Equity benchmarks soared nearly 4 percent on April 8, extending the uptrend for the fifth consecutive session following the US-Iran ceasefire deal. The market breadth was strong, with 2,795 shares advancing against 250 declining shares on the NSE. The market may consolidate with range-bound trading in the upcoming session, especially after the sharp rally. Below are some short-term trading ideas to consider:

Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse

Manappuram Finance | CMP: Rs 269.55

Manappuram Finance earlier found support around the Rs 245 level, forming a potential double bottom pattern, and has witnessed a strong rebound. It has also broken out above a falling trendline and reclaimed its short-term 21-DMA, currently placed near Rs 258.

Momentum indicators further reinforced the positive bias, with the RSI moving above the 50 mark and the MACD indicating a bullish crossover. Given the overall technical setup, the stock appears well-positioned to advance towards a conservative target of Rs 290, while immediate support is seen at the 21-DMA around Rs 258.

Strategy: Buy

Target: Rs 290

Stop-Loss: Rs 258

Polycab India | CMP: Rs 7,600.5

Polycab India has recently formed a triple bottom pattern and witnessed a strong pullback, supported by a short-covering rally. It has also moved above all key short-term and long-term moving averages, indicating a strengthening price structure.

Momentum indicators further support the positive outlook, with the MACD generating a fresh buy crossover and the RSI moving above the 50 mark, suggesting the pullback could extend further. On the derivatives front, a fresh addition in open interest indicates long build-up, reinforcing the improving bullish sentiment.

Overall, the technical setup points towards a potential upside move to the Rs 8,200 level, while immediate support is placed at the 200-DMA around Rs 7,300.

Strategy: Buy

Target: Rs 8,200

Stop-Loss: Rs 7,300

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Titan Company | CMP: Rs 4,492.5

Titan Company has given a falling channel breakout on the daily chart, backed by a strong surge in volumes, lending credibility to the move. Momentum indicators remain supportive. The RSI is trending higher, while DI crossing above DI- signals a positive directional bias.

Additionally, the MACD has moved above the zero line with expanding histogram bars, reinforcing strength. After a sharp 17 percent pullback from its 200-day EMA in the last 9 trading sessions, the stock appears well-positioned to continue its upward trajectory in the near term. Hence, we recommend accumulating the stock in the zone of Rs 4,500–4,460 with a stop-loss of Rs 4,320. On the upside, it is likely to test the level of Rs 4,800 in the short term.

Strategy: Buy

Target: Rs 4,800

Stop-Loss: Rs 4,320

Union Bank of India | CMP: Rs 185.66

Union Bank of India has broken out decisively from its Rs 163–183.5 consolidation range, signalling the start of a fresh bullish phase. The DI crossing above DI- highlights a clear shift in control toward the bulls, while the RSI turning higher reflects strengthening momentum.

Importantly, the stock has moved above the Bollinger Bands midline and the 20-day moving average, indicating improving short-term trend strength. Overall, the setup suggests growing bullish momentum with the potential for further upside in the near term. Hence, we recommend accumulating the stock in the zone of Rs 186–184 with a stop-loss of Rs 178. On the upside, it is likely to test the level of Rs 205 in the short term.

Strategy: Buy

Target: Rs 205

Stop-Loss: Rs 178

APL Apollo Tubes | CMP: Rs 2,047.7

APL Apollo Tubes has staged a strong breakout from its Rs 1,834–2,025 consolidation range on the daily chart. The RSI, which was hovering near 40, has seen a sharp uptick, signalling a revival in bullish momentum. Notably, the stock held firmly above its 200-day EMA during the consolidation, reflecting underlying strength.

The DI crossing above DI- further confirms a shift in favour of the bulls. With the metal sector outperforming the broader market, APL Apollo Tubes appears well-positioned to lead the next leg of the rally. Hence, we recommend accumulating the stock in the zone of Rs 2,050–2,030 with a stop-loss of Rs 1,960. On the upside, it is likely to test the level of Rs 2,220 in the short term.

Strategy: Buy

Target: Rs 2,220

Stop-Loss: Rs 1,960

Rupak De, Senior Technical Analyst at LKP Securities

Mahanagar Gas | CMP: Rs 1,008.55

Mahanagar Gas has given a consolidation breakout on the daily chart, suggesting a rise in optimism. It has moved above the 21 EMA, confirming an improving trend. The RSI has also moved out of the oversold zone, indicating strengthening positive momentum.

On the upside, the stock may move towards Rs 1,065, while immediate support is placed at Rs 974. A fall below this level could weaken the sentiment again.

Strategy: Buy

Target: Rs 1,065

Stop-Loss: Rs 974

Motilal Oswal Financial Services | CMP: Rs 757.4

On the daily chart, Motilal Oswal Financial Services has given a consolidation breakout, suggesting a rise in optimism. It has moved above the 50-DMA, confirming an improvement in the trend. The RSI has developed positive divergence on the daily chart.

On the upside, the stock may move towards Rs 800, while immediate support is placed at Rs 737. A fall below this level could weaken the sentiment again.

Strategy: Buy

Target: Rs 800

Stop-Loss: Rs 737

Indus Towers | CMP: Rs 440.95

Indus Towers has given a downward consolidation breakout on the daily chart, suggesting a rise in optimism. Besides, it has moved above the 50 EMA, confirming an improving trend. The RSI has also moved out of consolidation, indicating strengthening positive momentum.

On the upside, the stock may move towards Rs 462, while immediate support is placed at Rs 428. A fall below the Rs 428 level could weaken the sentiment again.

Strategy: Buy

Target: Rs 462

Stop-Loss: Rs 428