The benchmark indices showed a smart recovery from the day’s low and closed moderately higher on April 2, with improving market breadth. About 1,881 shares advanced against 1,098 declining shares on the NSE. Bearish sentiment may prevail amid consolidation, with a continued focus on Middle East tensions. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

NLC India | CMP: Rs 278.6

NLC India has broken out above a multi-month consolidation range and a resistance trendline. The breakout came with strong volume participation, indicating clear accumulation. The price is trading above all key EMAs, which are sloping upward.

The RSI holds above 55 in bullish territory, and DMI/ADX confirm strengthening trend momentum. The stock exhibits superior relative strength versus the Nifty 50 and Nifty 500. The overall structure favours a continuation of the upmove.

Strategy: Buy

Target: Rs 289, Rs 300

Stop-Loss: Rs 258

KSB | CMP: Rs 838.3

KSB has broken out above a long-term descending trendline and triangular consolidation. The breakout was supported by healthy volume expansion, confirming buyer participation. The price now trades comfortably above all key EMAs, with upward-sloping averages.

The RSI is in bullish territory above 60, while DMI shows DI above -DI with a rising ADX, indicating a strong trending move. The stock is displaying better relative strength compared to both the Nifty 50 and Nifty 500. The structure remains bullish with continuation potential.

Strategy: Buy

Target: Rs 870, Rs 900

Stop-Loss: Rs 765

Thermax | CMP: Rs 3,295.7

Thermax has given a clear breakout above a long consolidation wedge pattern. Volume has expanded significantly during the breakout in recent sessions, indicating strong buyer interest. The price now trades above all key EMAs, with upward slopes.

The RSI is in bullish territory above 57, while DI is trading above -DI. The stock is showing better relative strength compared to the Nifty 50 and Nifty 500. The structure remains positive with upside potential. A break above Rs 3,360 will further propel bullish momentum.

Strategy: Buy

Target: Rs 3,500, Rs 3,678

Stop-Loss: Rs 3,100

Rajesh Bhosale, Technical Analyst at Angel One

Titan Company | CMP: Rs 4,097.2

Titan Company recently delivered a multi-month breakout above the Rs 3,850 zone, followed by strong upward traction. This breakout level is now acting as solid support, with prices forming a “double bottom” pattern around the same area.

On the weekly timeframe, a bullish engulfing candle near this key support signals a likely resumption of the primary uptrend. Notably, despite broader market weakness, the stock continues to trade well above its key moving averages, reflecting strong relative strength. Hence, buying is recommended in the Rs 4,097–4,080 range.

Strategy: Buy

Target: Rs 4,500

Stop-Loss: Rs 3,900

Adani Power | CMP: Rs 160

On the daily chart, Adani Power had been facing stiff resistance around the Rs 155 zone for several months; this level has now been decisively breached, confirming a strong channel breakout. Technically, the stock has also closed above the 61.8% retracement of the recent decline from its all-time highs, indicating a resumption of the primary uptrend.

Volume analysis further supports this strength, with higher volumes seen during upmoves and relatively lower volumes during declines—signalling accumulation by strong hands. Additionally, the RSI across multiple timeframes is trading above 60, reflecting sustained bullish momentum. Hence, buying is recommended around Rs 160–158.

Strategy: Buy

Target: Rs 180

Stop-Loss: Rs 150

Godawari Power and Ispat | CMP: Rs 276.75

Technically, Godawari Power and Ispat has been consolidating within a range over the past few months, and a strong breakout from a “symmetrical triangle” pattern is now visible. Additionally, prices are trading well above key moving averages, indicating a sustained bullish undertone in the counter.

The RSI is also holding above the 60 mark, reflecting strong positive momentum. Considering the overall technical setup, the stock is likely to outperform in the near term. Hence, buying is recommended around Rs 277–275.

Strategy: Buy

Target: Rs 298

Stop-Loss: Rs 266

Om Mehra, Technical Research Analyst at Samco Securities

Avenue Supermarts | CMP: Rs 4,362.40

Avenue Supermarts has delivered a strong breakout above the Rs 4,000–4,050 zone, which had capped the stock over the past few weeks. The move has come with a wide bullish candle and a visible pickup in volumes, indicating active participation in the breakout. The stock has also reclaimed the 20-day moving average and is now trading comfortably above Supertrend support, suggesting a shift in short-term momentum.

The follow-through after the breakout remains firm, with prices sustaining near the day’s highs. The RSI is placed near 73 and holding strong, while the MACD has turned positive with expanding histogram bars, supporting continuation of the move.

Strategy: Buy

Target: Rs 4,650

Stop-Loss: Rs 4,100

FSN E-Commerce Ventures Nykaa | CMP: Rs 246

Nykaa was consolidating near the Rs 232–236 support zone, where it had formed a short-term base over the past few sessions. Multiple attempts to break below this level have been absorbed, and the stock has formed a strong bullish engulfing pattern.

Volumes have remained relatively stable. The RSI is placed near 49 and is turning higher, indicating a gradual improvement in momentum. The MACD has flattened and is attempting to turn positive, supporting the possibility of a near-term recovery.

Strategy: Buy

Target: Rs 265

Stop-Loss: Rs 235

Hitesh Tailor, Technical Research Analyst at Choice Broking

Natco Pharma | CMP: Rs 1,027.55

Natco Pharma is showing strength after forming a base near lower levels, followed by a bullish golden crossover and support at the 50-day EMA. The stock has rebounded sharply and formed a strong bullish candlestick, engulfing the previous day’s range, indicating continuation of the uptrend.

Momentum remains supportive, with the RSI at 63.53 holding above the 50 level and trending higher. Based on this technical setup, short-term traders may consider buying at CMP, with a stop-loss at Rs 978 and a target of Rs 1,111, while maintaining disciplined risk management.

Strategy: Buy

Target: Rs 1,111

Stop-Loss: Rs 978

Welspun Corp | CMP: Rs 846.85

Welspun Corp is showing early signs of strength after a phase of accumulation near key EMA supports, followed by a strong rebound. The stock has engulfed the previous four-day range, indicating robust buying interest and a potential shift towards an uptrend. Currently trading around Rs 846.85, the price action reflects improving sentiment.

Momentum is supportive, with the RSI bouncing from the 50 level and trending higher, signalling strengthening momentum.

Strategy: Buy

Target: Rs 960

Stop-Loss: Rs 805