Momentum Builds Across Financials and Infra Stocks — Here Are the Top Technical Picks for Short-Term Gains
📈 Market Setup: Trend Remains Positive Despite Weak Breadth
The benchmark indices closed higher for a third straight session on October 17, with the Nifty gaining around 0.5%. Despite weak market breadth, underlying momentum and technical strength continue to favor bulls, setting the stage for short-term opportunities in select stocks.
Below are the top short-term trading ideas, curated from leading technical analysts:
🔹 Tata Consumer Products (CMP: ₹1,166)
Trendline breakout confirmed at ₹1,155 on strong volumes. Trading above all major SMAs with Bollinger Band and RSI buy signals across timeframes.
- Strategy: Buy
- Targets: ₹1,200 / ₹1,255
- Stop-Loss: ₹1,155
🔹 M&M Financial Services (CMP: ₹300.1)
Breakout from long-term consolidation zone. Strong bullish setup with SMAs trending upward and RSI strength.
- Strategy: Buy
- Targets: ₹325 / ₹345
- Stop-Loss: ₹294
🔹 Phoenix Mills (CMP: ₹1,687.8)
Triangle pattern breakout on the weekly chart at ₹1,650, backed by strong volumes and RSI momentum.
- Strategy: Buy
- Targets: ₹1,855 / ₹1,930
- Stop-Loss: ₹1,650
🔹 Adani Ports & SEZ (CMP: ₹1,479.4)
Inverse Head & Shoulders breakout confirmed on the weekly chart with robust volume. RSI across all timeframes above 70.
- Strategy: Buy on dips to ₹1,470–1,479
- Target: ₹1,580
- Stop-Loss: ₹1,430
🔹 Radico Khaitan (CMP: ₹3,108.5)
Entered uncharted territory after breaking above prior swing high. Strong RSI and volume spike post-consolidation signal continuation.
- Strategy: Buy on dips to ₹3,090–3,108
- Target: ₹3,480
- Stop-Loss: ₹2,970
🔹 Shriram Finance (CMP: ₹675.5)
Cup-and-handle breakout with strong volumes and next target set at larger VCP neckline (₹712–714). Momentum indicators support the move.
- Strategy: Buy
- Target: ₹714
- Stop-Loss: ₹640
🔹 Cholamandalam Investment & Finance (CMP: ₹1,654.3)
Broke out of a 262-day-long VCP pattern. Retest near breakout zone suggests buying opportunity with strong uptrend support.
- Strategy: Buy on dips toward ₹1,620–1,650
- Target: ₹1,850
- Stop-Loss: ₹1,600
📝 Key Takeaways for Traders:
- Despite weak market breadth, these stocks exhibit technical strength, supported by bullish momentum indicators.
- All recommendations are short-term trades with clearly defined entry levels, targets, and stop-losses.
- Traders should monitor volume surges, retest levels, and broader index direction to validate positions.
Strong bullish technical setups in Tata Consumer, M&M Financial, Adani Ports, and others signal short-term trading opportunities. Breakouts from key patterns and RSI strength support upward momentum, even as market breadth remains cautious.