The benchmark indices maintained their northward journey for the second consecutive session, with the Nifty 50 rising nearly 1 percent on January 29. Even the market breadth turned positive after being negative in the past few sessions, as about 2,152 shares advanced against 406 shares that fell on the NSE. The market is expected to see consolidation after the recent rally. Below are some trading ideas for the near term:

Vidnyan S Sawant, Head of Research at GEPL Capital

Zensar Technologies | CMP: Rs 850.50

Despite market volatility, Zensar Technologies has demonstrated strong resilience, exhibiting high relative strength. On the monthly scale, the stock continues its upward trend, with the current month witnessing a breakout from a six-month consolidation phase, reinforcing its robust momentum. Trading above the key 12-week and 26-week EMAs (Exponential Moving Averages), Zensar Technologies remains in a bullish structure. Additionally, the MACD (Moving Average Convergence Divergence) momentum indicator has shown a bullish crossover, signaling a likely continuation of the stock’s upward trajectory.

Strategy: Buy

Target: Rs 1,011

Stop-Loss: Rs 790

Avanti Feeds | CMP: Rs 698

On the monthly timeframe, Avanti Feeds has exhibited a robust structural shift, with the prior resistance from 2022 now acting as a support zone. This shift signifies a classic change in polarity on a higher timeframe, underscoring the stock's bullish potential. On the weekly timeframe, since April 2023, the stock has been forming higher tops and higher bottoms, highlighting a consistent uptrend.

On the daily timeframe, the stock has formed a base around the 200-day EMA, reinforcing its bullish price structure across multiple timeframes. From an indicator perspective, the MACD momentum study shows a bullish crossover, while the RSI (Relative Strength Index) remains above 60 across timeframes, indicating strong and sustained bullish momentum.

Strategy: Buy

Target: Rs 808

Stop-Loss: Rs 648

Mahindra and Mahindra | CMP: Rs 2,924.35

M&M remains in a classic bullish trend on the monthly scale, showing strong resilience despite market volatility. The stock has been consolidating within a tight range for six months, indicating high relative strength. On the weekly scale, it is witnessing a pullback from the lower range of the congestion zone, suggesting a continuation of its uptrend. Additionally, the RSI indicator is exhibiting a bullish hidden divergence, signaling a potential acceleration in momentum.

Strategy: Buy

Target: Rs 3,314

Stop-Loss: Rs 2,727

Time Technoplast | CMP: Rs 387.85

Time Technoplast remains in a rising trend, with the current month witnessing a 20% correction from its swing high. Notably, since January 2024, the stock has exhibited a repetitive price pattern, typically correcting by 17-25?fore surging approximately 40%, indicating a setup for a strong upward move. On the weekly scale, the stock has demonstrated a change in polarity, where the prior resistance from July 2024 is now acting as a support level, further reinforcing its bullish outlook.

Strategy: Buy

Target: Rs 469

Stop-Loss: Rs 363

Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan

Eicher Motors | CMP: Rs 5,182.9

Eicher Motors has broken out of a Bullish Flag pattern on the hourly charts and resumed the next leg of its up move after taking support at the 20-day moving average (Rs 5,113). The momentum indicator has shown a positive crossover, which is a buy signal. We expect the stock to retest its previous swing high.

Strategy: Buy

Target: Rs 5,385

Stop-Loss: Rs 5,080

SBI Life Insurance Company | CMP: Rs 1,460.9

SBI Life has found buying interest from the 78.6% Fibonacci retracement level of the previous rise and resumed its up move. It has formed a strong bullish candle on the daily charts, engulfing the price action of the previous three sessions. We expect the stock to continue with its positive momentum over the next few trading sessions.

Strategy: Buy

Target: Rs 1,525

Stop-Loss: Rs 1,435

Riyank Arora, Technical Analyst at Mehta Equities

Indian Energy Exchange | CMP: Rs 179

Indian Energy Exchange (IEX) has given a strong breakout above its immediate resistance mark of Rs 175 and closed well above the same. With RSI (14) going above 55, the stock is showing strong signs of momentum and strength. We are expecting upside targets of Rs 192 and above to come in on the stock. A strict stop-loss is, however, advised at Rs 170 to manage risk effectively on this trade.

Strategy: Buy

Target: Rs 192

Stop-Loss: Rs 170

TVS Motor Company | CMP: Rs 2,464.75

TVS Motor has given a good breakout above the trendline resistance mark of Rs 2,410 and successfully managed to close above the same. The previous two trading sessions saw a sharp spike in volumes, confirming the breakout in share prices. With RSI (14) being around 60 and witnessing a good uptick, we expect an upside target of Rs 2,600 and above. A strict stop-loss should be kept near Rs 2,400 to manage risk effectively.

Strategy: Buy

Target: Rs 2,600

Stop-Loss: Rs 2,400

Granules India | CMP: Rs 534.8

Granules India has made a bullish candlestick pattern at its immediate support mark of Rs 522.65 and formed a bullish Harami candlestick pattern on its daily time frame charts. With the RSI showing good reversal signs from lower levels, the stock is indicating a potential upside from here. We recommend a buy-in Granules with a strict stop-loss at Tuesday's session's low of Rs 502 for potential upside targets of Rs 560 and Rs 565.

Strategy: Buy

Target: Rs 560, Rs 565

Stop-Loss: Rs 510