The benchmark indices wiped out all their opening rally and finished slightly lower on May 21. However, market breadth remained positive, with around 1,711 shares advancing against 1,237 declining shares on the NSE. The market needs a decisive move above the upper end of the 23,300–23,800 range for a fresh leg of rally. Until then, consolidation may continue. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

Niva Bupa Health Insurance Company | CMP: Rs 83.62

Niva Bupa has delivered a strong breakout above a long-term triangular consolidation pattern and a major resistance trendline. Following the breakout, the stock underwent a healthy throwback and successfully retested the breakout zone, holding it firmly.

The price is now trading comfortably above all key EMAs with upward slopes, indicating strengthening momentum. Momentum and trend indicators are firmly in bullish territory, supporting continuation of the upmove. The stock is also showing relative strength compared to the Nifty.

Strategy: Buy

Target: Rs 88.3, Rs 94

Stop-Loss: Rs 79

Authum Investment & Infrastructure | CMP: Rs 527.2

Authum Investment has given a strong breakout above a complex bullish head-and-shoulders pattern. Prior to the decisive breakout, the stock formed multiple bullish hammer candles near the base, indicating strong buying interest.

Volumes have started building positively over the past two sessions, confirming accumulation. The price is now trading above all key EMAs, while both momentum and trend indicators suggest bullish continuation with strength. The stock is also showing relative strength compared to the Nifty.

Strategy: Buy

Target: Rs 578, Rs 635

Stop-Loss: Rs 481.5

ACME Solar Holdings | CMP: Rs 282.65

ACME Solar Holdings has corrected nearly 15 percent from its recent high but found strong support around the 50-day EMA, where it formed a bullish hammer candlestick pattern. On shorter timeframes, positive volume buildup is visible, which is an encouraging sign.

The stock is currently holding above the 50-day EMA and trading within a long-term ascending channel, taking support near the midpoint of the channel — a positive development for the overall structure. Momentum and trend indicators on the short-term timeframe are also showing signs of positive traction.

Strategy: Buy

Target: Rs 310, Rs 333

Stop-Loss: Rs 254

Hitesh Tailor, Technical Research Analyst at Choice Broking

Gland Pharma | CMP: Rs 2,331

Gland Pharma is showing strong bullish momentum after delivering a horizontal breakout and sustaining above the breakout zone, indicating continuation of upward strength. The stock has also closed strongly above the previous day’s high, reflecting renewed buying interest and potential continuation of the uptrend.

An EMA bullish crossover further supports short-term strength, while the RSI continues to trend higher, signalling improving momentum. Based on the current setup, short-term traders may consider buying at the CMP of Rs 2,331, with a strict stop-loss at Rs 2,200 and a potential upside target of Rs 2,580.

Strategy: Buy

Target: Rs 2,580

Stop-Loss: Rs 2,200

Thermax | CMP: Rs 4,575

Thermax is showing early signs of bullish strength after witnessing strong accumulation near lower levels and rebounding sharply from support zones. The stock is now trading in a higher high–higher low formation, aligned with rising EMA support, signalling improving momentum and a strengthening trend structure.

Additionally, the stock has recently taken support near its previous breakout zone and is moving higher again, indicating sustained buying interest. Based on the current setup, traders may consider buying the stock at the CMP of Rs 4,575.

Strategy: Buy

Target: Rs 5,100

Stop-Loss: Rs 4,325

Samvardhana Motherson International | CMP: Rs 137

Samvardhana Motherson International is showing strong bullish momentum after delivering a decisive breakout above its trendline resistance and sustaining a close above the breakout zone. The stock continues to exhibit strength by taking support near rising short-term EMAs and moving higher, indicating sustained buying interest at lower levels.

The RSI is also holding firmly above the midpoint and moving higher, reflecting strengthening momentum and positive trend continuation. Considering the current technical structure, traders may consider initiating long positions at the CMP of Rs 137 for a potential upside target of Rs 151.

Strategy: Buy

Target: Rs 151

Stop-Loss: Rs 129

Om Mehra, Technical Research Analyst at Samco Securities

Aurobindo Pharma | CMP: Rs 1,546.7

Aurobindo Pharma has been sustaining a well-defined uptrend, forming a consistent sequence of higher highs and higher lows on the daily chart. The stock is riding on a rising trendline that has provided support at every meaningful dip, and in the recent session, it pushed toward fresh highs near Rs 1,550. It continues to trade comfortably above the 20-day SMA, which has been steadily trending upward. Volumes also remain steady.

The RSI is placed near 76 and is holding above its signal line. The MACD remains bullish on both the daily and weekly timeframes. The pharma sector also remains robust, adding further strength to the overall setup. Hence, one may consider long positions at the CMP of Rs 1,546.70, with an expected move toward Rs 1,630.

Strategy: Buy

Target: Rs 1,630

Stop-Loss: Rs 1,490

Endurance Technologies | CMP: Rs 2,623

Endurance Technologies has staged a sharp recovery after forming a bottom near the Rs 2,500 zone and is now holding above the Rs 2,600 level. The recent advance has been supported by a visible pickup in volumes during the upmove. The stock is now trading comfortably above the 20-day SMA, reflecting an improving near-term trend.

The RSI is placed near 63, indicating steadily improving momentum from lower levels. The MACD has turned positive, supporting the ongoing recovery. Hence, one may consider long positions at the CMP of Rs 2,623, with an expected move toward Rs 2,800.

Strategy: Buy

Target: Rs 2,800

Stop-Loss: Rs 2,530

Bajaj Auto | CMP: Rs 10,667

Bajaj Auto has staged a sharp recovery and is now sustaining well above key support levels. The stock has formed a bullish flag pattern on the daily chart, and the recent session saw it moving higher from that consolidation, indicating continuation of the prior upmove. It is trading comfortably above the 20-day SMA, with volumes rising alongside the price.

The daily and weekly RSI are both holding above 60, reflecting broad-based strength across timeframes. The MACD continues to remain in positive territory. The auto sector also remains supportive, providing additional tailwinds. Hence, one may consider long positions at the CMP of Rs 10,667, with an expected move toward Rs 11,250.

Strategy: Buy

Target: Rs 11,250

Stop-Loss: Rs 10,250