28 May , 2025 By : Debdeep Gupta
The benchmark indices reversed the previous day's gains, with the Nifty 50 losing 175 points on May 27. The market breadth was slightly in favour of the bears, as 1,369 shares declined compared to 1,205 shares that saw buying interest on the NSE. Rangebound trading is expected to continue, with key support near the low of last Thursday. Below are some short-term trading ideas to consider:
Amol Athawale, VP-Technical Research at Kotak Securities
Infosys | CMP: Rs 1,570.1
After a sharp uptrend, Infosys witnessed some selling pressure but its downward momentum has paused, finding support. On the daily charts, the stock has formed a Cup and Handle pattern, and a fresh breakout from the resistance zone is likely in the coming sessions. As long as the stock trades above Rs 1,535, the bullish outlook is expected to continue. A move above this level could target Rs 1,650.
Strategy: Buy
Target: Rs 1,650
Stop-Loss: Rs 1,535
Cholamandalam Investment and Finance Company | CMP: Rs 1,665.2
Cholamandalam Investment is forming a rising channel chart pattern on both the daily and weekly scales, with a series of higher highs and higher lows. The stock has witnessed a steady recovery from the lower levels, and the RSI (Relative Strength Index) also indicates a further uptrend from current levels, which could fuel the bullish momentum. For positional traders, Rs 1,605 would be the decisive level. Trading above Rs 1,605 could continue the uptrend, targeting Rs 1,780. However, if the stock closes below Rs 1,605, traders may prefer to exit long positions.
Strategy: Buy
Target: Rs 1,780
Stop-Loss: Rs 1,605
Marico | CMP: Rs 715.65
After a decline from higher levels, Marico has rebounded from its support zone. A sloping trendline breakout has been observed on the daily charts, signaling a steady recovery and a continuation of the bullish trend. For the next few sessions, Rs 690 could act as the trend-decider level for the bulls. If the stock sustains above Rs 690, an uptrend towards Rs 770 can be expected.
Strategy: Buy
Target: Rs 770
Stop-Loss: Rs 690
Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors
Inox Wind | CMP: Rs 192.57
After a sharp rally, Inox Wind took a brief pause and consolidated between Rs 180 and Rs 190. Prices recently broke out of this range, which is a strong bullish signal. Additionally, the Ichimoku Cloud indicator's convergence line (blue line) has acted as support in the recent rise, from which prices bounced higher. Traders can continue riding the trend, using Rs 184 as a trailing stop-loss. RSI is currently at 67, providing further room for the stock to trend upwards. A break above Rs 195 could lead to a move towards Rs 205, followed by Rs 215. On the downside, Rs 184 remains the nearest support.
Strategy: Buy
Target: Rs 205, Rs 215
Stop-Loss: Rs 184
Granules India | CMP: Rs 528.8
Granules India has been trading within a well-defined downward-sloping channel since August 2024, and it is now on the verge of breaking out. A decisive breakout above Rs 535 can further boost positive momentum in the stock. Recently, the 15-period EMA and 30-period EMA gave a bullish crossover, indicating a bullish bias. Since the crossover on May 14, the stock has risen by more than 12%, keeping the daily trend positive. A break above Rs 535 could lead to a move towards Rs 555, followed by Rs 580. On the downside, Rs 513 is a crucial support level.
Strategy: Buy
Target: Rs 555, Rs 580
Stop-Loss: Rs 513
Supreme Industries | CMP: Rs 4,200.4
Supreme Industries gained more than 4 percent in the previous session. On the daily chart, the stock has broken out of a long-term falling channel, signaling a shift in trend. It has also broken the neckline of a classic rounding bottom pattern at Rs 4,075, which is a strong bullish sign. Over the past 13 trading sessions, the stock has protected previous lows on a closing basis, and volumes have started to increase, indicating sustained buying interest.
The stock has retraced more than 50 percent of its prior fall from December 2024. We expect it to retrace up to the 61.8 percent level, around Rs 4,370. The current trend is bullish. Traders can use any dips as buying opportunities for a move towards Rs 4,370, followed by Rs 4,500, as long as Rs 4,010 holds on the downside.
Strategy: Buy
Target: Rs 4,370, Rs 4,500
Stop-Loss: Rs 4,010
Vinay Rajani, Senior Technical & Derivative Analyst at HDFC Securities
Crompton Greaves Consumer Electricals | CMP: Rs 357
On the week ending May 16, Crompton Greaves Consumer Electricals broke out from a downward-sloping trendline on the weekly chart. The price rise was accompanied by a jump in volumes, and the stock has been sustaining above the 50-day exponential moving average (DEMA) resistance. The weekly RSI has risen above 50, indicating a sustainable uptrend, while the MACD (Moving Average Convergence Divergence) is also above the signal line, further confirming the bullish momentum.
Strategy: Buy
Target: Rs 380, Rs 391
Stop-Loss: Rs 333
MOIL | CMP: Rs 375.85
MOIL has broken out from a multi-week consolidation pattern with higher volumes. The stock is now positioned above all key moving averages, indicating a bullish trend across all time frames. The weekly RSI is above 50, which supports the view of a sustainable uptrend. The weekly MACD is also above the signal line, further reinforcing the bullish outlook.
Strategy: Buy
Target: Rs 403
Stop-Loss: Rs 352
City Union Bank | CMP: Rs 193.4
City Union Bank has broken out of a symmetrical triangle pattern on the weekly chart. The stock has been sustaining above the 200-day exponential moving average (DEMA) resistance, and it is now trading above the 20, 50, and 200-day EMAs. The monthly RSI is above 50, indicating a sustainable uptrend, and the weekly MACD is placed above both the signal and equilibrium lines, confirming the bullish trend.
Strategy: Buy
Target: Rs 218
Stop-Loss: Rs 186.50
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