Stocks to Buy or Sell for Short Term: Religare Broking's Ajit Mishra Suggests Strategies for 3 Shares

Why It Matters

Mishra’s technical calls give traders concrete entry‑exit points amid volatile Indian equity markets, potentially enhancing short‑term returns while mitigating downside risk.

Key Takeaways

• RBL Bank breakout suggests fresh uptrend, target $4.5
• Sun Pharma shows reversal signs, target $24
• Tata Motors PV futures bearish, target $3.9
• Nifty resistance 24,400–24,800; support near 23,800
• Higher crude oil pressures Indian indices, risk management needed

Pulse Analysis

India’s equity markets opened the week under pressure from a surge in crude‑oil prices, the highest since 2022, and a depreciating rupee. The Nifty 50 closed 0.74% lower at 23,997, while the Sensex fell half a percent, reflecting heightened sensitivity to global cues and foreign institutional outflows. Despite the short‑term dip, the index remains up 7% month‑to‑date after four months of decline, suggesting underlying resilience that traders can exploit with disciplined risk controls.

Against this backdrop, Religare Broking’s Ajit Mishra highlighted three stocks poised for short‑term moves. RBL Bank has broken out of a six‑month consolidation, with volume confirming the bullish momentum; Mishra sets a target of ₹370 (about $4.5) and a stop at ₹320. Sun Pharma, after a year‑long correction, is showing early reversal signs, targeting ₹1,980 (≈$24) with a stop at ₹1,720. Conversely, Tata Motors Passenger Vehicles remains in a lower‑top‑lower‑bottom pattern, prompting a sell‑futures recommendation and a target of ₹322 (≈$3.9). These calls blend classic chart patterns with current market dynamics, offering clear price objectives for active traders.

For investors, Mishra’s analysis underscores the importance of sector‑specific opportunities when broader indices wobble. The identified Nifty resistance zone of 24,400‑24,800 and support near 23,800 provides a macro framework, while the individual stock targets deliver actionable entry points. By aligning technical signals with macro trends—such as oil‑driven inflation pressures—traders can better navigate volatility, preserve capital, and capture upside in a market that is poised to rebound if key support holds.