Stocks to buy for the short term: The Indian stock market shrugged off concerns over the rise in STT on F&O, announced by the Finance Minister Nirmala Sitharaman in ger Budget 2026 speech, and clocked strong gains on Monday, February 2.
The Sensex jumped 944 points, or 1.17%, while the Nifty 50 closed at 25,088.40, gaining 263 points, or 1.06%.
With the Budget over, markets’ focus is back on fundamentals. The domestic market may see some volatility due to mixed Q3 earnings and evolving geopolitical scenarios.
On the technical front, experts believe that as long as the Nifty 50 remains below the 200-SMA near 25,250, sentiment may remain weak. They believe the Nifty may find support at 25,000 and 24,900 in case of a downside.
As the market sentiment remains cautious, experts say short-term investors should focus on stocks with favorable technical indicators.
Vishnu Kant Upadhyay of Master Capital Services and Aakash Shah of Choice Equity Broking recommend the following six stocks to buy for the next 1-2 weeks:
Stock picks for short term
Expert: Vishnu Kant Upadhyay, AVP – Research Advisory, Master Capital Services
Mishra Dhatu Nigam (MIDHANI) Buy at ₹356 | Target prices: ₹395 and ₹405 | Stop loss: ₹324
According to Upadhyay, Mishra Dhatu Nigam shares are showing early signs of a bullish reversal, having rebounded sharply from recent lows with strong price expansion.
The stock has reclaimed its short-term EMAs and is attempting to move back above the medium-term moving average cluster, indicating improving momentum.
“Prices are currently trading comfortably above the falling trendline resistance, indicating technical strength in prices. The recent breakout attempt is supported by rising volumes, suggesting renewed buying interest,” said Upadhyay.
Jindal Saw | Buy at ₹177 | Target prices: ₹196 and ₹200 | Stop loss: ₹162
Upadhyay underlined that Jindal Saw shares have witnessed a decisive breakout, confirmed by a sharp surge in volumes, indicating strong institutional participation.
After the breakout, the stock has undergone a healthy retracement, suggesting profit booking rather than trend reversal.
The pullback appears constructive, helping the stock consolidate above the breakout zone. Furthermore, it has regained its short-term moving averages.
“As long as it sustains this reclaimed level, the broader setup remains bullish, with scope for trend continuation and a fresh leg of upside in the near term,” said Upadhyay.
Alivus Life Sciences | Buy at ₹922 | Target prices: ₹990 ₹1,020 | Stop loss: ₹865
Upadhyay highlighted that Alivus Life Sciences shares are showing a constructive bullish setup, having rebounded sharply from recent lows and reclaimed its short-term EMAs.
The price action indicates a higher low formation, signaling improving momentum after a prolonged corrective phase.
Rising volumes on the recovery suggest fresh accumulation at lower levels.
“As the stock is currently sustaining above its immediate support zone of ₹900-920 and continues to build above the short-term moving averages, the technical structure supports further upside extension in the near term,” said Upadhyay.
Expert: Aakash Shah, Research Analyst at Choice Broking
NMDC | Buy at ₹81.44 | Target price: ₹87.68 | Stop loss: ₹78.42
According to Shah, NMDC shares are showing a reversal from key support levels. The RSI at 52.05 is trending upward, signaling healthy momentum.
Shah said on the weekly timeframe, the stock continues to form a higher high–higher low structure and has rebounded from lower levels, suggesting a continuation of the uptrend.
On the daily chart, Shah highlighted that a bullish hammer has formed, and a breakout above ₹82 with rising volumes would confirm strong buying interest and validate the move.
“This setup indicates a potential short-term upside target of ₹87.68. The stock is trading above its 20-day, 50-day, and 200-day EMAs, reflecting positive sentiment. Traders may consider buying near ₹81.44, with a stop loss at ₹78.42 and minor support at ₹79.84,” said Shah.
Samvardhana Motherson International | Buy at ₹114.09 | Target price: ₹124 | Stop loss: ₹109.70
Shah highlighted Samvardhana Motherson shares have rebounded from a key support zone near its 200-day EMA and is exhibiting healthy consolidation, indicating underlying strength and accumulation.
The stock is trading above its 20-day, 50-day, 100-day, and 200-day EMAs, confirming a strong multi-timeframe trend. The RSI at 50.03 is turning upward, reflecting improving momentum.
“A decisive close above ₹116.70, supported by strong volumes, could trigger further upside towards ₹124 in the medium to long term. Traders may consider a buy-on-dips approach near ₹114.09, with support at ₹111, a stop loss at ₹109.7, and upside targets toward ₹124,” said Shah.
Welspun Corp | Buy at ₹755 | Target price: ₹850 | Stop loss: ₹710
Shah pointed out that Welspun Corp shares are showing healthy consolidation near last month’s low, suggesting base formation and potential trend stabilization.
On the daily timeframe, the RSI stands at 47.35 and is trending higher while displaying bullish divergence, indicating improving momentum and a possible reversal.
The stock is approaching its 20-day EMA, and a sustained move above it could open the path toward the 50-day and 200-day EMAs.
“A decisive close above the ₹775 resistance, backed by strong volumes, could propel the stock toward ₹850 in the medium to long term. Traders may consider a buy-on-dips strategy near ₹755, with support at ₹744, a stop loss at ₹710, and upside targets towards ₹850,” said Shah.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
