Stocks to buy for short term: MRPL to Havells— Jigar Patel of Anand Rathi recommends 3 stock picks; do you own any?
The Nifty 50 ended with a mild gain of 0.22 per cent at 25,461 on Friday, July 4. However, the index fell by almost 1 per cent on a weekly basis.
Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, underscored that while the Nifty breached 25,300, it is yet to convincingly hold above 25,600.
"The breakout is technically intact, but sustained trade above 25,600 is necessary for a potential rally toward 25,800–26,000," said Patel.
On the other hand, Patel believes if the index breaks below 25,250 on the downside, it would invalidate the breakout and could trigger a corrective move, potentially trapping bulls.
"The upcoming sessions are key to confirming follow-through. While the undertone has turned positive, markets remain vulnerable to quick shifts. Traders are advised to stay stock-specific, keep positions light, and maintain strict stop-loss discipline," said Patel.
Jigar Patel recommends buying shares of MRPL, Havells and Vijaya Diagnostic Centre for the next two to three weeks.
MRPL has recently established a strong base in the ₹ 135–140 zone, aligning with its previous breakout area from June 2022. This highlights a potential long-term demand zone.
The daily Camarilla monthly pivot chart indicates an inside value relationship, reflecting healthy consolidation within a bullish structure.
Adding to the strength, the daily RSI remains comfortably above 60, and rising volumes during the breakout further validate the upward momentum.
"Considering this constructive setup, long positions are recommended in the ₹ 151–148 zone, aiming for an upside target of ₹ 170. A stop loss should be placed below ₹ 138 on a daily closing basis," said Patel. MRPL
Havells has recently formed a strong base around the ₹ 1,500 level, indicating solid support at lower levels.
Notably, the stock has broken above a descending trendline, signalling a potential shift in trend.
It is also sustaining above mentioned trendline, further strengthening the bullish setup.
Adding to this positive structure, a hidden bullish divergence is visible on the daily RSI chart, suggesting underlying momentum is building despite recent consolidation.
This confluence of technical signals makes Havells an attractive buy candidate at current levels.
"We recommend going long in the ₹ 1,580– ₹ 1,570 zone, with an upside target of ₹ 1,750. A stop loss should be placed below ₹ 1,500 on a daily closing basis to manage risk effectively," said Patel. Havells India
Vijaya has been consolidating within the ₹ 900–1,000 range for the past two months.
In the previous session, it finally broke out of this range and closed decisively above it, indicating a potential trend shift.
Supporting this move, the daily Camarilla monthly pivot chart shows an overlapping higher-value relationship, reinforcing the bullish structure.
Additionally, the daily RSI is comfortably placed above the 60 mark, lending further strength to the positive outlook.
"Given this setup, we recommend initiating long positions in the ₹ 1,010–1,020 zone, targeting an upside towards ₹ 1,125. A stop loss should be placed below ₹ 960 on a daily closing basis," said Patel. Vijaya Diagnostic Centre technical chart
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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