The benchmark indices gave up some of the previous day’s gains, with the Nifty 50 declining 0.22 percent on January 13. Market breadth was moderately weak, with about 1,491 shares declining against 1,370 advancing shares on the NSE. The market may see consolidation as long as it trades below the midline of the Bollinger Bands. Below are some short-term trading ideas to consider:

Amol Athawale, VP Technical Research at Kotak Securities

TVS Motor Company | CMP: Rs 3,755.4

After declining from higher levels, TVS Motor rebounded from its retracement zone and witnessed a robust recovery. Additionally, on the intraday charts, the stock has given a breakout from its sloping trendline. The upward move in the stock suggests a new leg of a bullish trend from current levels.

For the next few trading sessions, Rs 3,620 could be the trend-decider level for bulls. If the stock sustains above this level, a further uptrend towards Rs 4,010 can be expected.

Strategy: Buy

Target: Rs 4,010

Stop-Loss: Rs 3,620

Jindal Steel | CMP: Rs 1,010.8

After a remarkable up move on the daily chart, Jindal Steel witnessed profit booking at higher levels. Following the recent sell-off, the downward momentum in the stock has stalled. Moreover, the stock has found support near its demand zone.

This formation suggests a revival of the uptrend from current levels in the near future. For positional traders, Rs 980 would be the decisive level. If the stock trades above this level, the uptrend is likely to continue towards Rs 1,080. However, if it closes below Rs 980, traders may prefer to exit long positions.

Strategy: Buy

Target: Rs 1,080

Stop-Loss: Rs 980

Union Bank of India | CMP: Rs 166.19

Following its strong up move and a brief consolidation over the last few sessions, Union Bank of India is gaining further traction for a fresh up move. The chart structure indicates a bullish continuation pattern, which is likely to persist in the near term.

As long as the stock trades above Rs 161, the bullish bias is likely to continue, with an upside target of Rs 178.

Strategy: Buy

Target: Rs 178

Stop-Loss: Rs 161

Ashish Kyal, CMT, Founder and CEO at Waves Strategy Advisors

Dredging Corporation of India | CMP: Rs 1,105

On the daily chart, Dredging Corporation of India has been trading in a broad consolidation range of Rs 892–1,071 over the past few weeks, indicating an accumulation phase. In the previous session, the stock finally gave a range breakout and managed to close above the range at Rs 1,105. This move was supported by a strong rise in volumes, adding credibility to the breakout.

Additionally, the MACD has witnessed a bullish crossover for the first time since December 2025, which is a positive sign. For now, any dips towards Rs 1,070–1,075 can be considered a buying opportunity for an upside move towards Rs 1,150. On the downside, the Rs 1,020 level is expected to act as a crucial support.

Strategy: Buy

Target: Rs 1,150

Stop-Loss: Rs 1,020

Tech Mahindra | CMP: 1,614.8

On the daily chart, Tech Mahindra has been moving within a larger triangle pattern since the beginning of December 2024 and is now trading close to the trendline resistance. At the start of this week, the stock found support at the 50-day EMA (Exponential Moving Average) and witnessed a sharp rebound, forming higher highs and higher lows, which signals an improving price structure.

For now, a break above Rs 1,635 can confirm a breakout from the triangle pattern, potentially resulting in a fresh rally towards Rs 1,750–1,800, as long as the EMA support near Rs 1,558 remains protected on the downside.

Strategy: Buy

Target: Rs 1,750, Rs 1,800

Stop-Loss: Rs 1,558

ICICI Bank | CMP: Rs 1,437

At the start of the month, ICICI Bank confirmed a breakout from a double-bottom pattern and has successfully retested the breakout zone. The stock is now trading near its prior swing high of Rs 1,442, indicating sustained strength. Over the past two sessions, prices have consistently protected the previous day’s low on a closing basis, which is a positive sign.

Additionally, the Know Sure Thing (KST) indicator has already given a bullish crossover and is now trading above the zero line, suggesting that positive momentum is likely to continue. A decisive break above the Rs 1,442 level is required for bullish momentum to extend, which could push prices higher towards Rs 1,540, while Rs 1,390 is expected to act as the nearest support.

Strategy: Buy

Target: Rs 1,540

Stop-Loss: Rs 1,390