The benchmark indices shed around a percent of gains on April 9 amid uncertainty over the Iran ceasefire, after an 8 percent rally in the previous four sessions. Market breadth turned slightly negative, with about 1,596 declining shares against 1,376 advancing shares on the NSE. Range-bound trading may continue until the market convincingly surpasses Wednesday's high. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

HFCL | CMP: Rs 79.61

HFCL has broken out above a Volatility Contraction Pattern (VCP) consolidation and resistance trendline on the daily chart. The breakout was supported by strong volume expansion, confirming solid buyer participation. The price is now trading comfortably above all key EMAs, with upward-sloping averages.

The RSI is in bullish territory above 67, while the DMI shows DI above -DI, with a rising ADX, indicating a strong trending move. The stock is displaying better relative strength compared to both the Nifty 50 and the Nifty 500. The structure remains bullish, with continuation potential. Any dips toward Rs 76 should be viewed as buying opportunities.

Strategy: Buy

Target: Rs 88, Rs 96

Stop-Loss: Rs 72

Delhivery | CMP: Rs 469.85

Delhivery has broken out above a multi-week sloping channel consolidation, supported by a strong bullish candle and healthy volume buildup. The price is now trading above all key EMAs, with upward slopes. The RSI remains in bullish territory above 67, and the DMI/ADX confirm strengthening trend momentum.

The stock exhibits superior relative strength versus the Nifty 50 and the Nifty 500. The overall structure favours continuation of the upmove. Any dips toward Rs 448 should be viewed as buying opportunities.

Strategy: Buy

Target: Rs 480, Rs 510

Stop-Loss: Rs 428

KSB | CMP: Rs 860.4

KSB has broken out above a long-term triangular consolidation. The breakout was backed by rising trading and delivery volumes, indicating increased participation. The price trades comfortably above all key EMAs, with upward slopes.

The RSI remains in bullish territory above 65, while the DMI shows DI above -DI, with a rising ADX, supporting a trending move. The stock is showing better relative strength compared to the Nifty 50 and the Nifty 500. The structure remains bullish, with upside potential. Any dips toward Rs 820 should be viewed as buying opportunities.

Strategy: Buy

Target: Rs 910, Rs 940

Stop-Loss: Rs 780

Om Mehra, Technical Research Analyst at Samco Securities

Voltas | CMP: Rs 1,283.90

Voltas has witnessed a sharp recovery after a steep decline, finding support near recent swing lows. The rebound has been swift, with prices moving back toward the Rs 1,280 zone, indicating a pullback after an extended down move.

The stock is currently trading near the middle Donchian band, indicating room for further upside. It is trading above the 9 EMA and moving closer to the 20 EMA. Volumes are showing gradual improvement alongside the price rise.

The RSI is placed near 42 and is turning higher, indicating a gradual improvement in momentum. The MACD is on the verge of a bullish crossover.

Strategy: Buy

Target: Rs 1,360

Stop-Loss: Rs 1,200

Alkem Laboratories | CMP: Rs 5,370.5

Alkem Laboratories is showing a gradual recovery after the recent decline, with prices moving back toward the Rs 5,350–5,400 zone. The stock has been forming small-bodied candles while inching higher. It is currently trading around the 20-day moving average, while the 50-day moving average, placed higher, continues to act as an overhead hurdle.

The RSI is placed near 50 and moving slightly higher, indicating neutral-to-bullish momentum. The MACD is flattening, suggesting that the downward pressure is easing.

Strategy: Buy

Target: Rs 5,650

Stop-Loss: Rs 5,230

Navin Flourine International | CMP: Rs 6,135

Navin Fluorine has been moving in a sideways range over the past few weeks, with prices oscillating between the Rs 5,800 and Rs 6,300 zone. The recent dip toward the lower band of the range has seen a mild recovery, with the stock attempting to stabilise near Rs 6,100–6,150.

The stock is currently trading around the middle of the Bollinger Band, indicating a neutral setup in the near term. Volumes have remained largely stable. The RSI is placed near 50 and moving slightly higher, indicating neutral momentum. The stock is oscillating within a declining parallel channel and is holding above the midline.

Strategy: Buy

Target: Rs 6,450

Stop-Loss: Rs 5,850

Hitesh Tailor, Technical Research Analyst at Choice Broking

National Aluminium Company | CMP: Rs 412.35

National Aluminium Company is showing strength after a confirmed symmetrical triangle breakout on the daily chart. The stock is sustaining above the breakout zone, indicating strong price acceptance and potential continuation of the uptrend. It is trading above key rising EMAs, reflecting a well-established bullish structure.

Both daily and weekly setups remain constructive, with the RSI holding above 50 and trending higher on the weekly timeframe, signaling sustained momentum. Based on this setup, traders may consider buying NALCO at CMP, with a stop-loss at Rs 390 and a target of Rs 445–450.

Strategy: Buy

Target: Rs 450

Stop-Loss: Rs 390

MCX India | CMP: Rs 2,657.5

Multi Commodity Exchange of India is exhibiting a strong technical structure, trading above key moving averages that are trending upward, indicating a well-established bullish trend. The stock is also respecting a rising trendline support, reflecting sustained buying interest on dips and a healthy price structure.

Price action indicates the formation of an ascending triangle pattern, with horizontal resistance near recent highs and higher lows forming beneath it—signaling accumulation and potential breakout strength. Based on this setup, traders may consider buying at CMP, with a stop-loss at Rs 2,525 and a target of Rs 2,900.

Strategy: Buy

Target: Rs 2,900

Stop-Loss: Rs 2,525

Hindalco Industries | CMP: Rs 985.65

Hindalco Industries is exhibiting strong price action after a decisive range breakout on the daily chart, supported by a strong bullish candlestick formation. The stock has witnessed a sharp upside rally after finding firm support above the 200-day EMA, indicating a continuation of the prevailing uptrend.

Momentum indicators further reinforce the bullish bias, with the RSI showing a strong reversal from oversold territory and trending higher. The broader trend remains intact, suggesting continuation of the upmove. Based on this technical setup, traders may consider buying at CMP, with a stop-loss at Rs 935 and a target of Rs 1,080.

Strategy: Buy

Target: Rs 1,080

Stop-Loss: Rs 935