Nifty 50 Climbs for Third Straight Session, Reclaims 25,979 Mark
The Nifty 50 index continued its upward trajectory, rising by approximately half a percent to reclaim the 25,979 mark on Tuesday, February 10. This marks the third consecutive session of gains, reflecting a positive market sentiment fueled by optimism surrounding an India-US trade deal. The broader market environment remains supportive, driven by healthy foreign capital inflows, a weakening US dollar, and easing geopolitical tensions.
Market analysts believe that sustained buying by Foreign Institutional Investors (FIIs), a stronger Indian rupee, and further reductions in geopolitical risks could propel the domestic market to new record highs in the near future. In this context, short-term traders are advised to focus on stocks exhibiting favourable technical indicators to capitalise on potential upside movements.
Expert Stock Recommendations for Short-Term Trading
Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Equity Broking have identified six stocks that they recommend for purchase over the next one to two weeks. These selections are based on detailed technical analysis, including chart patterns, moving averages, and momentum indicators.
Vishnu Kant Upadhyay's Picks
Shriram Finance (Previous Close: ₹1,062.70) – Upadhyay highlights a short-term bullish consolidation breakout on the daily timeframe, supported by improving volumes that suggest fresh accumulation. The price structure is forming higher highs and higher lows, confirming trend continuity. The stock trades above its 20-, 50-, and 200-day Exponential Moving Averages (EMAs), indicating strong bullish alignment. Momentum indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) remain supportive, favouring further near-term upside. Target prices are set at ₹1,180 and ₹1,220, with a stop loss at ₹973.
Shyam Metalics and Energy (Previous Close: ₹890.70) – This stock has extended its short-term bullish trend reversal following a confirmed double bottom formation and a decisive breakout on the daily chart, backed by steady volumes. The emergence of higher highs and higher lows signals trend resumption. Trading above key short-term EMAs, with RSI trending upward in bullish territory and MACD maintaining a positive crossover, suggests strengthening momentum. Target price is ₹970, with a stop loss at ₹830.
Equitas Small Finance Bank (Previous Close: ₹67.07) – Upadhyay notes a constructive short-term bullish setup after a breakout from an inverse head and shoulders formation, with the stock holding above the breakout level on retest. This confirms demand at lower levels, and the price structure has started forming higher lows, indicating a trend shift. Supportive momentum indicators and credible volume behaviour around the breakout keep the near-term outlook positive. Target price is ₹74, with a stop loss at ₹63.
Hitesh Tailor's Picks
Titan Company (Previous Close: ₹4,257.80) – Tailor points out that Titan is showing strength by trading above a recently achieved wider-range horizontal breakout. Post-breakout, the stock has successfully retested the breakout zone and is moving higher, confirming bullish acceptance. The higher high–higher low structure indicates a sustained uptrend, reinforced by trading above key EMAs. RSI at 66.22 and making higher highs suggests strength. Short-term traders may consider buying at the current market price with a stop loss of ₹4,050 for a target of ₹4,640.
Dr. Reddy's Laboratories (Previous Close: ₹1,275.50) – This stock is showing strength after delivering a clear parallel channel breakout and sustaining a close above it, indicating a shift towards bullish momentum. Trading above key EMAs reflects improving trend strength and buying interest. RSI has bounced back from the oversold zone to 62.03, highlighting a revival in momentum. Short-term traders may consider buying at the current market price with a stop loss of ₹1,230 for a target of ₹1,365.
IndusInd Bank (Previous Close: ₹927.90) – Tailor notes that IndusInd Bank is showing strength as it takes consistent support near the 20-day EMA and moves higher, indicating renewed buying interest. Immediate downside support is placed near ₹900–905, aligned with the 20-day EMA. Trading above its 50, 100, and 200 EMAs highlights a positive broader trend, with RSI holding above the 50 mark and turning higher, suggesting improving momentum. Short-term traders may consider buying at the current market price with a stop loss of ₹894 for a target of ₹1,000.
Disclaimer: This article is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms and not of Bharat Horizon. Investors are advised to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
