Equity benchmarks rallied around 0.75 percent on March 17, extending the uptrend for a second consecutive session despite oil trading above $100 a barrel amid the Iran war. Market breadth turned positive, with 1,770 shares advancing against 1,202 declining shares on the NSE. The market is expected to consolidate with range-bound trading after the two-day rally. Below are some short-term trading ideas to consider:

Amol Athawale, VP Technical Research a Kotak Securities

Vedanta | CMP: Rs 699.35

Following a sharp upward rally, Vedanta is now consolidating within a symmetrical triangle pattern on the daily chart, indicating that bullish momentum could continue in the near term. The presence of higher lows highlights sustained buying interest and underlying strength, suggesting a potential breakout ahead.

For traders, the key level to monitor is Rs 675, which acts as immediate support. If the stock holds above this level, the positive trend structure remains intact. A decisive move beyond the consolidation range may trigger further upside, with the stock likely to head toward the Rs 750 level in the coming sessions.

Strategy: Buy

Target: Rs 750

Stop-Loss: Rs 675

Reliance Industries | CMP: Rs 1,397.6

Post its downward trend, Reliance Industries has entered an accumulation phase, moving within a defined range on the daily chart. Recent bullish activity suggests improving strength and rising buying interest. A breakout from the range appears likely in the near term, offering a favourable risk-reward opportunity from current levels.

For positional traders, Rs 1,345 is a crucial level to watch. Sustaining above this mark could confirm an uptrend and drive the stock toward Rs 1,490. However, a close below Rs 1,345 would weaken the structure, and traders may consider exiting long positions to manage downside risk effectively.

Strategy: Buy

Target: Rs 1,490

Stop-Loss: Rs 1,345

Godrej Properties | CMP: Rs 1,584.2

After a prolonged decline, Godrej Properties has rebounded from a key demand zone, signalling renewed buying interest. It has formed bullish reversal patterns on both daily and intraday charts, accompanied by a steady upmove.

The RSI indicator also points to strengthening momentum, indicating potential for further upside. For the near term, Rs 1,525 remains a crucial level for bulls. As long as the stock holds above this support, the positive trend is likely to persist, with the possibility of the price advancing toward the Rs 1,690 level in the coming sessions.

Strategy: Buy

Target: Rs 1,690

Stop-Loss: Rs 1,525

Ashish Kyal, Founder and CEO of Waves Strategy Advisors

Chennai Petroleum Corporation | CMP: Rs 1,065

Chennai Petroleum Corporation has been outperforming the broader market indices, rebounding strongly after taking support near Rs 870, which coincides with the lower boundary of a larger triangle pattern, indicating buying interest emerging from lower levels.

The stock has rallied over 20% in just two sessions, reflecting strong bullish momentum. Also, the MACD indicator gave a bullish crossover in the previous session, with a green histogram starting to form above the zero line, acting as a double confirmation of the bullish stance.

For now, buying on dips towards Rs 1,043–1,050 looks like a prudent strategy to enter for a move towards Rs 1,102, followed by Rs 1,135, with key support around the Rs 1,020 level.

Strategy: Buy

Target: Rs 1,102, Rs 1,135

Stop-Loss: Rs 1,020

Linde India | CMP: Rs 7,327

On the daily chart, Linde India has been following Dow Theory, forming a pattern of higher highs and higher lows since February 2, indicating a sustained uptrend.

In the previous session, the stock broke above the minor resistance level of Rs 7,245 with decent volumes, which is a positive technical development.

Additionally, Bollinger Bands have started to expand, signalling an increase in volatility, with the stock closing above the upper bands for two consecutive sessions, reflecting strong bullish momentum. The daily RSI is also at 67, leaving ample room for the stock to trend further. For now, a break above Rs 7,395 can push prices higher towards Rs 7,840, followed by Rs 8,050, with Rs 7,120 as the nearest support.

Strategy: Buy

Target: Rs 7,840, Rs 8,050

Stop-Loss: Rs 7,120

Premier Energies | CMP: Rs 811.2

On the daily chart, Premier Energies has been forming a double bottom pattern since January 5, indicating a possible trend reversal if the price sustains above the neckline level of Rs 834. In the previous session, the stock gained nearly 2% and closed near the neckline, which is a constructive sign.

Along with that, the KST line has already crossed the signal line from below and has started trading above the zero line, suggesting that bullish momentum is picking up. For now, a break above Rs 834 could push prices higher towards Rs 890 or above, while Rs 800 is expected to act as a strong support level on the downside.

Strategy: Buy

Target: Rs 890

Stop-Loss: Rs 800

Aditya Thukral, Founder & Analyst of AT Research & Risk Managers

Lumax Auto Technologies | CMP: Rs 1,562.1

Lumax Auto Technologies has been in an uptrend with the formation of higher highs and higher lows. Now that the stock has broken above the short-term lower high and changed the short-term price structure of the downtrend, it is moving in the direction of a larger uptrend. The stock has also moved above the 20-day and 50-day EMAs with expanding volumes, which is a positive sign.

Moreover, all major exponential moving averages are sloping upwards. On daily charts, a healthy correction has been witnessed, which has cooled the 14-period RSI from overbought readings to 51, making it a good buying opportunity.

The stock can be bought at current prices or on dips around Rs 1,540, as it has broken out of a downtrend with rising volumes.

Strategy: Buy

Target: Rs 1,700

Stop-Loss: Rs 1,450

Data Patterns India | CMP: Rs 3,300.5

Data Patterns (India) has been in an uptrend with the formation of higher highs and higher lows. The stock experienced a correction after a decent run and retraced to the 20-day EMA. Now that it has moved back above the 20-day EMA with expanding volumes, it is again moving in the direction of a larger uptrend.

The stock halted its correction around the previous resistance zone, which is now acting as support, following the principle of polarity. Moreover, it is consistently trading above all its major exponential moving averages—50-day, 100-day, and 200-day—with all EMAs sloping higher. The 14-period RSI has also cooled to 58 from overbought levels, now offering a favourable buying opportunity.

Fresh buying can be initiated on dips around minor support at Rs 3,240, anticipating further extension of the uptrend.

Strategy: Buy

Target: 3,500

Stop-Loss: Rs 3,140