Equity benchmark indices extended their gains for another session on July 30, ending around 0.3 percent higher despite negative market breadth. As many as 1,864 shares declined on the NSE, compared to 1,116 shares that advanced. Despite the weak market breadth, the overall trend is expected to remain favourable for the bulls, increasing the possibility of the benchmark indices moving towards their previous swing highs. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

Action Construction Equipment | CMP: Rs 1,057.2

ACE has given a breakout above a complex inverse head-and-shoulders bullish reversal pattern on the daily chart. It has also broken above a long-term resistance trendline that had been in place since December 2024. The price faced multiple rejections at this trendline before delivering a strong breakout, supported by robust volumes.

Following the breakout, the stock consolidated sideways within a rectangular range (highlighted in orange) before breaking out of this range in recent sessions. The price is currently trading above all key moving averages, with strong volume support reinforcing the bullish bias. Momentum and trend indicators remain in bullish territory, pointing towards further upside.

Strategy: Buy

Targets: Rs 1,120, Rs 1,200

Stop-Loss: Rs 999

JK Cement | CMP: Rs 5,567

JK Cement has broken out above an inverse head-and-shoulders bullish pattern, as well as a resistance trendline that had been in place since August 2025. The breakout occurred with strong volumes, indicating solid accumulation. Post-breakout, the stock has been consolidating within a tight range and forming a bullish flag-and-pole continuation pattern. The price is trading above all key moving averages, while momentum and trend indicators continue to support a bullish outlook.

Strategy: Buy

Target: Rs 5,970, Rs 6,224

Stop-Loss: Rs 5,515

Alkem Laboratories | CMP: Rs 5,816.5

Alkem has broken out above a long consolidation range that had been in place since February 16, 2026. For several months, the stock traded within a broader range, with support near Rs 5,166 and resistance around Rs 5,780, while also forming a triangular consolidation pattern. Despite an earlier breakout attempt, the price remained capped by the Rs 5,780 resistance.

In the latest session, the stock delivered a strong breakout above this resistance zone, accompanied by robust volumes and renewed buying interest. Momentum and trend indicators continue to support a bullish bias. The price is trading above all key moving averages, all of which are sloping upward.

Strategy: Buy

Target: Rs 6,140, Rs 6,390

Stop-Loss: Rs 5,580

Om Mehra , Technical Research Analyst at Samco Securities

Blue Jet Healthcare | CMP: Rs 612.45

Blue Jet Healthcare has formed a bullish flag pattern near its highs on the daily chart following a sharp prior rally. The stock formed a bullish candlestick and is sustaining above Rs 605, its immediate short-term resistance. It is trading comfortably above its 20-day SMA, placed near Rs 588, while volumes remain slightly above the recent average.

The RSI is placed near 65 and has consistently remained in the upper half of its range throughout the recent rally, reflecting sustained momentum. The pharmaceutical sector, to which the stock belongs, has also remained supportive, adding further strength to the setup.

Strategy: Buy

Target: Rs 660

Stop-Loss: Rs 585

CreditAccess Grameen | CMP: Rs 1,614

CreditAccess Grameen has broken out of an ascending triangle pattern on the daily chart, crossing above the Rs 1,600 resistance zone that had capped its advances over the past several sessions. The latest candlestick reflects a strong recovery from the intraday low of Rs 1,570 to close at Rs 1,614, indicating aggressive buying at lower levels. The stock is trading well above its 20-day SMA, which continues to trend upward.

The RSI is placed near 66 and continues to trend higher, reflecting sustained momentum. The MACD remains in positive territory, with the histogram expanding, providing further confirmation of the bullish move.

Strategy: Buy

Target: Rs 1,720

Stop-Loss: Rs 1,555

State Bank of India | CMP: Rs 1,025.3

State Bank of India has formed a bullish engulfing candlestick on the daily chart after bouncing from the Rs 1,008 support zone, which has held the stock on multiple occasions over the past several sessions. The hourly chart continues to display a higher high formation, indicating that the near-term uptrend remains intact.

The Supertrend support, placed near Rs 997, continues to provide a cushion on the downside and keeps the broader trend intact. The RSI is placed near 50 and is recovering from lower levels, while the MACD has turned positive with a fresh bullish crossover, indicating an early improvement in momentum.

Strategy: Buy

Target: Rs 1,085

Stop-Loss: Rs 992

Hitesh Tailor, Technical Research Analyst at Choice Broking

Minda Corporation | CMP: Rs 706.9

Minda Corporation has completed a classic Bull Flag continuation pattern following a high-volume breakout. After hitting an initial high of Rs 713.65, the stock underwent a brief and controlled consolidation towards the Rs 650 region before resuming its upward move to close at Rs 706.90.

Price action remains firmly above all major moving averages, establishing a strong demand zone around the key exponential moving averages. The RSI, at 61.63, has turned decisively higher after cooling off from overbought territory, signalling renewed buying momentum with ample room for further upside, supported by the clear continuation pattern.

Strategy: Buy

Target: Rs 770

Stop-Loss: Rs 670

Hero MotoCorp | CMP: Rs 5,325

Hero MotoCorp is exhibiting strong bullish momentum after delivering a decisive breakout above a broad falling trendline, along with a breakout above its 200-day DEMA, signalling a meaningful improvement in the overall technical structure.

The stock is now trading above all key EMAs, reflecting strong trend alignment and sustained buying interest. The breakout is supported by strengthening price action, while the RSI has climbed to 67.81 and continues to trend higher, indicating robust momentum and the potential for further upside.

With the trend turning favourable, the stock appears well placed for a move towards Rs 5,750. Traders may consider accumulating the stock around Rs 5,325 while maintaining a protective stop-loss below Rs 5,100.

Strategy: Buy

Target: Rs 5,750

Stop-Loss: Rs 5,100