Trade Spotlight: How should you trade Urban Company, Inox Wind, CG Power, Apollo Hospitals Enterprise,…

According to fresh market updates, The key market indices declined around 1 percent on September 9, extending their downtrend for the third consecutive session. Market breadth remained negative, with around 1,986 shares declining against 1,272 advancing shares on the NSE. The market is likely to see consolidation with a negative bias. Here are some short-term trading ideas to consider:

Rupak De, Senior Technical Market observer at LKP Securities

Urban Firm | CMP: Rs 171.59

Urban Firm has noted a sigh of relief on Wednesday following a few days of slide on the daily timeframe, suggesting an initial sign of recovery. On the hourly chart, the price has recovered above the 50 EMA, indicating a possible improvement in the trend. The hourly RSI has additionally witnessed a bullish crossover.

Besides, the stock has found backing around the low of the previous congestion zone and has recovered from those marks. In the near term, the trend may stay positive, with the stock having the potential to climb towards Rs 185. On the softer end, backing is placed at Rs 167. Target: Rs 185 Stop-Loss: Rs 167 Inox Wind | CMP: Rs 77.39

Inox Wind has moved elevated after a few days of consolidation, pointing towards an improvement in bullish sentiment. Besides, the stock is sustaining above the 20 EMA on the daily timeframe.

The price has additionally risen after forming a positive divergence, indicating improving momentum. Overall, the sentiment stays positive for the stock, with the potential to climb towards Rs 81 in the short term. On the softer end, backing is placed at Rs 76. Target: Rs 81 Stop-Loss: Rs 76

DLF September Futures | CMP: Rs 657.90

DLF has fallen from its recent consolidation range, suggesting a climb in pessimism around the stock. The price has eased below the critical moving average on the daily timeframe.

The RSI is in a bearish crossover and keeps decline, indicating weakening momentum. The softness may persist in the short term, with a possible downside towards Rs 645. On the elevated end, resistance is placed at Rs 670, above which the trend may improve. Sell DLF September Futures around Rs 662. Target: Rs 645 Stop-Loss: Rs 670

Sudeep Shah – Head of Technical and Derivatives Research at SBI Securities

CG Power and Industrial Solutions | CMP: Rs 926.95

CG Power and Industrial Solutions had been consolidating in the Rs 916–860 zone since August 5 before witnessing a decisive breakout and closing elevated. The stock is now trading above its key short- and long-term moving averages, indicating a strengthening bullish setup.

The RSI has turned elevated and moved marginally above the 60 mark, signalling renewed bullish momentum. In the meantime, the DI lines have widened further, with DI+ firmly placed above DI- on the ADX indicator, highlighting the increasing dominance of bulls.

Sustained trading above the breakout zone could pave the way for further upside, with the overall technical setup remaining firmly positive in the near term. Hence, accumulation is recommended in the Rs 920–930 zone, with a stop-loss at Rs 890. On the upside, the stock is likely to test Rs 995 in the short term. Target: Rs 995 Stop-Loss: Rs 890

Apollo Hospitals Enterprise | CMP: Rs 8,967

Apollo Hospitals has witnessed a decisive breakout from a symmetrical triangle pattern on the daily chart, signalling a potential resumption of the uptrend. The breakout is backed by a healthy climb in volumes over the last three sessions, adding conviction to the move.

Momentum indicators have additionally turned supportive, with the RSI breaking above its horizontal trendline resistance, indicating renewed buying momentum. The DI+ has crossed above DI- on the ADX indicator, suggesting that bulls are gaining control over sellers.

Further strengthening the setup, the MACD line has crossed above the zero line, reinforcing the positive bias and indicating scope for further upside in the near term. Hence, accumulation is recommended in the Rs 8,880–8,960 zone, with a stop-loss at Rs 8,600. On the upside, the stock is likely to test Rs 9,585 in the short term. Target: Rs 9,585 Stop-Loss: Rs 8,600

Adani Ports and Special Economic Zone | CMP: Rs 1,775

Adani Ports had been consolidating in the Rs 1,724–1,593 zone since the start of August. Following the sharp 6.70 percent slide on August 31, which pushed the stock below its 200-day EMA, the stock has staged a firm rebound and decisively broken above the upper end of the consolidation range. The breakout is supported by a healthy climb in volumes, adding conviction to the move.

The RSI is rising, indicating renewed bullish momentum, while the stock has additionally closed above the upper Bollinger Band, a phenomenon often associated with the early stages of a firm trend. Sustained momentum could pave the way for further upside. Hence, accumulation is recommended in the Rs 1,750–1,770 zone, with a stop-loss at Rs 1,700. On the upside, the stock is likely to test Rs 1,895 in the short term. Target: Rs 1,895 Stop-Loss: Rs 1,700

Vaishali Patel, Senior Manager – Research- Technical Department at Jainam

Meesho | CMP: Rs 216.7

Meesho is exhibiting a firm bullish setup as the stock has successfully broken out above the key resistance zone, which had capped upside during the past few months. Following the breakout, the stock has entered a healthy consolidation phase near Rs 215–218, indicating sustained buying interest at elevated marks.

The price keeps trade above its important moving averages on the daily chart, confirming the resilience of the ongoing uptrend. The recent formation of a pennant-like structure suggests that the stock is consolidating before its next directional move.

Momentum stays favourable, with the RSI holding above 60 and trending elevated. Volumes have additionally remained supportive around the breakout region, adding credibility to the prevailing trend. Target: Rs 230 Stop-Loss: Rs 206

Aegis Vopak Terminals | CMP: Rs 297.65

Aegis Vopak Terminals is showing a bullish bias after breaking above the descending trendline resistance. The stock is trading above its key moving averages, indicating a positive short- to medium-term trend structure. The breakout is supported by improving volumes and rising directional resilience, adding credibility to the move.

Sustaining above Rs 295–300 could open the way towards Rs 310–320 in the near term. The recent rebound from the Rs 265–270 backing zone suggests that bulls keep defend softer marks aggressively. The stock has formed a series of elevated lows during the past few weeks, indicating steady accumulation and improved buying interest. Target: Rs 315 Stop-Loss: Rs 286

BlueStone Jewellery and Lifestyle | CMP: Rs 874.4

BlueStone Jewellery is showing signs of a fresh bullish breakout after successfully crossing and sustaining above the crucial Rs 860 resistance zone, which had acted as a supply area during the past few days. The stock has formed a firm base following its sharp surge and is now resuming its primary uptrend with a sequence of elevated highs and elevated lows.

Importantly, prices keep trade above the 20-day, 50-day and 200-day moving averages, highlighting the resilience of the underlying trend. The recent breakout from the consolidation range suggests that traders at large are accumulating at elevated marks, which is typically a positive sign for trend continuation. Target: Rs 930