New Delhi, July 8 -- Stocks to buy for the short term: The stock market benchmark Nifty 50 has started July on a strong note amid positive global cues, the revival of the monsoon, the appreciation of the rupee, and a sharp decline in oil prices over the last few weeks.

Nifty 50, on the monthly chart, has resumed its higher high formation after last month's high wave candle. The index, however, is witnessing some profit booking. It dropped to levels near 24,200 during the session.

Pabitro Mukherjee, Deputy Vice President - Technical, Bajaj Broking, expects the index to maintain a positive bias and head towards 24,800, which is the trendline resistance joining the previous major breakdown area. A breakout above 24,800 can open further ups...