Trade Spotlight: How should you trade Balrampur Chini Mills, HDFC Bank, Samvardhana Motherson, Jubilant…

The latest market report highlights that Equity benchmarks bounced back, with the Nifty 50 gaining around a third of a percent, supported by some improvement in market breadth. Around 1,704 shares advanced against 1,537 declining shares on the NSE. Overall, the market is anticipated to stay under the bears' control, with Friday's low likely to be crucial for further direction. Here are some short-term trading ideas to consider:

Jatin Gedia, Technical Research Market observer, VP, Derivatives & Technical Research at Teji Mandi

Samvardhana Motherson International | CMP: Rs 165.71

Samvardhana Motherson International has been in a corrective phase for the past five weeks. The stock corrected towards its 50-day moving average (Rs 158) and has since started to recover. In terms of price pattern, it has formed an inverted head-and-shoulders pattern, which is a trend-reversal pattern. The stock has additionally closed above its 20-day moving average (Rs 163), signalling short-term resilience.

The daily momentum indicator has given a positive crossover, and the hourly momentum indicator has now additionally triggered a fresh positive crossover, thereby aligning with the daily timeframe. Considering the price pattern and momentum setup, we expect the stock to trade with a positive bias, with an upside target of Rs 174, which is the pattern target. Target: Rs 174 Stop-Loss: Rs 161

Balrampur Chini Mills | CMP: Rs 685.8

Balrampur Chini Mills has been in an uptrend, forming elevated highs and elevated lows on the daily charts. For the past five weeks, the stock has been consolidating within a narrow range of Rs 660-740. It has witnessed buying interest around its 40-day moving average (Rs 660) and managed to close above its 20-day moving average (Rs 682), indicating short-term resilience.

The momentum indicator is on the verge of giving a positive crossover from below the equilibrium line, which is a bullish sign. We expect the stock to continue its positive momentum towards the upper end of the range at Rs 740. Target: Rs 740 Stop-Loss: Rs 668

Jubilant Foodworks | CMP: Rs 484.55

Jubilant Foodworks has been in a short-term uptrend. During the last four trading sessions, the stock pulled back towards the backing cluster of Rs 477-475, which coincides with its 40-day moving average (Rs 475) and the 61.8 percent retracement level of the Rs 461-502 surge. It witnessed a sharp reversal from this backing cluster and additionally broke out of the channel, indicating a resumption of the uptrend.

The daily momentum indicator has given a positive crossover, and the hourly momentum indicator has now additionally triggered a fresh positive crossover, which is a buy signal. Considering the price pattern and momentum setup, we expect the stock to continue its positive momentum and test the Rs 527 level, which is the previous swing high. Target: Rs 527 Stop-Loss: Rs 475

Osho Krishan, Chief Manager – Technical & Derivative Research at Angel One

HBL Engineering | CMP: Rs 806

A sharp rebound following the breakout from the inverted head-and-shoulders pattern on the daily chart has reinforced the broader structural breakout above the descending trendline. Furthermore, the positive crossover of the 20-day and 50-day EMAs strengthens the bullish setup in HBL Engineering, while the formation of elevated lows indicates an improving price structure.

Collectively, these technical indicators backing a sustained bullish undertone and reinforce the positive momentum. Hence, buying is recommended around Rs 790-780, with a stop-loss at Rs 720. Target: Rs 875, Rs 900 Stop-Loss: Rs 720

Bank of Maharashtra | CMP: Rs 84.88

After taking backing from the consolidation breakout zone and the 100-day EMA, which has acted as a reliable cushion on multiple occasions, Bank of Maharashtra has registered a breakout above the descending trendline on the candlestick chart.

The subsequent positive crossover in the MACD histogram above the zero line further strengthens the technical setup, indicating improving momentum and supporting the potential for a sustained uptrend over the upcoming sessions. Hence, buying is recommended around Rs 84-83, with a stop-loss at Rs 77. Target: Rs 95, Rs 98 Stop-Loss: Rs 77

Mahesh M Ojha, Vice President Research & Business Development at Kantilal Chhaganlal Securities

Titan Firm | CMP: Rs 4,884

Titan is showing a constructive technical setup, with the stock holding above the key Rs 4,700 backing zone. This level could strengthen the positive momentum and open the way towards Rs 4,940, Rs 5,050 and Rs 5,150.

Traders can maintain a bullish bias as long as the stock stays above Rs 4,700. Buying is recommended in the Rs 4,870-4,885 range.

Target: Rs 4,940, Rs 5,050, Rs 5,150

Stop-Loss: Rs 4,700

HDFC Bank | CMP: Rs 735.6

HDFC Bank is consolidating near the Rs 732-736 zone and is attempting to build upward momentum. A sustained move above Rs 736 could trigger a fresh breakout towards Rs 748 and Rs 758, with Rs 775 as the next potential level. The setup stays positive above Rs 715.

Target: Rs 748, Rs 758, Rs 775

Stop-Loss: Rs 715

Engineers India | CMP: Rs 315.65

Engineers India is maintaining a positive structure around the Rs 312-316 zone. A decisive move above this range could accelerate momentum towards Rs 324 and Rs 334, while sustained resilience may extend the move towards Rs 350 and beyond.

The bullish setup stays intact above Rs 298.

Targets: Rs 324, Rs 334, Rs 350