Equity benchmarks closed moderately higher after a phase of consolidation on July 15, with market breadth favouring the bulls. About 1,616 shares witnessed buying interest, while 1,353 shares came under selling pressure on the NSE. The market is expected to trend higher amid range-bound trading, though the sustainability of higher levels will be key to watch. Below are some short-term trading ideas to consider.

Rupak De, Senior Technical Analyst at LKP Securities

ICICI Prudential Life Insurance Company | CMP: Rs 525.15

ICICI Prudential Life Insurance Company has risen above its previous swing high on the daily timeframe, indicating improving bullish sentiment. The stock has reclaimed its 50-day EMA, confirming the prevailing uptrend. Momentum indicators further reinforce the bullish outlook, with the RSI on the daily timeframe witnessing a positive crossover and trending higher.

The overall technical structure remains constructive, suggesting the stock is well positioned for further gains. Based on the current setup, the short- to medium-term trend is likely to remain positive, with the potential for a significant rally in the stock price.

Strategy: Buy

Target: Rs 560

Stop-Loss: Rs 507

L&T Technology Services | CMP: Rs 3,508.3

L&T Technology Services has broken out of a falling channel pattern on the daily timeframe following a healthy correction. Additionally, the stock has moved above the crucial 50-day Exponential Moving Average (EMA), reinforcing the underlying strength.

Momentum indicators also support the positive outlook, with the RSI breaking out of a downward consolidation on the daily timeframe. Based on the current technical setup, the short- to medium-term trend is expected to remain positive, with the potential for a significant rally in the stock price.

Strategy: Buy

Target: Rs 3,900

Stop-Loss: Rs 3,300

Gabriel India | CMP: Rs 1,354.5

Gabriel India has broken out of a consolidation pattern on the daily chart, indicating the resumption of its uptrend after a healthy pause. The broader trend remains positive, as the stock continues to trade comfortably above the crucial 50-day EMA, reinforcing the underlying strength.

Additionally, the RSI has also broken out of a consolidation phase. Based on the current technical setup, the stock appears well positioned for a meaningful upmove, with the potential to rally towards Rs 1,500 in the near term. On the downside, a stop-loss should be maintained below Rs 1,280, below which the stock may slip back into a consolidation phase.

Strategy: Buy

Target: Rs 1,500

Stop-Loss: Rs 1,280

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

ABB India | CMP: Rs 7,204.5

ABB is on the verge of a consolidation breakout on the daily chart. Notably, the stock witnessed a sharp surge in trading volumes on Wednesday, even before the breakout materialised. Further, momentum has strengthened considerably, with the RSI rising from 42 to 59 in just six trading sessions, reflecting growing buying interest.

The DI has crossed above the DI- on the ADX indicator, indicating that the bulls are gradually gaining control. Adding to the positive setup, the MACD is on the verge of a bullish crossover above the signal line, hinting at strengthening momentum. The alignment of these technical indicators suggests ABB is well placed for a bullish breakout and short-term outperformance.

Hence, accumulation is recommended in the Rs 7,150-7,225 zone, with a stop-loss at Rs 6,935. On the upside, the stock is likely to test the Rs 7,730 level in the short term.

Strategy: Buy

Target: Rs 7,730

Stop-Loss: Rs 6,935

Endurance Technologies | CMP: Rs 2,746.2

Endurance Technologies is on the verge of breaking out of a symmetrical triangle pattern on the daily chart, signalling the potential beginning of a fresh bullish leg. Momentum has strengthened meaningfully, with the RSI breaking out of a prolonged sideways phase and sustaining above the 60 mark, reflecting renewed buying interest. The stock continues to trade above its key short- and long-term moving averages, reinforcing the prevailing uptrend.

Additionally, a strong rebound from the middle Bollinger Band, backed by robust trading volumes, highlights sustained demand at lower levels. The alignment of these technical indicators points towards a high-probability breakout and further upside in the near term.

Hence, accumulation is recommended in the stock in the Rs 2,725-2,750 zone, with a stop-loss at Rs 2,640. On the upside, it is likely to test the Rs 2,950 level in the short term.

Strategy: Buy

Target: Rs 2,950

Stop-Loss: Rs 2,640

Eternal | CMP: Rs 294.8

Eternal found support near its 13-day EMA and subsequently resumed its upward movement. The stock continues to trade comfortably above its key short- and long-term moving averages, reflecting sustained strength across timeframes. Trend strength also remains robust, with the rising ADX on the daily chart indicating a strengthening bullish trend.

On the weekly timeframe, the MACD has crossed above the zero line, with expanding green histogram bars highlighting accelerating positive momentum. Adding further conviction, the weekly RSI has reclaimed the 60 mark, reinforcing bullish sentiment and suggesting that the stock is well positioned for further upside.

Hence, accumulation is recommended in the Rs 292-296 zone, with a stop-loss at Rs 284. On the upside, the stock is likely to test the Rs 315 level in the short term.

Strategy: Buy

Target: Rs 315

Stop-Loss: Rs 284

Vaishali Patel, Deputy Manager - Research- Technical Department at Jainam

Aarti Industries | CMP: Rs 500.7

Aarti Industries has confirmed a breakout from an inverse Head & Shoulders pattern, indicating a potential trend reversal and the beginning of a fresh bullish phase. The stock has decisively crossed the neckline resistance in the Rs 495-500 zone on rising volumes, reflecting renewed buying interest. The breakout from this reversal pattern also suggests that demand is gradually overpowering supply.

Momentum indicators remain supportive, with the RSI moving above the 60 level and trending higher, indicating improving momentum. The stock is trading firmly above its short- and medium-term moving averages, and the placement of these averages is in COMA (Correct Order of Moving Averages), suggesting a strong bullish trend on the daily chart.

Strategy: Buy

Target: Rs 540

Stop-Loss: Rs 474

Federal-Mogul Goetze (India) | CMP: Rs 488.65

Federal-Mogul Goetze has confirmed a breakout from an ascending triangle pattern, signalling the continuation of its emerging uptrend. The stock successfully surpassed the horizontal resistance near the Rs 480 level on strong volumes on the daily chart, while the series of higher lows reflects sustained buying interest and improving market sentiment.

The prior uptrend was accompanied by strong trading volumes, indicating robust institutional participation and improving conviction among buyers. Momentum indicators also remain constructive. The RSI has moved above the 60 mark and remained within the bullish 40-80 range during the consolidation phase, suggesting strengthening bullish momentum.

Strategy: Buy

Target: Rs 520

Stop-Loss: Rs 470

Emami Paper Mills | CMP: Rs 90.05

Emami Paper Mills has shown a significant improvement in its technical setup by closing above a key horizontal resistance after several weeks of consolidation on the daily chart. This breakout indicates renewed buying interest and suggests that the stock is transitioning into a Stage-2 uptrend, where sustained price acceleration is often witnessed. The breakout has been backed by above-average trading volumes, highlighting strong market participation.

The stock is also trading above its 20-day and 50-day moving averages, while both continue to trend higher, reflecting a strengthening medium-term trend.

The RSI remains within the bullish range, signalling that momentum continues to favour the bulls without entering an overbought zone. This indicates that the current uptrend remains healthy and has the potential to continue. The Relative Strength (RS) line also continues to trend higher, highlighting the stock's outperformance against the broader market and suggesting increasing buying participation.

Strategy: Buy

Target: Rs 97

Stop-Loss: Rs 86