Top midcap stock picks for solid short-term gains: Check target prices, stop loss & upside

Select brokerage firms are turning their focus to a host of stocks showing improving price trends, strong momentum and favourable chart patterns. Using indicators such as support and resistance levels, moving averages, breakouts and trading volumes, analysts have identified stocks that could see further upside. Here are some technical stock picks that investors can watch for potential trading opportunities in the near term.

Glenmark Pharmaceuticals | Buy | Target Price: Rs 2,460-2,480 | Stop Loss: Rs 2,160
Glenmark Pharma is showing a constructive bullish setup on the daily chart with prices trading well above the rising long-term moving average and gradually forming higher highs and higher lows after a prolonged consolidation. It has witnessed accumulation near the Rs 2,180–2,200 zone and is attempting to move towards the upper end of the recent trading range, reflecting improving buying interest. Momentum is also supportive with the RSI-based indicator trending higher and currently holding around the 60 zone, indicating positive momentum without being excessively stretched. A sustained close above Rs 2,350, preferably supported by higher volume, could confirm the next leg of the uptrend. Therefore, one can accumulate the stock in the Rs 2,290–2,320 range with an expected upside of Rs 2,460–2,480 while maintaining a stop-loss below Rs 2,160. Volume expansion on the breakout would provide additional confirmation, as breakouts accompanied by stronger volume are generally considered more reliable.
Recommended by: SMC Global Securities

Swiggy | Buy | Target Price: Rs 300 | Stop Loss: Rs 270
Swiggy has been witnessing a steady improvement in price structure after a prolonged corrective phase. The stock has started forming a pattern of higher tops and higher bottoms, which is a classic indication of a potential trend reversal and signals a gradual shift in sentiment from bearish to bullish. Recent price action suggests accumulation at lower levels, while the stock continues to hold above its short-term moving averages, reflecting improving momentum. Volume activity has also remained supportive during the recent upmove, indicating participation from buyers. As long as the stock sustains above Rs 270 on a closing basis, the positive structure is expected to remain intact. Traders may consider maintaining a bullish stance with an upside target of Rs 300. On the downside, a closing below Rs 270 would negate the bullish setup and trigger the stop-loss. The favorable risk-reward profile, coupled with the emerging higher top-higher bottom formation, continues to support a constructive near-term outlook.
Recommended by: SMIFS

Punjab National Bank | Buy | Target Price: Rs 133-135 | Stop Loss: Rs 109
PNB is witnessing a strong trend reversal on the daily chart after breaking above its long-term moving average and a prolonged consolidation zone, indicating the beginning of a fresh uptrend. The price is consistently forming higher highs and higher lows, reflecting sustained buying interest. Momentum indicators remain constructive, with RSI holding above the 60 zone and trending higher, while the recent breakout was supported by an improvement in volume, adding conviction to the bullish setup. Immediate resistance is placed at Rs 120-122, with the major breakout hurdle near Rs 125. On the downside, the breakout zone at Rs 112-114 is expected to act as strong support, followed by a stronger base around Rs 108-110. A sustained close above Rs 122 could confirm the next leg of the rally and open the door for further upside. Therefore, one can accumulate the stock in the Rs 118-120 range with
an expected upside of Rs 133-135, while maintaining a stop-loss below Rs 109.
Recommended by: SMC Global Securities