Shares to buy for short-term: From IndiGo, IREDA to Vedanta — experts suggest 6 stocks to buy for next 2-3 weeks

Shares to buy for short-term: After four consecutive sessions of healthy gains, the Indian stock market witnessed some signs of profit booking on Tuesday, June 10, amid mixed global cues. The benchmark index Nifty 50 opened at 25,196.05 against its previous close of 25,103.20 and touched an intraday high and low of 25,199.30 and 25,055.45, respectively.

Experts believe 25,000 is the index's key support level. As long as it trades above this level, it can rise to 25,400 to 25,500.

"We believe that 25,000 would serve as a significant support zone for trend-following traders. As long as the market remains above this level, the uptrend is likely to continue. On the upside, the index could move up to the range of 25,400 to 25,500. Conversely, falling below 25,000 would send the market towards 24,900 or 24,850 levels," said Shrikant Chouhan, Head Equity Research, Kotak Securities.

Experts suggest that at this juncture, investors should focus on stocks with strong fundamentals and favourable technical indicators.

Shares to buy for the short term

Expert: Vishnu Kant Upadhyay, AVP - Research & Advisory, Master Capital Services

InterGlobe Aviation (IndiGo) | Previous close: ₹5,695 | Target price: ₹6,180 | Stop loss: ₹5,355

InterGlobe Aviation (IndiGo) has delivered a strong bullish breakout above the ascending triangle pattern on the daily chart, suggesting the continuation of its uptrend.

The stock has surged above the resistance zone near ₹5,500 with healthy volumes, confirming breakout strength.

The 34-day EMA is rising and providing dynamic support, while the 200-day EMA remains in a long-term uptrend.

RSI stands at 66, indicating strong momentum yet staying below overbought territory. Additionally, the MACD has given a bullish crossover, reinforcing upward bias.

IREDA | Previous close: ₹183.24 | Target price: ₹205 | Stop loss: ₹169

IREDA has witnessed a bullish breakout from a falling trendline resistance, signalling a potential reversal from its medium-term downtrend.

The breakout is accompanied by a significant surge in volume, which confirms strong buying interest and enhances the move's credibility.

Price action suggests the stock has established a higher-high, higher-low formation, indicating the initiation of a fresh uptrend.

Importantly, prices have crossed above the 200-day EMA, a key long-term support-resistance level, which further bolsters the bullish sentiment.

Vedanta | Previous close: ₹457.90 | Target price: ₹502 | Stop loss: ₹426

Vedanta has confirmed a breakout above the falling trendline resistance, supported by a higher highs and higher lows formation, signalling a bullish reversal.

The stock is trading above its key 34-day and 200-day EMAs, reinforcing strong upward momentum.

RSI stands at 64, suggesting rising strength without being overbought, while MACD has given a bullish crossover above the signal line, indicating fresh buying interest.

The breakout with supportive volume and price action above all key moving averages points toward potential upside towards 502.

Expert: Hardik Matalia, Derivative Analyst, Choice Broking

The Ramco Cements | Previous close: ₹1,039.15 | Target prices: ₹1,130 and ₹1,150 | Stop loss: ₹985

Ramco Cements continues to follow a strong uptrend, consistently forming higher highs and higher lows over the past few months.

After a solid rebound from lower levels, the stock entered a brief consolidation phase, which it has now decisively broken out of. This was supported by a notable surge in trading volumes, which indicates strong buying interest.

The RSI stands at 69.53 and is trending upward, suggesting continued bullish momentum without being in extreme overbought territory.

Ramco Cements is now trading comfortably above its short-term and medium-term EMAs, reinforcing the strength of the current trend. This alignment of price and momentum supports a bullish view going forward.

"Traders can consider buying at current levels, with a stop-loss placed at ₹985. On the upside, the stock has the potential to move toward the target range of ₹1,130– ₹1,150 in the near term, offering a favourable risk-reward setup," said Matalia.

Amber Enterprises India | Previous close: ₹6,638 | Target prices: ₹7,320 and ₹7,350 | Stop loss: ₹6,300

Amber Enterprises, after witnessing a decline from higher levels, is now forming a falling trendline pattern.

The stock is currently hovering near this formation's breakout zone, and consistent trading volumes indicate growing participation.

The RSI stands at 58.26 and has recently shown a positive crossover, signalling a potential shift in momentum toward the bullish side.

“A sustainable breakout above this trendline could trigger a fresh upward move in the stock,” said Matalia.

Amber Enterprises is trading comfortably above all its key moving averages — including short-term, medium-term, and long-term EMAs — which further reinforces the positive setup. This alignment suggests underlying strength despite recent corrective moves.

"Traders can consider initiating fresh long positions at the current price of ₹6,638, with a stop-loss placed at ₹6,300. On a successful breakout, the stock may move toward the upside target range of ₹7,320– ₹7,350 in the near term," said Matalia.

Mahanagar Gas (MGL) | Previous close: ₹1,416.30 | Target prices: ₹1,540 and ₹1,560 | Stop loss: ₹1,340

MGL has been consolidating within a broad trading range over the past few months.

However, the stock has recently formed a strong Bullish Engulfing candle on the daily timeframe, accompanied by a surge in volumes, signalling a potential shift in momentum.

This price action suggests that buyers are stepping in with strength. The RSI stands at 60.62, trending upwards with a recent positive crossover, further supporting the bullish sentiment.

"A sustained breakout above the ₹1,435 level would confirm the end of the consolidation phase and open the door for a fresh upward move. With the stock holding above key moving averages and volume backing the breakout setup, the outlook remains favourable," said Matalia.

"Traders may consider buying MGL at the current price, with a stop-loss placed at ₹1,340. On the upside, the stock could potentially rally toward the ₹1,540– ₹1,560 range in the near term," said Matalia.

Read all market-related news here

Read more stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of 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.