Trade Spotlight: How should you trade Concord Biotech, Max Healthcare Institute, Laurus Labs, Bank of Maharashtra, Castrol India, and others on May 5?

About this update from Concord Biotech Ltd.

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 RathiCastrol India | CMP: Rs 185.79Castrol 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: BuyTarget: Rs 214Stop-Loss: Rs 166Concord Biotech | CMP: Rs 1,195.2Concord 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: BuyTarget: Rs 1,380Stop-Loss: Rs 1,070Intellect Design Arena | CMP: Rs 737.35Intellect 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...

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