Stocks to buy for the short term: The Indian stock market benchmarks, the Sensex and the Nifty 50, ended flat on Thursday due to profit booking ahead of the Bihar election outcome. The Nifty 50 ended at 25,879, getting closer to the psychologically important 26,000 mark.

The index has been in the green this week after two consecutive weeks of losses. If the Bihar election results turn out on expected lines, the market may extend gains further. However, a result contrary to expectations may trigger short-term volatility in the market.

According to Ajit Mishra, SVP of research at Religare Broking, some consolidation cannot be ruled out after the recent rally, as the Nifty 50 has approached the 26,000–26,100 resistance zone, coinciding with its previous swing high.

However, the overall undertone remains constructive, supported by resilience in key sectors such as banking and IT.

“Traders are advised to adopt a stock-specific approach, focusing on sectoral outperformers like banking, auto, and metals, while maintaining a disciplined risk management strategy amid potential volatility,” said Mishra.

Stock picks for the short term

Mishra suggests buying the following three stocks for the next one to two weeks as he sees a favourable technical setup for them.

Adani Ports and Special Economic Zone | Buy | Target price: ₹1,620 | Stop loss: ₹1,430

Mishra pointed out that Adani Ports is exhibiting a strong bullish structure, with the price decisively breaching its multi-month resistance zone on the back of robust volumes.

This breakout from a volatility contraction pattern (VCP) suggests the beginning of a potential expansion phase following a period of consolidation.

The stock is now trading convincingly above its short- to long-term EMAs across multiple timeframes — a significant bullish signal indicating a positive shift in long-term sentiment.

“The recent swing low near ₹1,430, coinciding with the 20-day EMA, will act as a crucial intermediate support. On the upside, the stock appears poised to retest its all-time high in the near term,” said Mishra.

Bharat Forge | Buy | Target price: ₹1,520 | Stop loss: ₹1,320

As per Mishra, Bharat Forge is displaying strong bullish momentum, as the price has broken above its previous swing high with increasing volumes.

The stock’s position above the key exponential moving averages (50, 100, and 200 EMA) underscores its sustained strength and positive bias.

The formation of higher lows, along with a sharp recent upswing, highlights persistent buying interest and reinforces the prevailing bullish sentiment.

“Traders may consider accumulating the stock within the identified range to benefit from the ongoing upward momentum,” said Mishra.

ICICI Prudential Life Insurance Company | Buy | Target price: ₹670 | Stoploss: ₹609

Mishra underscored that there seems to be some rotational buying within the life insurance space, and ICICI Prudential Life Insurance has emerged as a notable participant.

After a prolonged consolidation phase, the stock is now showing renewed buying interest, supported by healthy volumes.

It has broken out of a base formation near its trendline support and reclaimed its 200-day EMA — signalling a potential trend reversal from downtrend to uptrend.

“With momentum gradually strengthening, a sustained move above the breakout zone could pave the way for an upside towards ₹665– ₹670, offering a favourable opportunity for accumulation,” said Mishra.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert, 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.