Trade Spotlight: How should you trade Concord Biotech, Jindal Steel, Axis Bank, Aegis Logistics, Raymond, and others on June 11?

About this update from Concord Biotech Ltd.

Equity benchmark indices ended flat after a volatile and range-bound session on June 10, while bears maintained a firm grip on market breadth. On the NSE, nearly 2,190 stocks declined against 802 advancing shares. The market is likely to witness further consolidation, with Monday's low serving as an important support level. Below are some short-term trading ideas to consider:Vatsal Bhuva, Technical Analyst at LKP SecuritiesConcord Biotech | CMP: Rs 1,330.7Concord Biotech has witnessed a falling trendline breakout on the daily chart, indicating a positive shift in its short-term price structure. Adding to the strength, the stock has closed above its 20-week SMA and continues to sustain above its key 20-day and 50-day moving averages on the daily timeframe.Momentum indicators remain supportive, with the RSI making higher highs and higher lows while trading in a bullish crossover. Based on the current technical setup, the stock is expected to extend its upmove towards the Rs 1,380–1,385 zone, where its 50-week SMA is placed and is likely to act as the next resistance level.Strategy: BuyTarget: Rs 1,385Stop-Loss: Rs 1,285Bank of Maharashtra | CMP: Rs 84.18After delivering a rounding pattern breakout, Bank of Maharashtra entered a healthy consolidation phase at higher levels, indicating profit booking without disrupting the broader uptrend. In recent sessions, the stock has broken above its consolidation range, signalling renewed buying interest.Further supporting the bullish outlook, the RSI has formed a hidden bullish divergence and moved into a bullish crossover, indicating a continuation of the prevailing trend after a brief pause.The stock is also sustaining above its key short-term and long-term moving averages, reinforcing the positive setup. Based on the current price structure, the stock is expected to extend its upmove towards the Rs 88–91 zone, where the next resistance is placed.Strategy: BuyTarget: Rs 91Stop-Loss: Rs 80Bajaj Finserv | CMP: Rs 1,664.2Bajaj Finserv continues to exhibit a bearish price structure on the daily chart, characterised by a clear lower-top and lower-bottom formation. In recent sessions, the stock has witnessed a breakdown below its consolidation zone, indicating renewed selling pressure and a continuation of the prevailing downtrend.Adding to the weakness, the stock is trading below its key 20-day and 50-day moving averages...

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