Equity benchmarks corrected further on August 13, with the Nifty 50 ending the session 0.16 percent lower. Market breadth tilted slightly in favour of the bears, with about 1,558 shares declining, against 1,489 shares that advanced on the NSE. The consolidation is expected to continue, with the bias likely to remain moderately on the lower side. Below are some short-term trading ideas to consider:

Hitesh Tailor, Technical Research Analyst at Choice Broking

IOL Chemicals & Pharmaceuticals | CMP: Rs 166.02

IOL Chemicals is maintaining a strong bullish structure, with a clear higher high–higher low formation on the daily chart. The recent retracement found support near the 20-day EMA, followed by a sharp rebound, indicating sustained buying interest and continuation of the prevailing uptrend.

The stock is also trading above all key EMAs, reinforcing the positive trend structure. The RSI at 60 has taken support near the midpoint and turned higher, signalling healthy momentum. The setup favours fresh buying around Rs 166, with Rs 157 as the key risk-control level and Rs 180 as the upside objective.

Strategy: Buy

Target: Rs 180

Stop-Loss: Rs 157

Poonawalla Fincorp | CMP: Rs 502.7

Poonawalla Fincorp is showing renewed bullish strength after breaking out of its recent sideways range, with the move supported by healthy volumes, indicating strong participation. The stock has also respected its rising trendline during the preceding consolidation, highlighting accumulation on declines and a firm underlying structure.

Trading above all key EMAs further reinforces the positive trend, while the RSI remains comfortably above the midpoint, supporting sustained momentum. The setup favours fresh accumulation around Rs 504, with Rs 475 serving as the key downside risk level and Rs 550 as the upside objective.

Strategy: Buy

Target: Rs 550

Stop-Loss: Rs 475

Anant Raj | CMP: Rs 627.05

Anant Raj is showing improving bullish strength after finding stable support near its 20-day EMA and bouncing back, indicating sustained buying interest at lower levels. The recent rounding-bottom breakout on the weekly chart marks a positive shift in the broader technical structure and strengthens the medium-term trend outlook.

The stock is now trading above all key EMAs, reflecting a healthy upward trend and improving price structure. The current setup favours fresh accumulation around Rs 628, with Rs 600 as the key downside risk level and Rs 680 as the potential upside objective.

Strategy: Buy

Target: Rs 680

Stop-Loss: Rs 600

Om Mehra, Technical Research Analyst at Samco Securities

360 ONE WAM | CMP: Rs 1,183

360 ONE WAM has been consistently forming higher highs on the daily chart and closed strongly with a 1.89 percent gain on Thursday after forming a doji in the previous session. The stock is trading above all key moving averages, reflecting broad-based strength across timeframes and keeping the uptrend intact.

The RSI is placed near 60 and has consistently held in the upper half of the range this month, indicating sustained momentum without entering an overheated zone. The delivery percentage is also picking up. Hence, one can consider long positions at the CMP of Rs 1,183.

Strategy: Buy

Target: Rs 1,280

Stop-Loss: Rs 1,120

ICICI Prudential AMC | CMP: Rs 3,147

ICICI Prudential Asset Management Company has bounced sharply from the confluence of the 61.8 percent Fibonacci retracement level, placed at Rs 3,000, and the rising trendline support, with both converging near the Rs 3,020–3,030 zone. The stock formed a strong green candle, gaining 2.35 percent on Thursday, and recovered decisively from that support area before closing near the day's high.

Volumes remain slightly above the recent average, supporting the recovery. The positive divergence and RSI have turned higher from the 42 level, with the RSI now placed near 52, indicating improving momentum. Hence, one can consider long positions at the CMP of Rs 3,147.

Strategy: Buy

Target: Rs 3,380

Stop-Loss: Rs 3,000

Oberoi Realty | CMP: Rs 1,846

Oberoi Realty has broken above the Rs 1,820–1,825 resistance zone, which had capped the stock on multiple occasions, and formed a strong bullish candle, gaining 2.56 percent on Thursday. Volumes surged to nearly three times the recent average, with delivery volumes also picking up meaningfully, indicating strong participation in the breakout.

The previous resistance zone has now turned into support. The RSI has moved up to 55, while the MACD histogram indicates an improvement in momentum. The Nifty Realty Index also remains supportive. Hence, one can consider long positions at the CMP of Rs 1,846.

Strategy: Buy

Target: Rs 1,960

Stop-Loss: Rs 1,780

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

Eicher Motors | CMP: Rs 8,100

Eicher Motors continues to maintain a constructive bullish structure, with the stock forming a sequence of higher highs and higher lows on the daily chart. The recent consolidation near the Rs 7,900–8,000 zone appears to be a period of absorption rather than a reversal, with the stock sustaining above its key support at Rs 7,937.

The stock is close to its immediate resistance zone of Rs 8,100–8,150. A decisive breakout above this level, preferably accompanied by stronger volumes, could trigger the next leg of the upmove towards Rs 8,300–8,400, with the broader chart structure indicating potential towards the upper trendline near Rs 8,400 .

Momentum remains supportive, with the RSI at around 62.8, indicating healthy positive momentum without entering an overbought zone. Volume activity has also remained supportive during key upward moves, reinforcing the underlying accumulation bias. Buy Eicher Motors in the Rs 8,050–8,100 range.

Strategy: Buy

Target: Rs 8,180, Rs 8,280, Rs 8,400

Stop-Loss: Rs 7,880

Clean Science and Technology | CMP: Rs 836.35

Clean Science & Technology has shown a meaningful recovery from its recent lows, with the stock currently trading around Rs 836. The chart indicates a gradual improvement in the price structure after a prolonged downtrend, with recent buying interest supported by higher volumes.

The stock has reclaimed the Rs 800–810 zone and is now approaching an important resistance area near Rs 850–870. A sustained breakout above Rs 870 could strengthen the recovery and open the possibility of of an upmove towards Rs 900–920, followed by Rs 950 in the medium term.

Momentum indicators have also improved, with the RSI rising to around 55, indicating a shift towards positive momentum while remaining away from the overbought zone. The recent rise in volumes further supports the ongoing recovery.

On the downside, Rs 800–790 would act as the immediate support zone, followed by stronger support near Rs 750–730. As long as the stock sustains above Rs 790–800, the near-term technical setup remains constructive. Buy Clean Science in the Rs 820–840 range.

Strategy: Buy

Target: Rs 880, Rs 920, Rs 980

Stop-Loss: Rs 740