The benchmark indices corrected after four consecutive sessions of gains, with the Nifty 50 falling 0.64 percent on August 4 amid weak market breadth. On the NSE, 1,618 shares declined compared with 1,388 shares that advanced. The market is expected to rebound after a session of profit booking. However, Monday's high remains a crucial hurdle for a sharp upside. Below are some short-term trading ideas to consider:

Amol Athawale, VP Technical Research at Kotak Securities

Jindal Steel | CMP: Rs 1,124

Following its recent decline, Jindal Steel has reversed from an important support zone. The stock has formed a rounding bottom pattern on the daily chart and is witnessing a steady upmove. The Relative Strength Index (RSI) is also indicating a further uptrend from current levels, which could strengthen the bullish momentum in the coming sessions.

As long as the stock trades above Rs 1,075, the bullish bias is likely to remain intact. A sustained move above this level could take the stock towards Rs 1,190.

Strategy: Buy

Target: Rs 1,190

Stop-Loss: Rs 1,075

Swiggy | CMP: Rs 291

After a remarkable rally from lower levels and a breather over the past few sessions, Swiggy is regaining momentum for a fresh upmove. The breakout from the consolidation pattern on the chart indicates a bullish continuation setup.

Therefore, the upward momentum in the stock is likely to persist in the near term. Over the next few trading sessions, Rs 280 will be the key trend-deciding level for the bulls. If the stock sustains above this level, it could extend its uptrend towards Rs 310.

Strategy: Buy

Target: Rs 310

Stop-Loss: Rs 280

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

Hindustan Zinc | CMP: Rs 562.9

In the previous session, Hindustan Zinc outperformed most of the broader market, closing nearly 3 percent higher and indicating strong relative strength. The stock has also broken out of its month-long accumulation phase, signalling a gradual trend reversal and the beginning of a new uptrend.

Additionally, the stock has broken above the upper Bollinger Band, indicating increased price volatility. Therefore, dips towards the Rs 555-553 zone can be used as buying opportunities for a move towards Rs 575, followed by Rs 590, while Rs 530 remains a key support level.

Strategy: Buy

Target: Rs 575, Rs 590

Stop-Loss: Rs 530

Siemens | CMP: Rs 4,000.5

Siemens has surged more than 10 percent over the past three sessions and also touched a fresh 52-week high in the previous session, highlighting strong bullish momentum. The stock has broken above its previous swing high, clearing the resistance zone of Rs 3,880-3,930, which has now turned into a support level based on the principle of polarity.

Trading volumes have also remained above average over the past three sessions, confirming the strength of the ongoing trend. The ADX and DI indicators have moved above the 25 level and continue to trend higher, indicating strengthening bullish momentum. A move above the previous session's high of around Rs 4,075 could push the stock towards Rs 4,240, followed by Rs 4,350. On the downside, Rs 3,910 is expected to act as immediate support.

Strategy: Buy

Target: Rs 4,240, Rs 4,350

Stop-Loss: Rs 3,910

EID Parry India | CMP: Rs 803.1

EID Parry rallied nearly 3 percent in the previous trading session, confirming a breakout above its narrow consolidation range of Rs 746-789 by closing at Rs 803. This breakout indicates renewed buying interest. The 20-period EMA has also crossed above the 40-period EMA after a prolonged period, signalling a positive trend reversal.

The RSI continues to hold firm around 63, reflecting healthy bullish momentum. The stock is now trading near the key resistance level of Rs 803, and a sustained move above Rs 810 could trigger the next leg of the rally towards Rs 845, followed by Rs 870, as long as it holds above the Rs 775 support level.

Strategy: Buy

Target: Rs 845, Rs 870

Stop-Loss: Rs 775

Kapil Shah, Technical Analyst, Emkay Global Financial Services

Graphite India | CMP: Rs 710

Graphite India is witnessing a bullish breakout from a multi-year symmetrical triangle pattern, indicating the potential beginning of a fresh uptrend. The stock continues to trade well above its 200-day EMA, reflecting strong long-term momentum, while the RSI remains above the 60 mark, supporting positive price strength.

The breakout suggests improving buying interest and the potential for further upside. Buy the stock in the Rs 710-680 zone.

Strategy: Buy

Target: Rs 800

Stop-Loss: Rs 650

Inventurus Knowledge Solutions | CMP: Rs 1,845.9

Inventurus Knowledge Solutions (IKS) is displaying the characteristics of a Stage 2 stock, where institutional accumulation transitions into a sustained price uptrend. After a prolonged consolidation, the stock has entered a momentum phase while maintaining its typical correction profile of 8-9 percent before resuming its upward trajectory.

The stock has also taken support near its 1.5-year consolidation breakout zone, reinforcing the bullish structure. Investors can accumulate  the stock in the Rs 1,840-1,750 zone from a positional perspective.

Strategy: Buy

Target: Rs 2,100

Stop-Loss: Rs 1,700