Equity benchmarks gained eight-tenths of a percent after snapping a three-day losing streak on April 27. Market breadth turned strongly in favour of bulls, with about 2,359 shares witnessing buying interest compared to 637 declining shares on the NSE. The market may remain range-bound with a positive bias as long as it holds above short-term moving averages. Below are some short-term trading ideas to consider:

Jigar S Patel, Senior Manager - Equity Research at Anand Rathi

Hindustan Zinc | CMP: Rs 628

Hindustan Zinc witnessed a breakout above Rs 610 in the previous trading session after a phase of consolidation just above its 50-DEMA, indicating strength in trend continuation. The breakout suggests renewed buying interest after a healthy pause. The RSI is trading above the 60 mark, reflecting positive momentum, while the DMI indicator remains supportive with a bullish bias.

Overall, the technical setup appears constructive, and sustained trading above the breakout zone could lead to further upside in the near term. Traders may watch for follow-through buying to confirm the next move. Traders may consider entering long positions in the Rs 630–615 zone.

Strategy: Buy

Target: Rs 700

Stop-Loss: Rs 570

PVR Inox | CMP: Rs 1,018.9

PVR Inox is showing signs of a strong base formation, having created multiple bottoms in the Rs 950–900 zone over the past year, as seen on the chart. This repeated support indicates consistent buying interest emerging at lower levels. Importantly, the current base is developing near the 78.6 percent Fibonacci retracement of the entire rally from the COVID low, a zone often considered significant for potential reversals in technical analysis.

The overall price structure suggests that the downside may be limited, while sustained strength from this support area could trigger a gradual recovery in the coming sessions. Traders may consider entering long positions in the Rs 1,020–1,000 zone.

Strategy: Buy

Target: Rs 1,180

Stop-Loss: Rs 920

Jio Financial Services | CMP: Rs 253.65

Jio Financial Services has recently formed a strong base near the 78.6 percent retracement zone, indicating buying interest at lower levels. An inverse head-and-shoulders pattern is also visible on the chart, supported by a neckline breakout, which signals a potential bullish reversal.

In addition, the RSI is trading above the 50 mark, suggesting improving momentum and scope for further upside. Overall, the technical structure remains positive, and sustained strength above the breakout zone may lead to the next leg of the rally in the near term. Traders may consider entering long positions in the Rs 255–250 zone.

Strategy: Buy

Target: Rs 280

Stop-Loss: Rs 235

Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities

Torrent Pharmaceuticals |CMP: Rs 4,219.8

Over the past couple of months, Torrent Pharmaceuticals has outperformed the Nifty 50, and it has also witnessed long additions, indicating that the overall trend is positive for the stock. The Nifty Pharma Index has also witnessed a trend reversal, with a majority of stocks trading in an upward trend, indicating that the sector outlook is positive in the near term. This is likely to support the stock’s continued uptrend as well.

For the April series, the stock has resistance at Rs 4,300, as it has the highest Call base. However, for the May series, the highest Call base is at the Rs 4,200 strike, and the stock has managed to close well above it. Further continuation above this level could lead to a strong uptrend. The maximum pain is also at the Rs 4,200 strike for the May series, making this level critical going ahead. Buy Torrent Pharma May futures in the Rs 4,200–4,250 range.

Strategy: Buy

Target: Rs 4,450, Rs 4,600

Stop-Loss: Rs 4,100

Marico | CMP: Rs 787

Marico outperformed the Nifty 50 during the previous decline, while the broader Nifty FMCG Index also outperformed the benchmark. The stock had witnessed long additions prior to the fall, and during the correction, it saw some long unwinding rather than fresh short additions.

After a phase of consolidation and a fresh breakout on the upside, the stock has again witnessed long additions, indicating a renewed upward move. Therefore, the probability of further upside is higher from here. Based on options data, the Rs 800 strike has the highest Call base, and a breakout above this level could lead to a strong uptrend. The maximum pain for the May series is at the Rs 780 strike, and the stock has already closed above it, increasing the probability of a breakout above Rs 800. Buy Marico May futures in the Rs 785–795 range.

