Stocks to buy for short term: Jigar Patel of Anand Rathi recommends 3 technical picks for 2-3 weeks; do you own any?

Stocks to buy for short term: Indian stock market benchmark Nifty 50 ended with a solid gain of 1.92 per cent last Friday. However, despite this stellar gains, the index extended losses to the second consecutive week due to heightened concerns over the economic impact of trade war.

For the week, the index lost 0.33 per cent. In the previous week, the index lost 2.61 per cent.

Meanwhile, the Indian stock market will remain closed on coming Monday and Friday. On Monday, the NSE and the BSE will be closed for Dr Baba Saheb Ambedkar Jayanti, while on Friday, there is a stock market holiday for Good Friday.

For the short term, Q4 earnings, news flows around the trade war, and macroeconomic prints will dictate market sentiment.

Stock picks for short-term

The Indian stock market is expected to remain volatile in the near term. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, recommends buying shares of ITC, KNR Constructions and Gujarat Ambuja for the next two to three weeks.

ITC | Previous close: ₹421.55 | Target price: ₹444 | Stop loss: ₹408

In the latest session, ITC broke above the R3 Camarilla Pivot resistance of ₹417 and closed firmly, indicating a bullish breakout after consolidating between ₹390–415.

RSI, which held near 40 during consolidation, is now above 60, reinforcing bullish momentum.

This breakout, supported by strong technical indicators, points to potential upside in the coming sessions.

"Traders may consider entering long positions in the ₹420–422 range, aiming for a target of ₹444. A stop loss should be placed below ₹408 on a daily closing basis to manage downside risk effectively," said Patel.

KNR Constructions | Previous close: ₹227.62 | Target price: ₹250 | Stop loss: ₹214

KNR Constructions has recently formed a bullish divergence on the daily chart, signalling potential upward momentum.

Additionally, an Inside Value relationship between March and April Camarilla pivots—where April’s R3 and S3 fall within March’s range—indicates price compression.

This setup often precedes a strong directional breakout. The confluence of these technical signals suggests a possible explosive move ahead.

"A long position is advised in the ₹225–228 zone, with an upside target of ₹250. A stop loss should be maintained below ₹214 on a daily closing basis to manage risk effectively," said Patel.

Gujarat Ambuja Exports | Previous close: ₹115.81 | Target price: ₹135 | Stop loss: ₹105

Gujarat Ambuja Exports recently broke out after consolidating in the ₹99–110 range, signalling renewed bullish momentum.

This consolidation occurred near the S3 yearly Camarilla pivot, a crucial support level, adding strength to the bullish setup.

Additionally, a bullish RSI divergence on the daily chart confirms potential upward movement.

"Traders may consider buying in the ₹114–116 range, with a closing-based stop loss at ₹105. The breakout backed by technical confluence suggests a strong upside potential, with targets of ₹135," said Patel.

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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.