The benchmark indices rallied nearly 0.7 percent on July 7, taking their cumulative gains over the past four consecutive sessions to 2.36 percent. However, market breadth remained negative, with around 1,645 stocks declining compared with 1,371 advancing stocks on the NSE. The market may attempt to move towards the April high, although trading is likely to remain range-bound. Below are some short-term trading ideas to consider.
Jigar S Patel, Senior Manager - Equity Research at Anand Rathi
Maruti Suzuki India | CMP: Rs 14,456
Maruti Suzuki India has delivered a strong breakout above the Rs 14,200-14,300 resistance zone, backed by a notable rise in volumes, indicating fresh buying interest. The stock is trading well above its 100-week (Rs 13,324) and 200-week (Rs 11,738) moving averages, reaffirming a strong long-term bullish trend.
Momentum indicators are also turning favourable, with the RSI at 55 moving above the 50 mark, while the MACD has generated a bullish crossover, signalling improving upside momentum. The OBV (On-Balance Volume) is making higher highs, reflecting sustained accumulation, while the Cumulative Volume Delta (CVD) has turned positive, suggesting buying pressure is strengthening.
Traders may consider entering long positions in the Rs 14,250-14,450 zone, with a target of Rs 15,250.
Strategy: Buy
Target: Rs 15,250
Stop-Loss: Rs 13,800
Tata Steel | CMP: Rs 190.87
Tata Steel has formed a hidden bullish divergence near its previous breakout zone, indicating that the broader uptrend remains intact despite the recent correction. As shown on the chart, the current support zone aligns with the 200-day Simple Moving Average (SMA), making it a crucial demand area.
Momentum indicators also suggest the downside may be limited, with the MACD slipping into a heavily oversold zone, similar to the levels seen in January 2025, from where the stock staged a strong recovery. This confluence of technical factors strengthens the possibility of a rebound from current levels.
Traders may consider entering long positions in the Rs 188-191 zone, with a target of Rs 206.
Strategy: Buy
Target: Rs 206
Stop-Loss: Rs 182
Hindalco Industries | CMP: Rs 980.4
Hindalco has witnessed a healthy rebound after finding support near its 200-day EMA (Rs 924), indicating that the long-term trend remains positive. The stock is currently trading above this crucial moving average, which continues to act as a strong support zone. The RSI has recovered from oversold levels and is gradually moving higher, suggesting improving momentum after the recent correction.
Meanwhile, the MACD remains in negative territory, but the histogram is narrowing, indicating that bearish momentum is fading and that a positive crossover could emerge if buying continues. On the volume front, the OBV remains above its 50-day average, reflecting sustained accumulation despite recent profit booking.
Traders may consider entering long positions in the Rs 970-980 zone, with a target of Rs 1,045.
Strategy: Buy
Target: Rs 1,045
Stop-Loss: Rs 935
Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities
Colgate Palmolive India | CMP: Rs 2,079.6
Colgate-Palmolive has staged a strong recovery from lower levels, accompanied by a decline in open interest, indicating short covering. This suggests the stock may witness further upside from current levels.
From an options perspective, Put additions have been seen in the Rs 1,980-2,080 range, which is expected to provide strong near-term support. On the upside, Rs 2,100 has the highest Call open interest and is likely to act as the immediate resistance. A sustained move above Rs 2,100 could trigger further short covering, potentially lifting the stock towards Rs 2,180-2,220, which are the short-term targets.
Buying Colgate-Palmolive futures is recommended in the Rs 2,080-2,100 range.
Strategy: Buy
Target: Rs 2,180, Rs 2,220
Stop-Loss: Rs 2,040
Jubilant Foodworks | CMP: Rs 438.25
Jubilant FoodWorks has witnessed a significant correction, accompanied by an increase in open interest, indicating short build-up. However, the stock has paused near its monthly swing support and has since seen a decline in open interest alongside a rise in price, indicating short covering, which could help it retrace a part of its recent decline.
The stock has managed to close above the Rs 430 level, which is its maximum pain level. It has also witnessed significant Put additions in the Rs 400-430 range, which is expected to act as a support zone. On the upside, Rs 450 has the highest Call base and is therefore the first target. A close above this level could trigger further short covering.
Buying is recommended in the Rs 435-438 range, with a stop-loss below Rs 425.
Strategy: Buy
Target: Rs 450, Rs 460
Stop-Loss: Rs 425
Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan
Gravita India | CMP: 1,771.3
After a strong rally during April and May 2026, Gravita India surrendered nearly half of those gains before entering a consolidation phase. In Monday's session, the stock broke decisively above its resistance trendline, while the daily momentum indicator generated a bullish crossover. This complete technical setup suggests that the corrective phase has ended and that the stock is poised to gather fresh momentum in the coming sessions.
Strategy: Buy
Target: Rs 1,900, Rs 1,950
Stop-Loss: Rs 1,650
Karur Vysya Bank | CMP: Rs 304.15
After rebounding from its 40-week EMA, Karur Vysya Bank consolidated in a narrow range above both its 20-day SMA and 40-day EMA. Monday's session resulted in an upside range breakout, accompanied by a bullish crossover in the daily momentum indicator. If the stock sustains these gains, it could also trigger a bullish crossover in the weekly momentum indicator by the end of the week.
The overall technical setup indicates that bulls have regained control and points to further upside in the coming sessions.
Strategy: Buy
Target: Rs 322, Rs 330
Stop-Loss: Rs 292
Vidnyan S Sawant, Head of Research at GEPL Capital
L&T Finance | CMP: Rs 335.6
L&T Finance continues to exhibit a robust long-term bullish structure, supported by a decisive breakout from a multi-year Cup-and-Handle pattern in June 2025. The stock has sustained its upward momentum with continued buying interest.
On the weekly timeframe, a breakout from an inverse Head and Shoulders pattern in recent weeks, backed by strong volumes, signals further upside potential. The stock remains comfortably above its 20-week and 50-week EMAs, confirming trend strength, while the breakout in the Relative Strength Comparison (RSC) indicator above its long-term trendline reinforces strong relative strength and the likelihood of continued outperformance.
Strategy: Buy
Target: Rs 362
Stop-Loss: Rs 320
Aurobindo Pharma | CMP: Rs 1,594.6
Aurobindo Pharma continues to exhibit a strong long-term bullish structure following a bullish polarity shift, with the 2021 resistance level now acting as a key support. The stock recently broke out of a saucer pattern on the weekly chart, backed by strong volumes, indicating sustained buying interest.
Trading above its 20-week and 50-week EMAs confirms trend strength, while the rising Relative Strength (RS) ratio highlights strong relative performance and the potential for continued outperformance.
Strategy: Buy
Target: Rs 1,705
Stop-Loss: Rs 1,530
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.