Stocks to buy for short term: SCI, CDSL, Torrent Power among 6 shares experts recommend for next 2-3 weeks

Stocks to buy for short term: The Indian stock market has seen healthy gains in October so far, as India’s strong macroeconomic outlook appears to have prompted investors to buy stocks following the recent correction. The Nifty 50 is up 2.5 per cent in October amid focus on Q2 earnings trends and global developments.

On Monday, October 14, the Nifty 50 ended lower by 0.23 per cent due to profit booking amid weak global cues following US President Donald Trump's announcement of a 100 per cent tariff on Chinese products.

"Tariff escalation concerns after the US President’s statement on the possibility of imposing an additional 100 per cent duty on Chinese goods triggered risk aversion across global equities, which in turn dampened domestic sentiment," said Ajit Mishra, the SVP of research at Religare Broking.

Mishra suggests maintaining a positive bias as long as the Nifty holds above the 25,000 mark, and adopting a strategy of buying quality stocks on dips rather than taking aggressive leveraged positions.

The market is expected to see stock-specific action amid the ongoing Q2 results season. Experts suggest focusing on stocks with sound fundamentals and strong technical indicators.

Stock picks for short term

Vishnu Kant Upadhyay of Master Capital Services and Hardik Matalia of Choice Equity Broking recommend six stocks to buy for the next 2-3 weeks. Take a look:

Expert: Vishnu Kant Upadhyay, Assistant Vice President – Research and Advisory at Master Capital Services

Godrej Agrovet | Buy at ₹670 | Target prices: ₹720 and ₹750 | Stop loss: ₹630

Upadhyay underscored that Godrej Agrovet has shown a strong rebound after taking support near its previous horizontal support zone around ₹650, indicating renewed buying interest at lower levels.

The formation of a bullish candle on the daily chart suggests a potential short-term bottom.

"With improving momentum and a recovery from oversold conditions, follow-up buying could drive the stock higher toward its immediate resistance levels, confirming a reversal setup in the near term," said Upadhyay.

Motherson Sumi Wiring India | Buy at ₹45 | Target prices: ₹49 and ₹51 | Stop loss: ₹42.50

According to Upadhyay, Motherson Sumi Wiring India (MSUMI) has successfully retested its previous breakout level, reaffirming it as a strong support zone.

The stock has rebounded from this area, indicating renewed buying momentum and continuation of the broader uptrend.

Price action remains above key moving averages, reflecting underlying strength, while volume activity supports accumulation at lower levels.

"Sustained trade above 45 could pave the way for further upside towards 47-48 in the near term," Upadhyay said.

PCBL Chemical | Buy at ₹382 | Target prices: ₹420 and ₹435 | Stop loss: ₹368

Upadhyay pointed out that PCBL is consolidating in a narrow range between ₹370 and ₹390, which coincides with the confluence of key moving averages, indicating a strong base formation.

"This zone reflects accumulation and steady support. A decisive breakout above ₹393 would confirm bullish momentum and signal the start of the next leg of the uptrend," said Upadhyay.

"A volume-backed move beyond this level could attract fresh buying interest, reinforcing the positive outlook for the stock in the near term," Upadhyay said.

Expert: Hardik Matalia, Derivative Analyst, Choice Broking

Torrent Power | Buy at ₹1,283.60 | Target prices: ₹1,375 and ₹1,400 | Stop loss: ₹1,235

Matalia pointed out that Torrent Power has formed a strong bullish candle, confirming a breakout from a falling wedge pattern on the daily chart — a bullish reversal setup that often indicates the start of a fresh upward trend.

The breakout is well-supported by rising trading volumes, adding conviction to the move.

The RSI, currently at 57.17, has exhibited a bullish divergence and is breaking above its recent highs with an upward trend, indicating strengthening momentum.

Torrent Power has rebounded smartly from lower levels and has successfully moved above its short-term and medium-term EMAs, paving the way for a potential approach toward its long-term EMA.

"If the stock manages to sustain above the breakout zone, further upside momentum can be expected. Traders can consider buying around ₹1,283.60 with a stop loss at ₹1,235 for an upside target of ₹1,375– ₹1,400," said Matalia.

Shipping Corporation Of India (SCI) | Buy at ₹230.16 | Target prices: ₹250 and ₹260 | Stop loss: ₹218.50

According to Matalia, SCI has recently given a strong breakout from a descending triangle pattern on the daily chart, signalling a shift in trend towards bullish momentum.

After the breakout, the stock successfully retested the breakout zone and has now reversed with a strong bullish engulfing candle, confirming a continuation of the uptrend.

The RSI, currently at 59.74, shows a positive crossover with an upward slope, indicating strengthening momentum.

SCI has been receiving consistent support from its short-term and medium-term EMAs and is trading comfortably above all key moving averages, reinforcing the bullish structure.

"If the stock sustains above the ₹235 level, it could witness further upside movement in the coming sessions. Traders can consider buying around ₹230.16 with a stop loss at ₹218.50 for an upside target of ₹250– ₹260," said Matalia.

Central Depository Services (CDSL) | Buy at ₹1,619.40 | Target prices: ₹1,750 and ₹1,780 | Stop loss: ₹1,550

Matalia pointed out that CDSL has witnessed steady buying interest over the past few sessions.

On the daily chart, the stock is forming an ascending triangle pattern — a bullish continuation setup that signals the potential for an upward breakout.

The formation is supported by consistent trading volumes, indicating accumulation at lower levels.

The RSI, currently at 63.82, is trending upward, indicating a strengthening of bullish sentiment.

CDSL continues to trade comfortably above all its key moving averages, reinforcing the positive structure.

"A sustained move above ₹1,630 would confirm the breakout and open the door for further upside momentum. Traders can consider buying around ₹1,619.40 with a stop loss at ₹1,550 for an upside target of ₹1,750– ₹1,780," said Matalia.

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Disclaimer: This story is for educational purposes only. 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.