The benchmark indices extended their gains for the second consecutive session, with the Nifty 50 rising 1 percent on July 10 amid healthy market breadth. On the NSE, 2,104 shares advanced against 876 declining shares. The trend is expected to remain positive despite intermittent bouts of consolidation, with the focus on the previous week's high. Below are some short-term trading ideas to consider:

Rajesh Palviya, Head of Research at Axis Securities

Gravita India | CMP: Rs 1,854.6

With the last weekly close, Gravita India has decisively broken above a multi-year downward-sloping trendline at Rs 1,794 on a closing basis. The breakout was accompanied by strong volumes, indicating increased market participation. The stock has also confirmed a trend reversal by forming a series of higher highs and higher lows.

The stock is trading well above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also trending higher, reaffirming the bullish sentiment. Weekly Bollinger Band buy signals indicate strengthening momentum, while the daily, weekly, and monthly Relative Strength Index (RSI) remains in favourable territory, signalling improving strength across all timeframes.

Strategy: Buy

Target: Rs 1,950, Rs 2,050

Stop-Loss: Rs 1,800

Equitas Small Finance Bank | CMP: Rs 82.24

On the weekly chart, Equitas Small Finance Bank has decisively broken above the multiple resistance zone of the past couple of months near the Rs 75 level, supported by strong volumes. On both the daily and weekly charts, the stock continues to trend higher by forming a series of higher highs and higher lows.

The stock is trading comfortably above its 20-, 50-, 100-, and 200-day SMAs. These averages are also moving higher along with the price, reaffirming the bullish outlook. The daily, weekly, and monthly RSI remains in favourable territory, indicating strengthening momentum across all timeframes.

Strategy: Buy

Target: Rs 90, Rs 96

Stop-Loss: Rs 79

Ion Exchange India | CMP: Rs 468.3

Ion Exchange has decisively broken above the consolidation zone of Rs 320-440 by surpassing the Rs 440 level on a closing basis. The breakout was backed by strong volumes, indicating increased participation. The daily and weekly Bollinger Band buy signals also point to strengthening momentum.

The daily, weekly, and monthly RSI remains in favourable territory, reflecting strength across all timeframes. The stock is trading above its 20-, 50-, 100-, and 200-day SMAs, all of which are trending higher, reaffirming the bullish outlook.

Strategy: Buy

Target: Rs 505, Rs 545

Stop-Loss: Rs 455

Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One

Knowledge Marine & Engineering Works | CMP: Rs 2,412.7

The technical structure of Knowledge Marine & Engineering Works appears poised to resume its strong uptrend after a brief phase of consolidation. Across multiple timeframes, the Point & Figure setup has turned convincingly bullish.

The stock has delivered a follow-through Double Top Buy on the daily 1% × 3 chart, while a Double Top Buy on the daily 3% × 3 chart, after taking support near its 10-column moving average, suggests that the bulls remain firmly in control and that higher levels are likely in the sessions ahead.

The Point & Figure charts further reinforce this positive undertone. The follow-through bullish formations across the 1% × 3 and 3% × 3 charts highlight sustained accumulation, while the support near the 10-column moving average underscores the strength of the underlying trend. This alignment across timeframes suggests that the stock is well placed to continue its upward trajectory. Hence, buying is recommended in the Rs 2,410-2,400 range.

Strategy: Buy

Target: Rs 2,500, Rs 2,550

Stop-Loss: Rs 2,168

Choice International | CMP: Rs 835

Following a breakout above its objective 45-degree trendline, Choice International has triggered a Bullish Double Top Buy on both the daily 0.25% × 3 and 1% × 3 Point & Figure charts, indicating improving momentum across the short- and medium-term timeframes.

The bullish setup is further reinforced on the higher-timeframe 3% × 3 Point & Figure chart, where the stock has also broken above its objective 45-degree trendline while simultaneously forming a higher high. The alignment of bullish signals across multiple Point & Figure timeframes suggests that the stock is undergoing a meaningful trend reversal and is well placed to extend its upward trajectory in the sessions ahead.

Hence, buying is recommended in the Rs 835-830 range.

Strategy: Buy

Target: Rs 950, Rs 960

Stop-Loss: Rs 762

Grasim Industries | CMP: Rs 3,213.6

Grasim Industries continues to exhibit a strong technical setup, with the stock repeatedly finding support around its 20-day DEMA, highlighting sustained buying interest on declines. Adding further conviction to the bullish structure, the daily 1% × 3 Point & Figure chart has delivered a follow-through Double Top Buy, which also resembles a Super Pattern breakout, indicating the potential for a sustained uptrend.

The bullish setup is further reinforced on the higher-timeframe 3% × 3 Point & Figure chart, where the stock, after trapping bears through a Bear Trap formation, has now triggered a Double Top Buy. The alignment of bullish formations across multiple Point & Figure timeframes suggests that buyers remain firmly in control, and the stock appears well positioned to extend its ongoing uptrend.

Hence, buying is recommended in the Rs 3,210-3,200 range.

Strategy: Buy

Target: Rs 3,500, Rs 3,550

Stop-Loss: Rs 3,040

Mahesh M Ojha, VP - Research and Business Development at Kantilal Chhaganlal Securities

SBI Life Insurance Company | CMP: Rs 1,862.9

SBI Life Insurance has recovered from its swing lows, signalling a bullish reversal. The stock has moved above the middle Bollinger Band (20-day SMA), indicating improving momentum.

The recent series of higher lows suggests that buyers are gradually regaining control. The RSI, at 61.3, also points to strengthening bullish momentum.

Price action is expected to remain positive as long as the stock sustains above its key support zones. Hence, buying is advised in the Rs 1,852-1,863 range.

Strategy: Buy

Target: Rs 1,910, Rs 1,958, Rs 1,990

Stop-Loss: Rs 1,780

Indus Towers | CMP: Rs 406.15

Indus Towers formed a bullish candlestick and closed above the middle Bollinger Band, indicating improving momentum. The Bollinger Bands remain relatively narrow, suggesting that volatility has contracted and that a larger directional move could develop.

Volumes improved during the recent recovery, supporting the bullish reversal. The RSI moved above the 50 mark after recovering from oversold territory, reflecting improving bullish momentum.

Hence, buying is recommended in the Rs 402-406 range.

Strategy: Buy

Target: Rs 420 Rs 435, Rs 445

Stop-Loss: Rs 395