Strategy: Buy

Target: Rs 830, Rs 850

Stop-Loss: Rs 765

Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan

REC | CMP: Rs 378

REC has broken out of a falling wedge pattern that had been forming since February 2025. A falling wedge is typically formed after a prolonged downtrend, and a breakout from this pattern usually signals a trend reversal. In this case, the medium-term correction appears complete, and the breakout signals a reversal. The stock is likely to move higher towards the Rs 400–410 levels in the short term.

Strategy: Buy

Target: Rs 400, Rs 410

Stop-Loss: Rs 362

Biocon | CMP: Rs 362

Biocon is trading in a downward-sloping channel. It has recently bounced back from the lower end of the channel and its medium-term support level of around Rs 340. In the coming sessions, the stock is expected to inch higher towards the upper end of the channel. For this week, it is likely to move towards Rs 376–386. The daily momentum indicator is bullish, confirming the positive view.

Strategy: Buy

Target: Rs 376, Rs 386

Stop-Loss: Rs 348

SRF | CMP: Rs 2,508.2

SRF has been an underperformer and continues to trade below the 40-day EMA, indicating short-term weakness. On the daily chart, the stock recently found resistance at the 40-day EMA and the upper Bollinger Band, and corrected from there.

On the lower timeframe, a rising wedge pattern has formed. A break below Rs 2,480 will confirm a breakdown from this pattern, which has bearish implications for price action. Therefore, the strategy would be to sell May futures if it breaks below Rs 2,480, with targets of Rs 2,366 and Rs 2,325.

Strategy: Sell

Target: Rs 2,366, Rs 2,325

Stop-Loss: Rs 2,570

Vidnyan S Sawant, Head of Research at GEPL Capital

Torrent Power | CMP: Rs 1,772.5

Torrent Power continues to remain in a strong uptrend since February 2023, consistently trading above its key 12-, 26-, and 50-week EMAs, reflecting sustained trend strength. The stock has recently broken out of a one-year-long triangular pattern, supported by strong volumes, indicating a continuation of the prevailing uptrend. Additionally, the MACD indicator signals sustained bullish momentum, with the histogram trending higher, reinforcing the positive bias.

Strategy: Buy

Target: Rs 1,892

Stop-Loss: Rs 1,697

Aditya Infotech | CMP: Rs 2,345.2

CP Plus has been in a sustained uptrend since its listing. Following a breakout from a cup-and-handle pattern, the stock continues to exhibit robust momentum. It is well positioned above its key 20- and 50-day EMAs, indicating strong relative strength. Additionally, the MACD indicator is trending higher, reinforcing sustained bullish momentum.

Strategy: Buy

Target: Rs 2,537

Stop-Loss: Rs 2,255

Strides Pharma Science | CMP: Rs 1,098.55

Strides Pharma Science has been exhibiting a robust price structure since April 2023, maintaining a sustained upward trend. In the previous week, the stock witnessed a breakout from a 42-week consolidation zone and continues to trade above its key 12- and 20-week EMAs, indicating strong trend strength. The MACD momentum indicator remains in positive territory with a rising histogram, signalling an acceleration in bullish momentum.

Strategy: Buy

Target: Rs 1,220

Stop-Loss: Rs 1,054

Sai Life Sciences | CMP: Rs 1,067.3

Sai Life Sciences has been exhibiting a strong rising structure since its listing, consistently forming higher highs and higher lows while trading above its key 12- and 26-week EMAs, indicating sustained trend strength. In the previous week, the stock witnessed a breakout from a pennant (triangular) pattern, signalling a resumption of the primary uptrend.

Strategy: Buy

Target: Rs 1,138

Stop-Loss: Rs 1,020