Bulls maintained their control over Dalal Street for another session, driving the Nifty 50 higher by 1.3 percent on November 25, with a positive market breadth. About 1,783 shares gained on the NSE, compared to 744 declining shares. The momentum is expected to remain positive, but considering the 1,000-point rally over the last two sessions, some consolidation cannot be ruled out. Below are some trading ideas for the near term:

Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities

TCS Futures | CMP: Rs 4,319

Tata Consultancy Services (TCS) has confirmed higher tops and higher bottoms on the daily charts. The stock has moved above its 200 DMA (Day Moving Average). The momentum indicator MACD (Moving Average Convergence Divergence) has provided a buy crossover on the daily charts. The stock is progressing in an upward-sloping parallel channel and is expected to inch toward the upper end of the channel. Its PCR (Put-Call Ratio) is above 1, at 1.08, which is bullish for the short term. The stock is trading well above its maximum pain and modified maximum pain levels of Rs 4,150 and Rs 4,227, respectively. TCS has witnessed significant Call unwinding from Rs 4,000 to Rs 4,300, as well as good Put buildup at these levels, indicating that the bulls are in control and the short-term trend is upward.

Strategy: Buy

Target: Rs 4,440, Rs 4,515

Stop-Loss: Rs 4,254

HDFC Bank | CMP: Rs 1,785.6

HDFC Bank has provided a breakout above its consolidation, forming an ascending triangle pattern. Although the breakout coincided with the MSCI rebalancing, the probability of an upside remains high. The MACD indicator is in a buy mode on the daily charts, indicating a positive short-term trend. As per derivatives data, there is substantial Call unwinding from Rs 1,720 to Rs 1,760, along with good Put additions from Rs 1,740 to Rs 1,780, suggesting the likelihood of further buying. However, Rs 1,800 remains a key resistance level, with significant Call open interest. Only above Rs 1,800 can we expect further momentum to build.

Strategy: Buy

Target: Rs 1,860, Rs 1,900

Stop-Loss: Rs 1,747

Piramal Enterprises | CMP: Rs 1,107.75

Piramal Enterprises has broken out from a sideways consolidation, with a bullish crossover on the MACD on daily charts, indicating a positive short-term trend. In options, the stock has witnessed good Call unwinding at lower levels, with strong Put support between Rs 1,000 and Rs 1,100 strikes. However, Rs 1,120 has seen significant Call open interest, and only above this level will there be further upward momentum. Based on the technical breakout, there is a higher chance of the stock surpassing Rs 1,120. Additionally, the futures data shows a clear long buildup in the November series, reinforcing the positive short-term outlook.

Strategy: Buy

Target: Rs 1,150, Rs 1,170

Stop-Loss: Rs 1,088

Mehul Kothari, DVP – Technical Research at Anand Rathi

Hindustan Zinc | CMP: Rs 498.5

Hindustan Zinc rallied from Rs 475 to Rs 575 before the announcement of the offer-for-sale, after which the stock retreated below Rs 500. However, it has found support at the 200 DEMA (Daily Exponential Moving Average), and technically, most indicators remain bullish for the coming weeks. Traders are advised to buy the stock above Rs 502, with an upside target of Rs 535.

Strategy: Buy

Target: Rs 535

Stop-Loss: Rs 483

CIE Automotive India | CMP: Rs 464.55

CIE Automotive has declined 27 percent over the past 3-4 months, from its peak of Rs 622. It has formed a Bullish Crab pattern in the Rs 460-470 range, aligning with the 0.618%-0.707% Fibonacci retracement levels of its previous uptrend. A bullish divergence on the daily chart suggests a potential reversal. A buying opportunity is recommended in the Rs 460-470 range, with a target of Rs 518 and a stop-loss at Rs 438 on a daily closing basis.

Strategy: Buy

Target: Rs 518

Stop-Loss: Rs 438

Pravesh Gour, Senior Technical Analyst at Swastika Investmart

Afcons Infrastructure | CMP: Rs 528.25

Afcons has recently emerged from a prolonged consolidation phase, supported by strong volume, and has broken out of an ascending triangle pattern. The overall chart structure is bullish, suggesting an immediate target of Rs 550 , with the potential for further upside towards Rs 600 . On the downside, Rs 475 serves as key support. The current strength is reinforced by the MACD indicator, while the RSI (Relative Strength Index) is also showing positive momentum on the hourly charts.

Strategy: Buy

Target: Rs 604

Stop-Loss: Rs 475

Capacite Infraprojects | CMP: Rs 392.35

Capacite Infraprojects has witnessed a breakout from a triangle pattern formation on the daily chart. It has formed a base around the Rs 360-370 levels. The stock is trading above all of its significant moving averages, and the overall structure is very promising. On the upside, Rs 414 is an immediate psychological resistance level, and above this, a move towards Rs 480 is expected. On the downside, Rs 370 remains the key support.

Strategy: Buy

Target: Rs 500

Stop-Loss: Rs 370

Eris Lifesciences | CMP: Rs 1,473.75

On a longer horizon, Eris Lifesciences is exhibiting traditional bullish momentum, forming higher highs and higher lows. On the shorter horizon, it recently broke out of a longer consolidation phase with a large volume, and on the weekly chart, it broke from a triangular formation. The stock is trading above all of its key moving averages, with the RSI positively poised and the MACD witnessing a centerline crossover to the upside. On the higher side, Rs 1,550 is an important psychological level; above this, we can expect a move towards Rs 1,600 . On the downside, Rs 1,375 serves as major support during any corrections.

Strategy: Buy

Target: Rs 1,594

Stop-Loss: Rs 1,375