Kotak Securities Analyst Amol Athawale Recommends Three Short-Term Stock Picks

Indian Stock Market Plunges After Trump's Address to the Nation

The Indian stock market suffered sharp losses in morning trade on Thursday, a day after clocking healthy gains. The sharp decline was triggered by US President Donald Trump's address to the nation on the Iran war. Trump stated that US military operations may end in Iran in the next two to three weeks, but did not provide a definite date. He also mentioned that the US military will continue its aggression against Iran for the next two to three weeks.

The Sensex and the Nifty 50 crashed more than 2% in early deals, with the Nifty 50 hitting an intraday low of 22,182. This broke the important support at 22,200. Amol Athawale, VP - Technical Research at Kotak Securities, noted that the current market is volatile and non-directional, recommending level-based trading as the ideal strategy for traders.

Short-Term Stock Picks

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Given the current market volatility, here are three short-term stock picks with potential for growth:

According to Athawale, Swiggy shares have been in a prolonged downtrend and are now in oversold territory. The chart pattern and RSI indicator suggest a high probability of a rebound and the start of a fresh upward move from lower levels. For positional traders, ₹260 is a key level to watch, with sustaining above this level potentially leading to a continued uptrend toward ₹290.

JSW Steel's share price has entered an accumulation phase, moving within a defined range on the daily chart. Recent bullish activity suggests improving strength and rising buying interest, with a breakout from the range appearing likely in the near term. For traders, the key level to monitor is ₹1,100, which acts as immediate support.

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TVS Motor Company shares have reversed from a key support zone and formed a rounding bottom pattern on the daily chart, indicating a steady upward move. The RSI indicator also signals continued strength, suggesting further upside momentum in the near term. As long as the stock remains above ₹3,320, the bullish trend is expected to stay intact, with sustaining above this level potentially driving the stock higher toward ₹3,680.