Liberalised remittance scheme outflows ease in February 2026...
24 Apr 2026
Equity benchmarks extended their southward journey, declining 0.8 percent for the second straight session on April 23. Market breadth favoured bears, as about 1,934 shares declined against 1,031 advancing shares on the NSE. Consolidation may continue in the equity markets, tracking rising oil prices above the $100-a-barrel level. Below are some short-term trading ideas to consider:
Jay Mehta, Technical Research at JM Financial Services
Anthem Biosciences | CMP: Rs 740.65
Anthem Biosciences has confirmed a bullish reversal following a decisive breakout from a multi-month Inverted Head and Shoulders pattern. The validity of this move is reinforced by a successful retest of the breakout zone, marked by two consecutive dojis—creating a textbook setup for this classical formation.
The price is trending firmly above its 20- and 50-day EMAs, with a positive crossover underscoring the structural strength of the move. Momentum remains robust, with the RSI at 63.1, while the dominance of the +DI over the -DI and an ADX of 32 suggest the uptrend has significant staying power. This bullish outlook is further supported by consistent volume activity, validating the breakout and subsequent upward trajectory.
Strategy: Buy
Target: Rs 805, Rs 850
Stop-Loss: Rs 704
Zydus Lifesciences | CMP: Rs 946.35
Zydus Lifesciences has confirmed a bullish turnaround following a decisive breakout from a multi-month Symmetrical Triangle consolidation. The price has reclaimed its structural footing, signalling a transition from a sideways phase to an uptrend. Currently, the stock is trading above its 20-, 50-, and 200-day EMAs, with a positive alignment of these averages suggesting a “cluster breakout” that reinforces price strength.
The RSI is positioned at 63, reflecting healthy momentum with significant room on the upside. Furthermore, the +DI has crossed above the -DI, and rising volume during the breakout validates bullish strength, indicating that the trend is likely to persist toward previous swing highs.
Strategy: Buy
Target: Rs 1,020, Rs 1,050
Stop-Loss: Rs 900
Tata Communications | CMP: Rs 1,580.7
Tata Communications is signalling a primary trend reversal after forming a solid base near the Rs 1,325–1,350 support zone and successfully breaching a descending trendline. The price action is supported by a bullish RSI divergence, which preceded the current move, with the RSI now holding strong at 62.
The stock has surged above its 20- and 50-day EMAs and is now challenging the 200-day EMA, a move that would confirm a shift in the long-term trend. With the +DI trending higher and selling pressure (-DI) receding, the technical setup is firmly in favour of the bulls. Consistent volume activity at the support zone further validates this accumulation phase, supporting a continued recovery.
Strategy: Buy
Target: Rs 1,710, Rs 1,800
Stop-Loss: Rs 1,487
Om Mehra, Technical Research Analyst at Samco Securities
SRF | CMP: Rs 2,542.4
SRF is showing signs of gradual base formation after a prolonged decline, with prices stabilising in the Rs 2,500–2,550 zone. The recent move indicates a shift from a sharp downtrend to a more controlled phase, as the stock has started forming higher lows over the past few sessions.
The price is now attempting to move closer to the short-term moving average. Recent candles reflect steady accumulation, supported by a mild pickup in volumes. The RSI is placed near 53 and trending higher, suggesting improving momentum from lower levels. The MACD remains below the zero line but is gradually moving upward, indicating that downside momentum is easing.
Strategy: Buy
Target: Rs 2,700
Stop-Loss: Rs 2,445
National Aluminium Company | CMP: Rs 439.25
National Aluminium Company continues to exhibit a steady uptrend. The stock has been forming higher highs and higher lows, reflecting sustained strength in the ongoing move. The recent advance has pushed the stock to a new high.
The price remains well supported by the short-term moving average, which is trending upward and acting as a cushion on declines. Volumes have remained stable, indicating consistent participation rather than any abrupt surge. The RSI is placed near 65 and holding firm. The MACD remains in positive territory with a gradual upward slope, supporting continuation of the trend.
Strategy: Buy
Target: Rs 465
Stop-Loss: Rs 424
PI Industries | CMP: Rs 3,069.60
PI Industries has shown a sharp recovery from lower levels after a prolonged decline, with the recent move indicating a shift in short-term momentum. The stock is holding above the 20- and 50-day SMAs.
The recovery has been relatively swift, with a sequence of strong bullish candles followed by a continuation of the uptrend. Volumes have seen a noticeable pickup during the upmove, reflecting improved participation. The RSI is placed near 57 and trending higher. The MACD has moved above the zero line and continues to improve. The inverted head and shoulders pattern further adds strength to the setup.
Strategy: Buy
Target: Rs 3,250
Stop-Loss: Rs 2,970
Hitesh Tailor, Technical Research Analyst at Choice Broking
Solar Industries India | CMP: 15,747
Solar Industries India is trading firmly above all its key daily exponential moving averages, highlighting a strong and sustained bullish trend in the overall price structure. The stock has recently witnessed a decisive breakout from a horizontal resistance zone on the daily timeframe, indicating a continuation of upward momentum and strengthening the broader bullish outlook. The breakout reflects strong buying interest and a positive shift in market sentiment.
Additionally, a bullish EMA crossover, along with a well-defined rising trend, suggests potential for further upside in the near term. Based on this setup, traders may consider initiating long positions at the current market price, with a stop-loss placed at Rs 14,800 and an upside target of Rs 17,500.
Strategy: Buy
Target: Rs 17,500
Stop-Loss: Rs 14,800
Glenmark Pharma | CMP: Rs 2,335
Glenmark Pharma is currently moving in a strong uptrend, forming a consistent pattern of higher highs and higher lows, which indicates sustained bullish momentum and strength in price action. The stock has also given a fresh breakout from a cup-and-handle pattern on the daily timeframe, signalling continuation of the uptrend and renewed buying interest.
Additionally, the RSI is trading above the midpoint of 50, reflecting underlying strength and supporting the ongoing bullish momentum in the stock.
Strategy: Buy
Target: Rs 2,580
Stop-Loss: Rs 2,200
Jio Financial Services | CMP: Rs 248.66
Jio Financial Services has delivered a fresh breakout from a prolonged sideways range on the daily timeframe after a phase of accumulation near a strong support zone, indicating a potential trend reversal and the emergence of bullish momentum. The stock has also witnessed a strong breakout, with a bullish candle closing above the previous swing high, signalling strength in price action and confirming continuation of the upward move.
Additionally, the breakout is supported by a noticeable rise in volume, reflecting strong buying participation and adding conviction to the move. The RSI has also moved above the midpoint after a consolidation phase, indicating strengthening momentum.
Strategy: Buy
Target: Rs 275
Stop-Loss: Rs 233
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.Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
