Market Analysis: Earnings and Economic Data Influence Stock Trading Strategies for Dabur, Max Financial Services, Anthem Biosciences, Biocon, HDFC Bank and Other Companies on May 13.

Market Trends: Bears Dominate for Fourth Straight Session

Equity benchmarks declined nearly 2 percent on May 12, marking the fourth consecutive session of bearish trading. A total of 2,570 shares were dragged down by bears, while 417 shares witnessed buying interest. Technical indicators suggest that the market is consolidating and trading in a range-bound manner following the recent sharp fall.

Trading Ideas for Short-Term Market Participants

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Key Trades

• Max Financial Services: The stock has shown a robust rally from lower levels and is forming an ascending triangle chart formation on the daily scale. Traders are advised to buy the stock at its current price with a target of Rs 1,780 and a stop-loss at Rs 1,605.
• Sun Pharmaceutical Industries: The stock has given a range breakout move in recent sessions and is likely to continue its bullish momentum. Traders are advised to buy the stock at its current price with a target of Rs 1,970 and a stop-loss at Rs 1,780.
• HDFC Bank: The stock has been in a strong downtrend and is forming lower highs and lower lows. Traders are advised to sell the stock in the futures segment on a rise towards Rs 768 with a stop-loss above Rs 785.

Market Outlook

The market is expected to continue its consolidation and trading in a range-bound manner following the recent sharp fall. Traders are advised to be cautious and wait for a clear breakout or breakdown in the coming sessions.

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