The benchmark indices rebounded sharply on October 9, with the Nifty 50 rising 1.3 percent amid positive market breadth. Around 1,978 stocks advanced, compared with 1,267 that declined on the NSE. The market may extend its uptrend with moderate gains, although consolidation and range-bound trading could persist. Here are some short-term trading ideas to consider:

Jatin Gedia, Technical Research Analyst, VP, Derivatives & Technical Research at Teji Mandi

City Union Bank | CMP: Rs 231.42

City Union Bank has witnessed buying interest in the support zone of Rs 219–221, which coincides with the 50 percent and 61.8 percent Fibonacci retracement levels of the previous five-wave impulsive move from Rs 210 to Rs 232. The daily and hourly momentum indicators have shown bullish crossovers, generating a buy signal.

On the weekly chart, the stock has formed a Hammer candlestick pattern, suggesting strong buying interest at support levels. Trading volumes have also picked up, indicating greater participation in the direction of the primary trend. The stock is expected to rise towards Rs 251, which represents the 150 percent Fibonacci extension level of the previous wave.

Strategy: Buy

Target: Rs 251

Stop-Loss: Rs 224

NTPC Green Energy | CMP: Rs 92.6

NTPC Green Energy has formed a triple-bottom pattern in the Rs 85–86 zone and witnessed a sharp upmove towards Rs 96. The recent pullback towards Rs 89, which coincides with the 61.8 percent Fibonacci retracement level, attracted buying interest, and the stock formed a bullish candle on the daily chart.

In the previous trading session, the stock witnessed follow-through buying, suggesting a continuation of the positive momentum. The momentum indicator has reached the equilibrium line, indicating that the pullback may be complete and the stock may have begun its next upward wave. This could result in a move towards Rs 99–103, which represent the 100 percent and 138.2 percent Fibonacci extension levels of the previous wave.

Strategy: Buy

Target: Rs 99, Rs 103

Stop-Loss: Rs 89

Cyient | CMP: Rs 1,158.8

Cyient has been consolidating following a sharp rally in August. The stock retraced towards Rs 1,064, which coincides with the 38.2 percent Fibonacci retracement level of the rally from Rs 814 to Rs 1,219, and has now resumed its upward move.

The momentum indicator pulled back to the equilibrium line before triggering a fresh positive crossover, generating a buy signal. The upmove is likely to extend towards Rs 1,290, where resistance is expected near the previous swing high.

Strategy: Buy

Target: Rs 1,290

Stop-Loss: Rs 1,120

Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One

Persistent Systems | CMP: Rs 5,770

Persistent Systems has witnessed a strong rebound from its 200-day simple moving average (200-day SMA), coinciding with a breakout above the neckline, and has sustained its upward momentum. The stock has demonstrated relative outperformance within its sector, reflecting underlying strength.

The recent resurgence further reinforces the positive technical outlook. The stock is trading above all its key exponential moving averages (EMAs) and the 200-day SMA, indicating a constructive bullish bias. Accordingly, buying is recommended around Rs 5,700, with a stop-loss at Rs 5,300.

Strategy: Buy

Target: Rs 6,300, Rs 6,400

Stop-Loss: Rs 5,300

Physicswallah | CMP: Rs 143.69

Physicswallah has staged a sharp rebound from its 200-day simple moving average (200-day SMA), forming a V-shaped recovery on the daily chart. Further strengthening the bullish outlook, the MACD histogram has registered a trendline breakout above the zero line, signalling improving momentum.

Overall, most technical indicators remain positively aligned, reinforcing the prevailing bullish undertone and supporting the potential continuation of the stock's upward trajectory. Accordingly, buying is recommended in the Rs 135–138 range.

Strategy: Buy

Target: Rs 160

Stop-Loss: Rs 125

Trent | CMP: Rs 2,918.2

Trent witnessed a strong upmove over the previous week, backed by robust volumes, effectively negating its recent corrective phase. On the weekly chart, the stock has formed a higher high, signalling a potential reversal of the prevailing bearish trend, while the latest surge has established a higher bottom.

Additionally, the 20-day EMA has crossed above the 200-day SMA, reinforcing the improving technical structure and strengthening the bullish outlook. Accordingly, buying is recommended around Rs 2,900.

Strategy: Buy

Target: Rs 3,200, Rs 3,250

Stop-Loss: Rs 2,700

Vaishnavi Jagtap, Senior Research Analyst – Technical at Axis Direct

Indo Amines | CMP: Rs 157.72

With last week's close, Indo Amines decisively broke above the multi-year, downward-sloping trendline resistance at Rs 140 on a closing basis. The breakout was accompanied by strong volumes, indicating increased market participation. The weekly Bollinger Bands have also generated a buy signal, confirming a pickup in volatility.

The stock is trading comfortably above its 20-day, 50-day, 100-day and 200-day SMAs, all of which are trending upwards along with the price, reaffirming the bullish trend. The daily, weekly and monthly Relative Strength Index (RSI) readings are in favourable territory, indicating strengthening momentum across all time frames. Investors should consider buying, holding and accumulating the stock.

Strategy: Buy

Target: Rs 185, Rs 205

Stop-Loss: Rs 145

Allied Blenders and Distillers | CMP: Rs 711.55

Allied Blenders and Distillers remains in a strong uptrend, forming a sequence of higher tops and higher bottoms that underscores the prevailing bullish sentiment. Supported by a sharp increase in trading volumes, indicating robust market participation, the stock's weekly price action has confirmed a breakout from a Cup and Handle pattern above the Rs 685 level.

Furthermore, the share price is trading comfortably above its key 20-day, 50-day, 100-day and 200-day simple moving averages (SMAs), reinforcing positive momentum. Meanwhile, weekly and monthly Relative Strength Index (RSI) readings above the 50 mark point to sustained underlying strength. Investors should consider buying, holding and accumulating the stock.

Strategy: Buy

Target: Rs 755, Rs 785

Stop-Loss: Rs 690

Leela Palaces Hotels & Resorts | CMP: Rs 587.5

Leela Palaces Hotels & Resorts exhibits a robust uptrend across multiple time frames, characterised by a consistent series of higher tops and higher bottoms and reinforced by a recent all-time high of Rs 609. This bullish momentum is further underlined by a high-volume breakout above the multi-week resistance zone of Rs 573–580.

The stock is trading comfortably above its rising 20-day, 50-day, 100-day and 200-day simple moving averages (SMAs). Its daily, weekly and monthly Relative Strength Index (RSI) readings are also firmly in favourable territory, reflecting sustained underlying strength across all time frames. Investors should consider buying, holding and accumulating the stock.

Strategy: Buy

Target: Rs 620, Rs 640

Stop-Loss: Rs 570