Trade Spotlight: How should you trade Azad Engineering, Lloyds Metals and Energy, Gland Pharma, Indian…

The latest market report highlights that Equity benchmarks staged a firm recovery from the day’s low but ended around a third of a percent softer on September 29 amid weak market breadth. Around 1,870 shares declined, compared with 1,380 advancing shares on the NSE. While the market may extend its recovery, the sustainability of the rebound stays key to watch amid a weak broader market structure. Here are some short-term trading ideas to consider:

Ashish Kyal, Founder and CEO of Waves Strategy Advisors

Azad Engineering | CMP: Rs 2,914.2

In the previous session, Azad Engineering marked a new lifetime high of Rs 2,998, outperforming the broader market with a gain of more than 7 percent. The sharp move came after the firm inaugurated two exclusive lean manufacturing facilities in Hyderabad on September 28, dedicated to GE Vernova’s Gas Power business.

From a technical perspective, the stock recently reversed from Rs 2,640, where the 50-period EMA provided backing, indicating firm buying interest. Since then, the price has formed a clear elevated high and elevated low structure.

The previous session additionally recorded the highest trading volume since June 6, 2025, providing further confirmation of the up move. A sustained break above Rs 2,950 could open the possibility of Wave 5 of (3) towards Rs 3,040–3,060, followed by Rs 3,150, as long as Rs 2,830 holds on the downside. Target: Rs 3,040, 3,150 Stop-Loss: Rs 2,830

Knowledge Marine and Engineering Works | CMP: Rs 3,064.8

At the start of the week, Knowledge Marine & Engineering Works found firm backing at the red baseline of the Ichimoku Cloud, triggering a sharp recovery of more than 10 percent in just two trading sessions and highlighting renewed buying interest. The stock is now approaching the important prior swing high near Rs 3,175, which is likely to act as the next key hurdle.

A sustained breakout above this level could further strengthen the ongoing up move and turn the 24-period Time Cycle bullish. This could trigger the next phase of the surge towards Rs 3,300, followed by Rs 3,400, as long as Rs 3,050 holds on a closing basis. Target: Rs 3,300, Rs 3,400 Stop-Loss: Rs 3,050

Lloyds Metals and Energy | CMP: Rs 1,902.2

On the daily chart, Lloyds Metals & Energy appears to be gradually shifting its months-long structure towards a elevated high and elevated low formation. The stock has already retraced 38.2 percent of the entire slide that began in August 2026, with the next important retracement level near Rs 1,935, representing a 50 percent retracement.

Momentum is additionally improving, with the KST line crossing above the signal line from below. A move above the zero line could further strengthen momentum. From a wave perspective, a sustained breakout above Rs 1,910 could confirm the completion of Wave 2 of (3), opening the possibility of Wave 3 of (3), which could take the price towards Rs 2,000–2,040. The key backing stays at around Rs 1,833. Target: Rs 2,000, Rs 2,040 Stop-Loss: Rs 1,833

Rajesh Dashrath Bhosale, Fund Manager – Advisory at Renaissance

Gland Pharma | CMP: Rs 2,989.7

The pharma space has been an outperformer, and this counter has remained resilient, witnessing only a marginal correction during the recent broader market softness. On the daily chart, Gland Pharma has broken out of a continuation-pattern range, supported by an open-low Marubozu candle and firm volumes, indicating sustained buying interest.

The stock is comfortably placed above key moving averages, while the RSI has crossed above 60, further confirming strengthening bullish momentum and the continuation of the uptrend. Target: Rs 3,150 Stop-Loss: Rs 2,870

Amol Athawale, VP Technical Research, Kotak Securities

Indian Hotels Firm | CMP: Rs 714.35

On the daily chart, following a correction from elevated marks, Indian Hotels is trading in a range-bound manner. That stated, recent bullish activity near the softer boundary of the range indicates underlying resilience.

The stock is anticipated to rebound and witness a fresh up move from current marks, offering a favourable risk-reward setup.

For the next few trading sessions, Rs 690 could act as the trend-decider level for the bulls. If the stock sustains above this level, it could extend its uptrend towards Rs 765. Target: Rs 765 Stop-Loss: Rs 690

APL Apollo Tubes | CMP: Rs 2,188.6

On the weekly chart, following its previous up move, APL Apollo Tubes is trading sideways and forming a flag pattern above its key moving average. The stock is exhibiting a bullish continuation pattern, indicating the possibility of a new leg of the up move resuming over the upcoming sessions.

As long as the stock trades above Rs 2,120, the bullish structure is likely to stay intact. A sustained move above this level could take the stock towards Rs 2,340. Target: Rs 2,340