Stocks to buy for short term: Mphasis, Asian Paints among 6 stocks experts recommend buying today for next 1-2 weeks

Stocks to buy for the short term: Frontline indices, the Sensex and the Nifty 50, declined up to half a per cent in morning trade on Tuesday, 11 August, amid persistent uncertainty over a peace deal between the US and Iran and the reopening of the Strait of Hormuz.

The Nifty 50 remains in the consolidation phase for six consecutive sessions, oscillating within the 24,500-24,700 range.

On Tuesday morning, the index declined below 24,500- an important short-term support where repeated buying interest was seen.

According to Vishnu Kant Upadhyay of Master Capital Services, going forward, 24,400-24,500 remains a crucial support zone, while 24,650-24,700 is likely to act as immediate resistance on the upside.

Stock picks for the short term

Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Broking recommend the following six stocks to buy for the next 1-2 weeks.

Expert view: Vishnu Kant Upadhyay, AVP- Research at Master Capital Services

Mphasis | Previous close: ₹2,508 | Target prices: ₹2,680 and ₹2,724 | Stop loss: ₹2,340

As per Upadhyay, Mphasis shares have witnessed a strong trend reversal following a prolonged corrective phase, with a decisive breakout from a symmetrical triangle pattern indicating a shift in short-term momentum.

The price structure has improved significantly, marked by a sustained formation of higher highs and higher lows.

The 21 EMA crossing above the 100 EMA further confirms strengthening momentum, while the stock continues to trade above its major moving averages, signalling broad-based trend improvement.

"RSI at 60 remains supportive and indicates further room for momentum expansion. Overall, the technical setup remains positive, favouring continued upside in the near term," said Upadhyay.

Poly Medicure | Previous close: ₹1,772.40 | Target prices: ₹1,900 and ₹1,950 | Stop loss: ₹1,665

Upadhyay pointed out that Poly Medicure's share price is exhibiting signs of a potential trend reversal following a prolonged downtrend, with a decisive breakout above the ₹1,700 resistance zone, accompanied by a sharp surge in volumes, validating the breakout.

The stock had previously attempted to reclaim this level but faced selling pressure; however, the recent breakout has resulted in a higher high and higher low formation, signalling a meaningful improvement in price structure.

"The stock has also reclaimed its key moving averages, reinforcing the bullish setup. Sustained price action above 1,700 is likely to strengthen the reversal and support further upside in the near term," said Upadhyay.

Syrma SGS Technology | Previous close: ₹1,516.40 | Target prices: ₹1,645 and ₹1,680 | Stop loss: ₹1,405

Upadhyay highlighted that Syrma SGS Technology shares continued to extend their winning streak, breaking above the horizontal resistance area, characterised by a sustained sequence of higher highs and higher lows.

Corrective declines have consistently attracted buying interest around the 21 and 50 EMAs, highlighting strong demand at key dynamic support levels.

Moreover, breakouts have been validated by healthy volume expansion, while subsequent pullbacks have occurred on relatively lower volumes, indicating limited distribution.

"The stock continues to trade well above its major moving averages, reinforcing the prevailing uptrend and positive momentum," said Upadhyay.

Expert: Hitesh Tailor, Technical Research Analyst at Choice Broking

Asian Paints | Previous close: ₹2,750 | Target price: ₹3,000 | Stop loss: ₹2,600

As per Tailor, Asian Paints' share price is demonstrating a strong bullish market structure, forming a series of higher highs and higher lows on the daily chart.

The stock is comfortably trading above its key exponential moving averages—the 20, 50, 100, and 200 EMAs—confirming robust upward momentum and strong trend alignment.

The RSI (14) stands at 55.33, holding comfortably above the 50 level, indicating sustained buying strength.

"Based on this continuous bullish chart setup, traders can look for further upside. Maintain a stop loss at ₹2,600 for an upside target of ₹3,000," said Tailor.

Healthcare Global Enterprises (HCG) | Previous close: ₹715.65 | Target price: ₹780 | Stop loss: ₹675

Tailor pointed out that Healthcare Global Enterprises' share price is exhibiting strong bullish momentum following a sharp range breakout on the daily chart.

The stock is trading comfortably above all major moving averages, including its 20, 50, 100, and 200 EMAs, which are stacked positively to confirm an underlying uptrend.

Meanwhile, the RSI has surged to 71.56, reflecting powerful buying interest and expanding bullish strength.

"Backed by solid volume growth and a strong continuation pattern, the technical structure favours further upside potential. One can maintain a strict stop loss at ₹675 for a projected target of ₹780," said Tailor.

Gujarat Mineral Development Corporation (GMDC) | Previous close: ₹603.15 | Target price: ₹650 | Stop loss: ₹575

As per Tailor, the Gujarat Mineral Development Corporation (GMDC) share price has delivered a sharp trendline breakout on the daily timeframe, signalling a potential reversal from its prior corrective phase.

The price action has reclaimed crucial moving averages, closing above its 20, 50, 100, and 200 EMAs to re-establish dynamic short-term support.

Concurrently, the RSI (14) has edged up to 57.59, crossing above the midline to indicate improving bullish momentum and active buyers returning to the stock.

"With volume picking up alongside this structural breakout, further gains appear likely. Keep a stop loss at ₹575 targeting an upside level of ₹650," said Tailor.

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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.