The benchmark indices remained under pressure for another session, falling nearly 1 percent on March 12 following a rise in oil prices amid Strait of Hormuz tensions. The market breadth was favourable for bears as about 1,920 shares declined against 1,034 rising shares on the NSE. The market is expected to continue to face risk-off sentiment amid geopolitical tensions. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

Ajanta Pharma | CMP: Rs 3,119.5

Ajanta Pharma has decisively broken out above the long-standing resistance zone of Rs 3,020–3,080, which has been in place since October 2024. Over the last four sessions, volume has consistently exceeded average levels, reflecting strong participation and genuine buying interest.

The price now trades comfortably above all key EMAs, with upward-sloping averages. Momentum indicators remain in bullish territory, and trend indicators suggest the bullish move is likely to continue. The structure favours buyers while the breakout zone holds.

Strategy: Buy

Target: Rs 3,381, Rs 3,450

Stop-Loss: Rs 2,945

HFCL | CMP: Rs 74.47

HFCL has formed a clear double-bottom bullish reversal pattern (highlighted in yellow). Post-breakout, the price re-entered the pattern and formed a bullish tweezer bottom at the key support of Rs 64.5. Volume has increased over the past four consecutive sessions and the stock trades above moving averages.

The price sits above the 20- and 50-day EMAs and is attempting to reclaim the 200-day EMA. Momentum indicators are in bullish territory, and trend indicators point to continued upside potential.

Strategy: Buy

Target: Rs 79, Rs 83.3

Stop-Loss: Rs 69.5

Timken India | CMP: Rs 3,486.5

Timken India broke out above a key resistance trendline on February 25. Since then, the price has hovered around the trendline and the 20-day EMA as support. Recent sessions show strong positive traction, with volume rising above average levels.

The price trades above all key EMAs with upward slopes. Momentum indicators remain in bullish territory, and trend indicators indicate the bullish trend is likely to persist.

Strategy: Buy

Target: Rs 3,685, Rs 3,800

Stop-Loss: Rs 3,200

Aakash Shah, Research Analyst at Choice Broking

Linde India | CMP: Rs 7,189.5

Linde India is displaying a strong bullish continuation setup on the daily chart after spending the past few weeks in a consolidation phase. The stock has recently delivered a decisive breakout above the 200-day EMA, signalling a potential shift toward a sustained uptrend.

Price action has now formed an ascending triangle pattern, with a breakout above the consolidation resistance zone supported by expanding volumes, indicating fresh buying interest. The stock is comfortably trading above its 20-, 50-, 100-, and 200-day EMAs, reflecting strong bullish momentum. As long as the price holds above the Rs 6,680 zone, which aligns near the 20-day EMA, the structure remains positive. A continuation toward the Rs 7,800 zone appears likely in the near term.

Strategy: Buy

Target: Rs 7,800

Stop-Loss: Rs 6,680

Jammu & Kashmir Bank | CMP: Rs 127.51

Jammu & Kashmir Bank has delivered a strong breakout from a prolonged six-month consolidation range visible on the daily chart. The stock confirmed the breakout after sustaining above the key resistance zone around Rs 110, which had repeatedly capped price advances in the past. Following this confirmation, price action has witnessed strong bullish momentum, gaining nearly 19 percent within four trading sessions while maintaining a clear higher-high and higher-low structure.

The stock is currently trading near its 52-week high, supported by rising volumes and strong price acceptance above all major moving averages. The previous resistance zone near Rs 110 has now turned into a strong support area, reinforcing the bullish structure.

Strategy: Buy

Target: Rs 137

Stop-Loss: Rs 120.5

Bharat Electronics | CMP: Rs 453.55

BEL continues to exhibit a strong bullish trend on the daily timeframe. The stock has recently reclaimed its previous highs and is currently consolidating near its all-time high zone while taking support around the 20-day EMA.

Historically, the stock has consistently respected the 20-day EMA as a dynamic support during its uptrend phases, and the current pullback toward this level indicates healthy consolidation within a bullish structure. The price remains well above the 50-day and 100-day EMAs, reinforcing the positive trend outlook.

With momentum indicators holding firm and the structure intact, a continuation toward higher levels appears likely if the stock sustains above Rs 435, which aligns near the 50-day EMA immediate support.

Strategy: Buy

Target: Rs 485

Stop-Loss: Rs 435

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

Supreme Industries | CMP: Rs 4,043.7

Supreme Industries is displaying a strong bullish reversal setup on the daily chart, marked by a well-defined cup-and-handle formation after a prolonged corrective phase. The stock has completed the rounding bottom structure and is now attempting a breakout above the neckline resistance near the Rs 4,000–Rs 4,050 zone, indicating a potential shift from consolidation to trend continuation.

Price action has reclaimed its 200-DEMA, signalling a shift back toward long-term bullish momentum and reinforcing the broader reversal structure. Momentum indicators are also supportive, with the RSI sustaining above the 60-mark, reflecting improving bullish momentum without entering extreme overbought territory. Volume participation has picked up during the recent advance, suggesting accumulation at higher levels.

The structure suggests potential toward Rs 4,480–4,500, while Rs 3,820 acts as a critical stop-loss, below which the reversal structure would weaken.

Strategy: Buy

Target: Rs 4,480, Rs 4,500

Stop-Loss: Rs 3,820

Kirloskar Oil Engines | CMP: Rs 1,468.9

Kirloskar Oil Engines is exhibiting a strong bullish continuation structure on the daily chart after delivering a decisive breakout above the long-standing horizontal resistance near the Rs 1,430–1,450 zone. The breakout marks a clear shift from consolidation to trend expansion, supported by a sustained higher high–higher low price structure, indicating persistent buying interest on declines.

Price action is comfortably trading above its rising 10-DEMA and 20-DEMA, reflecting strong short-term momentum and trend strength. The stock is also hovering near its all-time high zone, which highlights continued demand and accumulation at elevated levels. The brief consolidation around the breakout area suggests healthy digestion of gains rather than distribution.

Momentum indicators remain supportive, with the RSI sustaining in the mid-to-high 60 zone, signalling strong bullish momentum without entering extreme overbought territory.

Strategy: Buy

Target: Rs 1,620, Rs 1,630

Stop-Loss: Rs 1,385

Astra Microwave Products | CMP: Rs 1,034.4

Astra Microwave Products is displaying a strengthening bullish structure on the daily chart after confirming a triple-bottom breakout, a pattern that typically signals exhaustion of selling pressure and the beginning of a trend reversal.

Following this base formation, the stock has witnessed steady accumulation and has now moved decisively above the horizontal resistance near Rs 1,000–1,010, indicating a clear breakout and a shift in market control toward buyers. Price action is comfortably sustaining above the rising 20-DMA while also reclaiming the 200-DMA, reflecting improving medium-term trend alignment and strengthening momentum.

The recent sequence of higher highs and higher lows further reinforces the bullish structure, suggesting sustained demand at lower levels. Momentum indicators remain supportive, with the RSI trending above 60, highlighting improving strength without entering extreme overbought territory. Volume participation has also expanded during the breakout phase, pointing toward renewed buying interest and institutional accumulation.

Strategy: Buy

Target: Rs 1,130, Rs 1,140

Stop-Loss: Rs 975