The benchmark indices closed a consolidative session on a flat note on April 20, as traders turned cautious amid uncertainty surrounding the Strait of Hormuz. Market breadth weakened, with 1,855 shares declining against 1,123 advancing shares on the NSE. The market may continue to consolidate with range-bound trading, as the Iran ceasefire is set to expire soon. Below are some short-term trading ideas to consider:

Jigar S Patel, Senior Manager - Equity Research at Anand Rathi

PB Fintech | CMP: 1,616.8

PB Fintech has witnessed a strong breakout after consolidating for nearly 43 trading sessions. The stock has moved above its falling trendline, as seen on the chart, indicating a potential trend reversal and fresh bullish momentum. This breakout suggests that the prolonged consolidation phase may have ended, opening room for further upside.

Supporting indicators also strengthen the positive view. The DMI setup has turned favourable, signalling improving buying strength, while the RSI is trading above the 60 mark, reflecting strong momentum and healthy price action. With both trend and momentum indicators aligned positively, the stock looks well placed for a continued upward move. Traders may consider entering long positions in the Rs 1,610–1,580 zone.

Strategy: Buy

Target: Rs 1,795

Stop-Loss: Rs 1,500

Tata Power Company | CMP: Rs 433.6

Tata Power Company has recently witnessed a breakout above its falling trendline, as observed on the chart, indicating a potential reversal in trend and fresh bullish momentum. This breakout reflects improving sentiment and suggests that buyers are regaining control after a consolidation phase.

Supporting indicators further strengthen the positive outlook. The RSI is trading above the 60 mark, which signals strong momentum and sustained buying interest. In addition, the DMI setup remains favourable, highlighting strengthening upward price action. With both price structure and momentum indicators aligned positively, the stock appears well placed for further upside in the near term. Traders may consider entering long positions in the Rs 435–425 zone.

Strategy: Buy

Target: Rs 480

Stop-Loss: Rs 399

United Breweries | CMP: Rs 1,522.3

United Breweries has shown encouraging signs of reversal on the daily chart, making it an attractive trading opportunity. The stock has formed a bullish divergence, where price weakness was not confirmed by momentum indicators, suggesting that selling pressure may be fading. This setup has emerged near the yearly pivot support level, which adds strength to the technical outlook.

In addition, the Stochastics indicator has reversed from the oversold zone, signalling a possible recovery in momentum. Traders may consider entering long positions in the Rs 1,530–1,510 zone.

Strategy: Buy

Target: Rs 1,775

Stop-Loss: Rs 1,400

Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities

Swiggy | CMP: Rs 279.15

Swiggy seems to have formed a base near the Rs 270 level, indicating a further bounce-back on account of short covering. The stock still has significant short positions, and with positive divergence on the daily charts, there is a higher probability of a bounce-back toward the Rs 300 level.

As per the options data, there is a large Call base at the Rs 280–300 strikes, which is acting as a resistance zone. However, once it moves beyond its maximum pain level of Rs 280, it is likely to witness the next round of short covering, which can lead to Call unwinding. Traders may consider buying Swiggy futures in the range of Rs 275–280.

Strategy: Buy

Target: Rs 300, Rs 310

Stop-Loss: Rs 265

KFin Technologies | CMP: Rs 975.1

KFin Technologies has formed a significant base and has provided a breakout above multiple swing resistance levels, with clear long buildup, which is a positive sign in the near term. The stock had fallen on account of short buildup; however, in the last leg of the decline, the majority of short positions were covered. It is now witnessing fresh long buildup along with this breakout, indicating higher upside probability.

As per the options data, there is a Put base at the Rs 920 level, which acts as strong support. The Rs 980–1,020 strikes have a strong Call base; hence, the broader range is Rs 920–1,020, and the stock is likely to test the upper end of this range. Traders may consider buying KFin Technologies futures in the range of Rs 965–975.

Strategy: Buy

Target: Rs 1,010, Rs 1,030

Stop-Loss: Rs 955

Lodha Developers | CMP: Rs 856.55

Lodha Developers has witnessed a decent bounce-back on account of short covering, and the Nifty Realty index is one of the top performers in terms of recovery. However, as the index appears to have reached a profit-booking zone, high-beta names may also witness some profit booking. Hence, Lodha Developers may correct toward its next support levels.

As per the options data, the Rs 800 strike has the highest Put base, which is the short-term target. Unless this level is breached, the stock is likely to find support around it. Traders may consider selling Lodha futures in the range of Rs 850–860.

Strategy: Sell

Target: Rs 820, Rs 800

Stop-Loss: Rs 875

Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan

Great Eastern Shipping Company | CMP: Rs 1,423.6

Great Eastern Shipping Company is consolidating within a broader range of Rs 1,330–1,510 after a strong upmove. Recently, the stock has bounced back from the lower end of its trading range and is trading above the 40-day EMA.

The momentum indicator on the daily chart has given a bullish crossover in Monday’s trading session, indicating that the consolidation phase may be over and bullish momentum is expected to pick up in the coming sessions.

Strategy: Buy

Target: Rs 1,510, Rs 1,550

Stop-Loss: Rs 1,370

Apar Industries | CMP: Rs 11,977

After forming a peak in January 2025, Apar Industries formed a large cup-and-handle pattern. In Monday’s trading session, the stock decisively broke out of this pattern and made a new all-time high despite prevailing market uncertainty. This indicates that the stock is in a bullish phase, and the breakout further reinforces the positive outlook.

Strategy: Buy

Target: Rs 13,000, Rs 13,500

Stop-Loss: Rs 11,380

Acutaas Chemicals | CMP: Rs 2,410.7

Acutas Chemicals has been an outperformer and has been holding above the 40-day EMA. Recently, the stock corrected from a high of Rs 2,635 and closed below the 40-day EMA for a day; however, it recovered thereafter. In Monday’s trading session, the stock closed above the 20-day SMA, and the daily momentum indicator also gave a bullish crossover.

In the short term, the stock has formed a trading range of Rs 2,250–2,440. A bullish crossover in the momentum indicator provides an early indication of a potential range breakout. Dips toward Rs 2,390–2,380 should be used as an opportunity to accumulate.

Strategy: Buy

Target: Rs 2,580, Rs 2,635

Stop-Loss: Rs 2,250