Equity benchmarks gained half a percent on May 4 after a day of correction. Market breadth turned positive, with about 1,914 shares advancing against 1,084 declining shares on the NSE. Overall, the market is expected to remain range-bound until the previous week’s high is taken out convincingly. Below are some short-term trading ideas to consider:
Jigar S Patel, Senior Manager – Equity Research at Anand Rathi
Castrol India | CMP: Rs 185.79
Castrol India has completed a classic alternate wave price projection pattern, with the AB=CD structure highlighting symmetry in the ongoing move. This measured move aligns with the 61.8 percent internal Fibonacci retracement, reinforcing the importance of this zone as a potential reversal area.
Adding to the confluence, the external retracement near the 1.27 extension strengthens the bullish setup. Momentum indicators further validate this view, as the RSI breakout above the 50 mark indicates improving strength and positive momentum. Traders may consider entering long positions in the Rs 186–180 zone.
Strategy: Buy
Target: Rs 214
Stop-Loss: Rs 166
Concord Biotech | CMP: Rs 1,195.2
Concord Biotech has established a strong base in the Rs 1,000–1,100 zone, supported by a clear bullish divergence, indicating accumulation at lower levels. The RSI has successfully crossed above the 60 mark for the first time since August 2025, reflecting a pickup in positive momentum and a strengthening trend bias.
Additionally, the stock has closed above the Williams Alligator indicator, a key trend-following tool, suggesting a shift towards a sustained uptrend. The alignment of these technical factors points toward improving sentiment and increasing buying interest. Going forward, this setup indicates a high probability of continued bullish momentum in the near to medium term. Traders may consider entering long positions in the Rs 1,200–1,170 zone.
Strategy: Buy
Target: Rs 1,380
Stop-Loss: Rs 1,070
Intellect Design Arena | CMP: Rs 737.35
Intellect Design Arena has formed a strong base in the Rs 600–700 zone, supported by a clear bullish divergence, indicating accumulation at lower levels. The RSI has moved above the 50 mark for the first time since December 2025, signaling improving momentum and a strengthening trend.
Additionally, the stock has broken above its previous swing high, confirming a potential trend reversal and a shift towards an uptrend. The confluence of these technical factors reflects improving sentiment and rising buying interest. Going ahead, the setup suggests a high probability of sustained bullish momentum in the near to medium term. Traders may consider entering long positions in the Rs 740–720 zone.
Strategy: Buy
Target: Rs 850
Stop-Loss: Rs 660
Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities
Dalmia Bharat | CMP: Rs 1,983.3
Dalmia Bharat has undergone a long consolidation phase, within which it has formed a symmetrical triangular pattern. During this phase, it also witnessed long unwinding. Now, the overall sectoral outlook is positive, and the stock appears to have formed a solid base, as it has reversed from the lower end of the consolidation.
Since the leverage is relatively lower, there is a higher probability of a bounce-back. As per the options data, the Rs 2,000 strike has the highest Call base; therefore, above these levels, one can expect Call unwinding, which can lead to a sharp upward move. The maximum pain is at Rs 1,960, and the stock is currently trading well above it; hence, this level will also act as support. Buy Dalmia Bharat Futures in the range of Rs 1,980–2,000.
Strategy: Buy
Target: Rs 2,120, 2,180
Stop-Loss: Rs 1,920
Max Healthcare Institute | CMP: Rs 1,011.55
Overall, the Nifty Healthcare Index is looking positive from here on. It is likely to outperform the Nifty 50 in the months to come, based on its ratio chart.
Max Healthcare Institute had witnessed significant short buildup since its inclusion in the Nifty 50. However, during the recent recovery, there has been clear short covering, and the stock appears to have formed a short-term base. In anticipation of further short covering, one can expect additional upside from current levels. Buy Max Healthcare Futures in the range of Rs 1,015–1,020.
Strategy: Buy
Target: Rs 1,100, Rs 1,140
Stop-Loss: Rs 970
Force Motors | CMP: Rs 19,331
Force Motors has broken down from a long-term uptrend line support, and open interest has increased in the futures segment, indicating a clear short buildup, which is a negative sign for the stock in the near term. The stock also appears to have formed a bearish head-and-shoulders pattern, which will be negated only above Rs 20,500 levels. Therefore, there is a favourable risk-reward opportunity on the short side in the near term.
Based on options data, the Rs 20,000 strike has seen fresh Call writing, while there is a significant Call base from Rs 20,500 to Rs 23,000 strikes. This suggests limited upside and higher downside risk. The maximum pain is at the Rs 20,000 strike, and the stock is trading well below this level; hence, it will act as resistance in the near term.
Strategy: Sell
Target: Rs 18,250, 17,500
Stop-Loss: Rs 20,600
Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan
Laurus Labs | CMP: Rs 1,166.4
Laurus Labs had significant resistance around the Rs 1,140–1,145 zone in the past. However, in Monday’s trading session, the stock broke this resistance zone on a closing basis, supported by a significant surge in volumes, indicating that bulls are back in action.
The range breakout, along with rising volume, suggests the possibility of significantly higher levels in the coming days and weeks. The bullish scenario remains intact as long as the recent low of Rs 1,080 is not breached. Dips towards Rs 1,145–1,135 should be considered buying opportunities.
Strategy: Buy
Target: Rs 1,200, Rs 1,250
Stop-Loss: Rs 1,080
Coforge | CMP: Rs 1,151.6
Coforge saw a meaningful upward move from the March lows but failed to sustain above key daily averages. The stock has now slipped below these averages and has been trading below key weekly moving averages for some time.
Additionally, the stock is on the verge of breaking below the weekly swing low of Rs 1,138. A break below this level could bring bears back into action, potentially dragging the stock down to retest its previous low of Rs 1,010 in the coming sessions.
Strategy: Sell
Target: Rs 1,065, Rs 1,010
Stop-Loss: Rs 1,200
Vidnyan S Sawant, Head of Research at GEPL Capital
Kirloskar Oil Engines | CMP: Rs 1,723.6
Kirloskar Oil Engines has been exhibiting a robust bullish trend since 2022. In the current phase, the stock has shown a positive polarity shift, where the prior resistance zone (the 2024 swing high) acted as strong support during April 2026, from which the stock resumed its upward move.
The stock is trading well above its key 20-, 50-, and 100-week EMAs, indicating strong trend strength and sustained bullish alignment across higher timeframes. On the daily chart, it continues to maintain a higher high–higher low structure, reinforcing the positive near-term trend. Additionally, the MACD indicator continues to trend higher, signaling sustained bullish momentum and continuation of the prevailing uptrend.
Strategy: Buy
Target: Rs 1,870
Stop-Loss: Rs 1,660
Bank of Maharashtra | CMP: Rs 79.30
Bank of Maharashtra has exhibited a breakout above the multi-year resistance zone of the 2012 swing high on the monthly chart, indicating that the stock has entered bullish territory and signaling a strong long-term uptrend. On the weekly chart, the stock has maintained a higher high–higher low formation since the 2020 bottom, reflecting sustained structural strength.
Volume activity has risen above the 20-week average, suggesting that the breakout is supported by strong market participation and accumulation. Additionally, the MACD indicator reinforces the bullish outlook, as it continues to trend higher in positive territory, highlighting sustained upward momentum.
Strategy: Buy
Target: Rs 95
Stop-Loss: Rs 75
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.