Trade Spotlight: How should you trade Supreme Industries, Indian Hotels, Lemon Tree Hotels, Nykaa, Info Edge, and others on October 19?

Equity benchmarks extended their uptrend for another session, with the Nifty 50 rising 0.65 percent amid positive market breadth. On the NSE, 1,894 shares advanced, compared with 1,345 shares that declined. The market may attempt to extend its upward momentum, but the sustainability of the rally remains a key factor to watch, given the headwinds from elevated crude oil prices. Here are some short-term trading ideas to consider:

Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One Lemon Tree Hotels | CMP: Rs 113.42 Lemon Tree Hotels continues to find support in the Rs 100–102 band, which serves as a crucial support zone for the stock. The formation of a bullish Anchor Column from this support band, followed by a Double Top Buy signal on the daily 0.25% Point and Figure (P&F) chart, indicates strong buying interest at lower levels and a potential shift in control towards buyers.

Meanwhile, a bullish crossover of the 20-day exponential moving average (DEMA) above the 50-day DEMA points to improving momentum. Hence, buying is recommended in the Rs 113–113.50 range. Target: Rs 125, Rs 128 Supreme Industries | CMP: Rs 3,595.5 The Rs 3,200–3,290 band serves as a strong support zone for Supreme Industries, and the stock continues to attract buying interest in this range. This is supported by the formation of a bullish Anchor Column from the same zone.

Additionally, a bullish 100% Pole formation highlights strong demand at lower levels. A Turtle Breakout on the stock's daily 0.25% × 3 Point and Figure chart further indicates that short-term momentum and control may be shifting in favour of buyers. Hence, buying is recommended in the Rs 3,590–3,595 range. Target: Rs 3,870, Rs 3,880 Jatin Gedia, Technical Research Analyst, VP, Derivatives & Technical Research at Teji Mandi

FSN E-Commerce Ventures Nykaa | CMP: Rs 345 Nykaa witnessed a sharp rally from Rs 316 to Rs 346, following which the stock consolidated for nine trading sessions and formed a symmetrical triangle pattern. During the last trading session, the stock broke out of this consolidation pattern on the upside, suggesting a resumption of the next leg of the upmove towards Rs 366, which represents the 100% Fibonacci extension level of the previous wave.

Trading volumes have remained elevated, indicating greater participation in the direction of the primary trend. The Moving Average Convergence Divergence (MACD), a momentum indicator, has also generated a bullish crossover, signalling a potential buying opportunity. Indian Hotels Company | CMP: Rs 772.1 Indian Hotels has been in an uptrend. Over the past two months, the stock consolidated in the Rs 700–740 range, forming a bullish flag pattern.

According to the Elliott Wave Principle, the stock has entered its fifth wave, which could extend towards Rs 846. This level represents the equality target, where Wave Five equals Wave One in price magnitude. The breakout has been accompanied by high trading volumes, suggesting a potentially strong and genuine breakout. The momentum indicator has also generated a positive crossover, signalling a buying opportunity.

Overall, the price-volume breakout suggests that the stock could extend its positive momentum over the next few weeks. Info Edge India | CMP: Rs 1,265.1 Info Edge India had been undergoing an intermediate correction over the past two months. The stock retraced towards the 38.2% Fibonacci retracement level at Rs 1,206 before breaking out of a falling channel. This breakout suggests that the correction may have ended and that the stock could have resumed its primary uptrend, potentially offering a low-risk entry opportunity.

The momentum indicator has also generated a positive crossover from below the equilibrium line, signalling a potential buying opportunity. Vaishnavi Jagtap, Senior Research Analyst – Technical at Axis Direct Tips Music | CMP: Rs 746.9 With its latest weekly close, Tips Music has decisively broken above the multi-month resistance zone around Rs 735, accompanied by strong trading volumes. The stock is trading comfortably above its 20-day, 50-day, 100-day and 200-day simple moving averages (SMAs).

These averages are also trending upwards alongside the price, reinforcing the bullish trend. The daily and weekly Bollinger Band indicators have generated buy signals, pointing to strengthening momentum. Additionally, the RSI on the daily, weekly and monthly charts remains in favourable territory, indicating improving strength across all time frames. Target: Rs 800, Rs 840 Oriental Hotels | CMP: Rs 151.8

With its latest close, Oriental Hotels has broken above the multi-month resistance zone around Rs 149, which had capped the stock's upside over the past five months. This breakout signals a potential resurgence in bullish momentum and has been accompanied by strong trading volumes, indicating increased market participation. The stock is trading comfortably above its 20-day, 50-day, 100-day and 200-day SMAs.

These averages are also trending upwards alongside the price, reinforcing the bullish trend. The RSI on the daily, weekly and monthly charts remains in favourable territory, indicating improving strength across all time frames. Target: Rs 161, Rs 173 Texmaco Infrastructure & Holdings | CMP: Rs 128.14 Texmaco Infrastructure is trending upwards on both the daily and weekly charts, forming a series of higher tops and higher bottoms.

The latest weekly close above the two-year consolidation zone of Rs 85–120 signals strengthening bullish momentum. Rising trading volumes over the past couple of months further indicate increased market participation. The stock is trading comfortably above its 20-day, 50-day, 100-day and 200-day SMAs. These averages are also trending upwards alongside the price, reinforcing the prevailing bullish trend. Target: Rs 140, Rs 150