Equity benchmarks witnessed a relief rally of around 1.8 percent on March 24, supported by improved market breadth. Approximately 2,315 shares saw buying interest, compared to 695 declining shares on the NSE. The market is expected to undergo consolidation with range-bound trading over the next couple of sessions. Below are some short-term trading ideas to consider:

Ashish Kyal, Founder and CEO of Waves Strategy Advisors

Jubilant Pharmova | CMP: Rs 860.35

The pharma sector has declined nearly 6 percent from its recent high; however, Jubilant Pharmova has emerged as a strong outperformer, gaining 12 percent over the past three weeks.

On the daily chart, the stock has been consolidating in the Rs 786–862 range over the past three weeks, indicating accumulation. In the previous session, it surged over 5 percent and closed near the upper end of the range, signaling bullish strength.

The stock has also closed above the middle Bollinger Band, suggesting improving momentum. Additionally, the KST indicator has moved above the signal line (red), and a further move above the zero line could trigger strong momentum. For now, a break above Rs 881 may initiate fresh buying, with potential targets of Rs 910 followed by Rs 945, while Rs 852 remains an important support level.

Strategy: Buy

Target: Rs 910, Rs 945

Stop-Loss: Rs 852

Linde India | CMP: Rs 7,393.5

In the previous session, Linde India posted a strong gain of over 9 percent, supported by a sharp rise in volumes—the first significant spike since February 13—indicating renewed buying interest. The stock also erased the losses of the previous three sessions in a single day, reflecting a shift in short-term sentiment in favour of bulls.

Technically, the price has broken above the upper Bollinger Band, reflecting strengthening momentum. Additionally, the RSI is hovering around 62, suggesting there is still room for further upside. For now, a sustained move above Rs 7,515 could push the stock towards Rs 7,815, followed by Rs 8,050 in the near term, while immediate support is placed at Rs 7,210.

Strategy: Buy

Target: Rs 7,815, Rs 8,050

Stop-Loss: Rs 7,210

Emcure Pharmaceuticals | CMP: Rs 1,539.7

Emcure Pharma has been displaying strong relative outperformance by holding steady in a weak market environment, where most indices have been under pressure. The 100 EMA has acted as a strong cushion, helping the stock hold firm while most indices are trading below this level.

Recently, the stock took support near the Rs 1,443 zone and witnessed a sharp bounce, gaining over 4.5 percent while closing above the previous three sessions’ high. This price action highlights strong buying interest emerging from lower levels and improving momentum.

For now, the stock is approaching its prior swing high of Rs 1,585, and a decisive break above this level could lift prices towards Rs 1,680 or higher, as long as the Rs 1,510 level holds on the downside.

Strategy: Buy

Target: Rs 1,585, Rs 1,680

Stop-Loss: Rs 1,510

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

Granules India | CMP: Rs 606.35

Granules India has exhibited a symmetrical triangle pattern, and a breakout from this pattern has been observed with rising volumes. The price structure of higher highs and higher lows indicates an uptrend in the stock. The stock is consistently trading above all its major exponential moving averages—20-day, 50-day, 100-day, and 200-day—with all EMAs sloping upwards, establishing a strong uptrend.

The breakout in price is accompanied by a breakout in the 14-period RSI, which further validates the pattern. A reading of 59 on the 14-period RSI suggests there is sufficient room for the rally to extend. The stock can be bought at current levels or on dips around Rs 600, as it is now finding fresh support around these levels.

Strategy: Buy

Target: Rs 636

Stop-Loss: Rs 585

Ather Energy | CMP: Rs 757

Ather Energy broke out of a consolidation phase a few days ago and has been sustaining above it since then. This breakout was supported by an expansion in volumes. The stock is consistently trading above all its major exponential moving averages—20-day, 50-day, 100-day, and 200-day—with all EMAs sloping upwards, confirming a strong uptrend. Previous resistance levels are now acting as support, following the principle of polarity.

Fresh buying can be considered at current levels or on minor dips near Rs 740, expecting a continuation of the uptrend.

Strategy: Buy

Target: Rs 830

Stop-Loss: Rs 706

DLF | CMP: Rs 521

DLF has been in a clear downtrend, forming lower highs and lower lows. The stock has been consistently trading below all major EMAs, which are sloping downward, indicating bearish price action. Previous support levels have turned into strong resistance zones, and this pattern continues to persist.

The stock is also facing resistance near a falling trendline on the hourly time frame, suggesting a continuation of the downtrend in the near term. Additionally, the 14-period RSI has recovered to around 41 from oversold levels and is now providing room for sellers to initiate fresh short positions.

A fresh sell can be initiated in the stock futures at current spot levels or on a bounce towards Rs 526, anticipating a further extension of the downtrend.

Strategy: Sell

Target: Rs 508, Rs 493

Stop-Loss: Rs 540