Trade Spotlight: How should you trade HBL Engineering, Arvind, Inventurus Knowledge Solutions, RR Kabel,…

New business data points to the fact that The key market indices declined more than 1.6 percent on September 24, with softness in market breadth. Around 2,476 shares declined, compared with 772 shares that advanced on the NSE. Given the prevailing caution, the market may see further consolidation, while any recovery is likely to attract selling pressure. Here are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

Inventurus Knowledge Solutions | CMP: Rs 1,868.3

Inventurus Knowledge Solutions has given a breakout above a sloping channel in which it had been trading for more than two months. The price is at present trading above its short-term and long-term moving averages.

The recent breakout was supported by firm positive volume. Trend and momentum indicators stay in bullish territory and backing continued upside. Overall, the trend stays positive. Target: Rs 2,050, Rs 2,150 Stop-Loss: 1,785

HBL Engineering | CMP: Rs 775.3

HBL Engineering has broken out of a consolidation range and above a trendline and is at present trading above its short-, medium- and long-term moving averages. Momentum and trend indicators backing a bullish outlook. The recent breakout was accompanied by firm volume participation, indicating positive accumulation and healthy buying interest. Target: Rs 809, Rs 830 Stop-Loss: Rs 735

Alembic Pharmaceuticals | CMP: Rs 850

Alembic Pharma has broken out above a tight consolidation range as well as a sloping trendline. The stock is at present hovering near the breakout retest zone. Recent sessions have witnessed firm volume participation, indicating ongoing accumulation.

The price is trading above its short-, medium- and long-term moving averages, which should provide backing on any minor dips. Volumes have been consistently building above the 20-day average, reflecting robust participation. Momentum and trend indicators keep backing a bullish bias. Target: Rs 900, Rs 999 Stop-Loss: Rs 786

Om Mehra, Technical Research Market observer at Samco Securities

Arvind | CMP: Rs 565.7

Arvind broke out of its Rs 540-550 consolidation zone with a decisive move elevated, underscored by identical open and low marks. The stock surged on elevated volumes, well above the recent average, reflecting firm participation. The Supertrend stays in bullish mode and is placed as a major backing level, providing a cushion on the downside.

The RSI is placed near 56 and has turned elevated from the softer end of its recent range, indicating improving momentum. A sustained close above the Rs 570 zone would further strengthen the near-term setup.

Hence, one can consider long positions at the CMP of Rs 565.70, with an anticipated move towards Rs 600 and a stop-loss at Rs 548. Target: Rs 600 Stop-Loss: Rs 548 RR Kabel | CMP: Rs 2,529.80

RR Kabel has witnessed a sharp correction and has been forming a rounding bottom pattern near the Rs 2,350-2,400 zone during the past few weeks. The stock is now recovering steadily from that base and is approaching the 20-day SMA, which stays the immediate level to watch for a decisive reclaim.

The open and low nearly coincide, reflecting the resilience of the daily candle. The RSI has recovered sharply from deeply oversold marks, with a positive divergence. Hence, one can consider long positions at the CMP of Rs 2,529.80, with an anticipated move towards Rs 2,700 and a stop-loss at Rs 2,430. Target: Rs 2,700 Stop-Loss: Rs 2,430 SKF India | CMP: Rs 1,542

SKF India has been respecting the rising trendline on the daily chart, building a base in the Rs 1,480-1,510 zone and gradually recovering. The stock is now consolidating just above the VWAP (volume-weighted average price) placed at Rs 1,530 and is trading above the Supertrend placed at Rs 1,475, which keeps provide a reliable cushion on declines. The stock has regained its position above the 20- and 50-day SMAs.

The RSI has recovered to the 50 mark after spending a period in the softer zone. A sustained close above Rs 1,555 would meaningfully improve the near-term outlook. Hence, one can consider long positions at the CMP of Rs 1,542, with an anticipated move towards Rs 1,640 and a stop-loss at Rs 1,495. Target: Rs 1,640 Stop-Loss: Rs 1,495

Hitesh Tailor, Technical Research Market observer at Choice Broking

Zydus Lifesciences | CMP: Rs 1,180.3

Zydus Lifesciences is exhibiting firm bullish resilience after taking robust backing around its 100-day EMA, where active accumulation was witnessed before staging a clean rebound. The moving-average framework keeps provide firm underlying backing, reinforcing the stock's structural uptrend.

Additionally, momentum indicators signal a positive turn, with the daily RSI reversing cleanly from below its midpoint to stand at 60.07, indicating strengthening upward momentum and active buying interest.

The technical setup favours buying around Rs 1,180, with Rs 1,130 as the strict risk-control level and Rs 1,280 as the potential upside objective. Target: Rs 1,280 Stop-Loss: Rs 1,130

Finolex Cables | CMP: Rs 1,480

Finolex Cables is demonstrating robust bullish momentum, continuing to advance in a well-defined elevated-high and elevated-low sequence on the daily chart. The stock has maintained a firm upward structure above its key moving averages following a high-volume breakout, reflecting sustained accumulation and buying confidence.

Additionally, the daily RSI stands at 68.01, holding firmly above its signal line at 62.41 and the central zone, signalling healthy and expanding upward momentum. The technical structure stays highly constructive, favouring buying around Rs 1,480, with Rs 1,400 as the strict risk-control level and Rs 1,600 as the potential upside objective. Target: Rs 1,600