268.5

Cipla remains in a sustained downtrend and is currently trading near its two-year lows. It has recently witnessed a fresh breakdown, supported by above-average volumes, indicating strong selling pressure.

On the derivatives front, the addition of fresh open interest points towards a short build-up, further reinforcing negative sentiment. Momentum indicators continue to signal weakness, with the MACD showing a bearish crossover. Based on this setup, the stock is expected to decline further towards Rs 1,180.

Strategy: Sell

Target: Rs 1,180

Stop-Loss: Rs 1,320

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

GE Vernova T&D India | CMP: Rs 3,807.7

GE Vernova T&D India has found strong support in the Rs 3,490–3,390 zone, which has held firm multiple times since early February. This area also aligns with the 50-day EMA, reinforcing it as a key support zone. On the indicators front, DI has crossed above DI- on the ADX, signalling growing buyer dominance.

Additionally, shrinking red histogram bars indicate fading bearish momentum. The stock has registered consecutive higher closes on the daily chart, suggesting strength in price action and the likelihood of further upside in the coming sessions.

Hence, the stock is recommended for accumulation in the Rs 3,820–3,780 zone, with a stop-loss of Rs 3,650. On the upside, it is likely to test the Rs 4,100 level in the short term.

Strategy: Buy

Target: Rs 4,100

Stop-Loss: Rs 3,650

Bharat Forge | CMP: Rs 1,804.4

Bharat Forge has witnessed a strong pullback of nearly 9 percent over the last three sessions, finding support near the confluence of its 50-day EMA and the Bollinger Band midline. The RSI, which had slipped to 42, has rebounded to around 55, indicating a revival in bullish momentum.

Additionally, DI is nearing a crossover above DI- on the ADX, signalling strengthening buyer dominance. The combination of supportive price action and improving indicators suggests the stock is likely to extend its pullback in the near term.

Hence, the stock is recommended for accumulation in the Rs 1,770–1,800 zone, with a stop-loss of Rs 1,730. On the upside, it is likely to test the Rs 1,910–1,930 range in the short term.

Strategy: Buy

Target: Rs 1,910, Rs 1,930

Stop-Loss: Rs 1,730

Rupak De, Senior Technical Analyst at LKP Securities

City Union Bank | CMP: Rs 251.2

City Union Bank has moved higher after a brief consolidation on the hourly chart, indicating improving sentiment. Additionally, the stock price has reclaimed the 200-DMA, confirming a return of the bullish trend.

The RSI is in a bullish crossover and has also moved out of the oversold zone. In the short term, the stock may move towards Rs 265. On the downside, it has support at Rs 243, below which it may enter a decline.

Strategy: Buy

Target: Rs 265

Stop-Loss: Rs 243

JK Tyre and Industries | CMP: Rs 436.75

JK Tyre and Industries has moved above the 200-DMA after briefly falling below it, indicating improving sentiment. Additionally, the RSI is in a bullish crossover and has emerged from the oversold zone.

The stock has also found support at the previous consolidation high. In the short term, it may move towards Rs 470. On the downside, it has support at Rs 424, below which it may decline.

Strategy: Buy

Target: Rs 470

Stop-Loss: Rs 424

DLF | CMP: Rs 563.1

DLF has been rising for the last two days, supported by buying near recent lows. The RSI is in a bullish crossover after emerging from the oversold zone.

Additionally, a positive divergence is visible on the daily timeframe. In the short term, the stock may move towards Rs 585. On the downside, it has support at Rs 552, below which it may decline.

Strategy: Buy

Target: Rs 585

Stop-Loss: Rs 552