Equity benchmark indices closed off the day's lows with a loss of 0.43 percent on July 24, while the market breadth remained slightly in favour of the bears. About 1,587 shares declined compared to 1,383 advancing shares on the NSE. A sharp decline in oil prices from around the $100-a-barrel mark could help the market stage a rebound, but the sustainability of any recovery will be the key factor to watch. Below are some short-term trading ideas to consider:

Osho Krishan, Chief Manager - Technical & Derivative Research at Angle One

Action Construction Equipment | CMP: Rs 1,039.4

ACE has staged a strong recovery over the past few weeks, decisively reclaiming its 20-day EMA after a prolonged corrective phase. The stock has recently surged above its 200-day EMA, supported by positive crossovers among the shorter-term moving averages, indicating strengthening momentum.

Furthermore, the formation of a bullish flag pattern on the charts, backed by supportive technical indicators, reinforces the constructive outlook and suggests the potential for further upside in the near term. Buying is recommended in the stock around Rs 1,020-1,000.

Strategy: Buy

Target: Rs 1,150, Rs 1,160

Stop-Loss: Rs 935

Gujarat Ambuja Exports | CMP: Rs 151.64

Gujarat Ambuja Exports has witnessed a strong resurgence from the Rs 138 sub-zone, coinciding with its 200-day SMA, indicating a strong support base. The stock appears to be forming a potential bullish reversal pattern and has successfully retested its 20-day and 50-day DEMA.

Furthermore, a positive crossover in the 14-day RSI from the oversold zone, followed by a spurt in volumes, indicates a favourable outlook and strengthening bullish momentum. Hence, buying is recommended in the stock around Rs 150-145.

Strategy: Buy

Target: Rs 170, Rs 175

Stop-Loss:Rs 135

Hero MotoCorp | CMP: Rs 5,011

Hero MotoCorp has regained lost ground and rebounded above its 20-day, 50-day, and 100-day EMAs, supported by strong volumes. The stock has also moved above the downward-sloping trendline, suggesting a potential revival from the ongoing corrective phase after an extended period.

Momentum indicators remain aligned with the price action, reinforcing the positive bias and suggesting further near-term upside potential. Hence, buying is recommended in the stock around Rs 5,000.

Strategy: Buy

Target: Rs 5,400, 5,500

Stop-Loss: Rs 4,750

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

Laxmi Organic Industries | CMP: Rs 182.28

On the weekly chart, Laxmi Organic Industries has delivered a decisive breakout above the medium-term downward-sloping trendline at Rs 177 on a closing basis, signalling the continuation of the prevailing uptrend. The breakout has been accompanied by a sharp increase in volumes, highlighting strong market participation and validating its strength.

The stock is trading firmly above its 20-day, 50-day, 100-day, and 200-day SMAs, with all key moving averages trending higher in sync with the price action, confirming a robust bullish structure. Momentum indicators remain supportive, with the weekly RSI holding above its reference line and breaking above its horizontal resistance near 58, reinforcing strengthening bullish momentum and a positive price outlook.

Strategy: Buy

Target: Rs 200, Rs 235

Stop-Loss: Rs 170

Lloyds Metals And Energy |CMP: Rs 1,940.5

On the weekly chart, Lloyds Metals continues to trend higher, forming a series of higher highs and higher lows, reflecting a strong and sustained bullish trend. With the latest weekly close, the stock has delivered a decisive breakout above the consolidation zone between Rs 1,650 and Rs 1,885, signalling the continuation of the prevailing uptrend.

The stock is trading firmly above its 20-day, 50-day, 100-day, and 200-day SMAs, with all key moving averages trending higher in sync with the price action, confirming a robust bullish structure. The daily, weekly, and monthly RSI remain in positive territory, signalling increasing strength.

Strategy: Buy

Target: Rs 2,100, Rs 2,200

Stop-Loss: Rs 1,850

Jatin Gedia, VP - Technical Research at Teji Mandi Investment Technologies

Azad Engineering | CMP: Rs 2,439

Azad Engineering has successfully retested its breakout level and is resuming its uptrend. A positive crossover on the MACD suggests a fresh buy signal.

Strategy: Buy

Target: Rs 2,625

Stop-Loss: Rs 2,370

Pricol | CMP: Rs 628.7

Pricol witnessed buying interest near its 40-day moving average (Rs 600) and formed a strong bullish candlestick with above-average volumes. Subsequently, the stock formed an Inside Bar pattern, indicating accumulation.

A positive crossover on the Stochastic oscillator suggests a buying opportunity with a favourable risk-reward ratio.

Strategy: Buy

Target: Rs 675

Stop-Loss: Rs 612

Indian Bank | CMP: Rs 826.1

Indian Bank has been consolidating for the past two weeks. Selling pressure is being absorbed at the 50 percent Fibonacci retracement level (Rs 822) of the Rs 770-Rs 875 rally. This dip toward the support level should be used as a buying opportunity, as the MACD has generated a positive crossover.

Strategy: Buy

Target: Rs 875

Stop-Loss: Rs 810