Equity benchmarks bounced back after a day of sharp decline, with the Nifty 50 rising 0.46 percent on February 20. However, market breadth was slightly in favour of bears, as about 1,532 shares declined against 1,395 advancing shares on the NSE. The market is expected to maintain its uptrend if it sustains above the midline of the Bollinger Bands. Below are some short-term trading ideas to consider:

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

CG Power and Industrial Solutions | CMP: Rs 712.15

On the weekly charts, CG Power has staged a robust recovery, decisively surpassing the downward-sloping trendline resistance level at Rs 695 on a closing basis. The recent price action is supported by a significant surge in trading volumes, signifying strong market participation.

The stock is currently well placed above its key moving averages, including the 20-, 50-, 100-, and 200-day SMAs, which reconfirms a structurally bullish trend. The weekly strength indicator, RSI (14), has shifted into positive territory (above 60) and is trending higher, reflecting rising underlying strength and the absence of immediate exhaustion.

Strategy: Buy

Target: Rs 760, Rs 790

Stop-Loss: Rs 690

Thermax | CMP: Rs 3,151.8

On the daily chart, Thermax has completed a significant Double Bottom breakout, rebounding twice from the strong support zone near Rs 2,740 and decisively clearing the neckline resistance at Rs 3,120 on a closing basis. It has also broken above the medium-term downward-sloping trendline at Rs 3,080, which had been intact since November 2024, signalling a structural reversal.

The breakout is backed by a sharp surge in volumes, highlighting strong market participation and conviction. Momentum further reinforces the bullish setup, with the weekly RSI (14) advancing to 62 and firmly entering positive territory, confirming strengthening price momentum.

Strategy: Buy

Target: Rs 3,375, Rs 3,550

Stop-Loss: Rs 3,050

Indian Bank | CMP: Rs 946.7

On the weekly chart, Indian Bank has scaled fresh record highs in February 2026, sustaining a strong upward trajectory. Following a phase of consolidation, it has delivered a decisive breakout above the prior swing high and key resistance near Rs 910 on a closing basis, reaffirming trend strength.

The stock remains firmly positioned above its 20-, 50-, 100-, and 200-day SMAs, validating a well-established bullish structure. Weekly Bollinger Band signals continue to favour the upside, with price action advancing within a rising channel. The weekly RSI (14) stands strong at 70.68, reflecting sustained momentum and robust underlying strength.

Strategy: Buy

Target: Rs 985, Rs 1,015

Stop-Loss: Rs 915

Rajesh Bhosale, Technical Analyst at Angel One

NTPC | CMP: Rs 373

NTPC is witnessing multiple price pattern breakouts across timeframes. On the weekly chart, prices have moved above the March 2025 swing high, confirming a year-long saucer pattern breakout. On the daily chart, a strong continuation breakout in the form of a flag pattern is visible.

Additionally, the RSI across timeframes remains above 60, indicating sustained positive momentum and a strengthening overall trend. Hence, we recommend buying NTPC in the range of Rs 373–370.

Strategy: Buy

Target: Rs 393

Stop-Loss: Rs 362

Petronet LNG | CMP: Rs 306.65

Despite volatile market conditions, Petronet LNG has exhibited relative strength, confirming a strong price pattern breakout. On the daily chart, prices have validated an inverse head-and-shoulders breakout, supported by a notable surge in volumes.

Additionally, the stock is trading well above all major moving averages, further reinforcing the positive bias. Hence, we recommend buying Petronet LNG around Rs 306–302.

Strategy: Buy

Target: Rs 330

Stop-Loss: Rs 294

Graphite India | CMP: Rs 690.85

Graphite India is witnessing a significant long-term breakout. Over the past eight years, prices were confined within a symmetrical triangle formation, and a decisive consolidation breakout is now visible on the monthly chart. On the shorter timeframe as well, a strong breakout is evident, with a rounding saucer formation emerging on the daily chart.

The volume structure further strengthens the bullish case, as upmoves are accompanied by strong volumes, while declines are marked by relatively lower volumes—indicating accumulation at lower levels. Hence, we recommend buying Graphite India around Rs 692–685.

Strategy: Buy

Target: Rs 750

Stop-Loss: Rs 660

Anshul Jain, Head of Research at Lakshmishree Investments

Vardhman Textiles | CMP: Rs 536.45

Vardhman Textiles has held firm within its 213-week cup-and-handle structure despite volatility during the Trump tariff phase, reflecting strong structural resilience. The base remained intact through external shocks, underscoring underlying demand. With the tariff overhang easing after clarity from the US Supreme Court, sentiment tailwinds could add incremental momentum.

The price is now approaching the neckline near Rs 565, the key inflection point for trend confirmation. A decisive breach and sustained close above Rs 565 would confirm pattern resolution and open the path toward the Rs 660 to 700 zone initially. Daily and weekly RSI readings are positioned constructively, indicating room for momentum expansion rather than exhaustion. The risk–reward remains favourable near the pivot, with failure to clear Rs 565 likely resulting in continued consolidation rather than immediate downside.

Strategy: Buy

Target: Rs 660

Stop-Loss: Rs 480

Astral | CMP: Rs 1,636.6

Astral has confirmed a breakout from a 164-day bullish VCP (volatility contraction pattern) near Rs 1,586, signaling strong volatility contraction resolution. The stock is now resting on the rising daily 10- and 20-day EMAs, which are acting as a launchpad and reinforcing short-term trend strength. Volume behaviour during the breakout reflects steady participation, while daily and weekly RSI readings are firmly in bullish territory, supporting a continuation bias.

The structure remains constructive as long as the price holds above the VCP pivot. A decisive breach above Rs 1,650 would likely trigger fresh momentum expansion, opening an immediate move toward Rs 1,700 and potentially extending to the Rs 1,800 zone. Pullbacks into the moving average cluster should be treated as accumulation opportunities, provided volume remains supportive. The risk–reward favours the upside until the breakout base is decisively violated.

Strategy: Buy

Target: Rs 1,700, Rs 1,800

Stop-Loss: Rs 1,560

AGI Infra | CMP: Rs 273.85

AGI Infra has reversed sharply from the Rs 230–225 range bottom, printing a strong bullish marubozu that engulfed the prior three weeks of losses on elevated volumes. The thrust suggests weak longs have been flushed out, while stronger hands accumulated aggressively. In a single weekly candle, the price cleared key unmitigated supply zones on both weekly and monthly charts, improving the higher-timeframe structure.

Momentum has turned constructive, and volatility expansion hints at an imminent resolution. A decisive move above Rs 287 would confirm an 18-week rectangle breakout and likely trigger swift follow-through toward the Rs 330 zone. The risk–reward remains favourable near the pivot, with failure to hold above the reclaimed base delaying, not negating, the bullish thesis. Volume continuity will be critical to sustaining the breakout.

Strategy: Buy

Target: Rs 330

Stop-Loss: Rs 250