Experts Suggest Six Stocks for Short-Term Gains, Including L&T, NTPC, and TVS Motor

Indian Stock Market Update

Market Overview The Indian stock market experienced a decline for the second consecutive session on Monday, March 9, with the Sensex crashing 1,353 points, or 1.71%, to end at 77,566, and the NSE Nifty 50 declining 422 points, or 1.73%, to close at 24,028. The indices lost 3% over two consecutive sessions due to escalating US-Iran tensions, rising crude oil prices, the rupee's fall to record lows, and heavy selling by foreign institutional investors (FIIs).

Technical Analysis The Nifty 50 is now near 24,000, close to its key support at 23,850. Breaching this level may push the index to 23,700 or lower. Market sentiment is weak, and experts recommend maintaining extreme prudence in picking stocks.

Stock Picks for the Short Term

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Larsen & Toubro (L&T)

• Previous close: ₹3,842.10
• Target prices: ₹4,100 and ₹4,200
• Stop loss: ₹3,700 L&T shares have staged a strong rebound from their previous horizontal support zone, indicating renewed buying interest at lower levels. The stock maintains a higher-high, higher-low formation, and the confluence of key support and improving price structure suggests strengthening bullish momentum.

Aurobindo Pharma

• Previous close: ₹1,247.30
• Target prices: ₹1,350 and ₹1,400
• Stop loss: ₹1,180 Aurobindo Pharma shares have delivered a bullish breakout from a symmetrical triangle pattern, supported by a notable surge in volumes. The stock is trading comfortably above its key moving averages, reinforcing the positive trend structure.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Balrampur Chini Mills

• Previous close: ₹492.60
• Target prices: ₹530 and ₹540
• Stop loss: ₹468 Balrampur Chini Mills shares have confirmed a bullish reversal after forming a base near recent lows. The stock has reclaimed all its key EMAs, signalling improving trend strength and a shift in short-term momentum.

Natco Pharma

• Previous close: ₹1,002.70
• Target price: ₹1,080
• Stop loss: ₹950 Natco Pharma shares have recently delivered a breakout from a symmetrical triangle pattern, indicating a potential continuation of the uptrend. The stock has also witnessed a bullish moving average crossover and is sustaining above key EMAs.

NTPC

• Previous close: ₹376.25
• Target price: ₹405
• Stop loss: ₹360 NTPC shares have recently delivered a wider range horizontal breakout and are sustaining above the breakout zone with support from rising moving averages, indicating a strengthening price structure.

TVS Motor Company

• Previous close: ₹3,627.80
• Target price: ₹3,950
• Stop loss: ₹3,450 TVS Motor Company shares continue to maintain a well-defined rising trend, supported by a bullish moving average crossover and rising momentum indicators.