Stocks to buy for short term: from swiggy to biocon – jigar patel of anand rathi sugges 3 stock picks

Stocks to buy for the short term: Frontline indices, the sensex and the nifty 50, ended lower last week on Profit Booking AMID Heightened Tensions Between Israel and Iran, Persisting CONCERNS Over us tarifs and stretched Valuations.

The Indian Stock Market May Remain Votile This Week, Tracking News Flows Surrounding Israel and Iran and Ahead of the US Fed Policy Decision on June 18.

On the technical front, the nifty 50 is now below 24,750, and experts see key support for the index at 24,450.

“The Index Ended Last Week With Over A 1 per cent loss. Notable, The Reversal Occurred Precisely Near The 161.8 per cent gold Golden Ratio Extension, Reinforcing it as a Strong Residence Could Extend the Fall Toward 24,000, “said Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers.

“Traders are advised to stay cautious, Avoid aggressive longs, and use reliable rallies to lighteen positions unless fresh momentum emerges. 25,200–25,300, is the key resistance zone, while 24,450–24,000 is the key support, “Patel said.

Stock picks for the short term

Jigar Patel recommends buying shares of swiggy, biocon and route mobile for the next two to three weeks.

Swiggy | Previous close: 354.35 | Target price: 390 | Stop Loss: 330

Swiggy recently broke out of a Falling Channel and Touched 376, Indicating Bulish Momentum.

Over the past five sessions, it has seen mill correction but found support at the monthly R3 Camarilla Pivot.

Notably, the stock had consolidated between r3 and S3 Pivots from March to May, A Setup that often Precedes Strong Directional Moves.

This Technical Structure Suggessts Potential for Further UPSIDED.

“Consider long positions in the 355–345 zone, targeting 390. MainTain a Stop Loss at 330 on a daily closing Basis, “said patel.

Biocon | Previous close: 355.45 | Target price: 390 | Stop Loss: 335

Biocon recently broke out of a consolidation zone between 330–345 and is now trading well above it, Signalling renewed strength.

On the monthly floor Pivot, an inside value relationship between May and June (R1 -S1) sugges potential for an explosive move.

The breakout was supported by a volume surge and a breach of the short-term Falling Trendline, Reinforcing Bulish Sentiment.

Additional, RSI Held Steady in the 40–50 range during consolidation and now hovers Around 65.

“Go long in the 356–350 range, targeting 390. MainTain a Stop Loss at 335 on a daily closing Basis, “Patel Said.

Route Mobile | Previous close: 1,085.70 | Target price: 1,220 | Stop Loss: 1,000

Recently, Route Mobile Broke out after Nearly a month of consolidation, Accompanied by a significant surge in volume, indicating strong accumulation.

What makes this consolidation phase notable is that R3 – S3 zone of the monthly Camarilla Pivots, Establishing an Inside Value Relationship.

This setup forms when the current month’s Pivots are nested within the Previous Month’s Range, often Signalling a Potential Breakout with Strong Directional Bias.

Adding to the bulish case, the daily rsi has consistent help above the 60 level and is now positioned at 71, reflecting strengthening Momentum.

“We recommend a boying options in the 1,090-1,060 zone, with a target price of 1,220. MainTain a Stop Loss at 1,000 on a daily closing Basis, “said patel.

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Disclaimer: This story is for educational purposes only. The views and recommendations about individual analysts or broking companies, not mint. We Advise Investors to Check With Certified Experts Before Making Any Investment Decisions, As Market Conditions Can Change Rapidly, and Circumstances May Vary.