Trade Watch: Key Analysis Points for Indus Towers, NMDC, Max Healthcare, BSE, KEI Industries, and Related Stocks on May 15

Market Extends Gains, Traders Eye Further Uptrend

Equity benchmarks rose more than 1 percent on May 14, extending follow-up buying for the second consecutive session. Market breadth remained neutral, with 1,491 shares advancing against 1,459 declining shares on the NSE. However, the market needs to reclaim and sustain above short-term moving average levels for a further uptrend.

Trading Ideas

Several stocks have shown promising technical setups, indicating a potential uptrend. Here are some short-term trading ideas to consider:

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Indus Towers

Indus Towers has given a decisive breakout above the range in which it had been consolidating for the past 20 sessions, along with a breakout above the descending channel. The stock has formed a strong base near the 200-day EMA. On the daily chart, both momentum and trend indicators have turned positive, supporting a bullish bias. The price is now trading above all key EMAs, indicating inherent strength.

Stop-Loss: Rs 389

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Alkem Laboratories

Alkem Laboratories has been trading in a long-term triangular consolidation pattern on the weekly chart, where momentum indicators are already in bullish territory. On the daily chart, the price is building a solid base, with volumes picking up in recent sessions. Momentum and trend indicators are in bullish territory and trending upward. More bullish momentum is expected once the stock breaks above Rs 5,710.

Stop-Loss: Rs 5,290

Indgene

Indgene broke out above a descending wedge pattern on May 4. Since then, the stock has been consolidating and recently retested the breakout zone successfully. The initial breakout was supported by very strong volumes. The price is now trading comfortably above all key EMAs, with upward-sloping averages. Both momentum and trend indicators are in bullish territory, supporting continuation of the upmove.

Stop-Loss: Rs 496

NMDC

NMDC has broken out above the Rs 91–92 resistance band, which had capped the stock on multiple occasions. The current session marks a strong continuation of that move, with the stock hitting fresh highs near Rs 93. The breakout is backed by volumes running well above the recent average. The stock is trading comfortably above the 20-day SMA and has resumed its upward trajectory.

Stop-Loss: Rs 88

Max Healthcare Institute

Max Healthcare has reversed sharply after forming a well-defined triple-bottom pattern near the Rs 940 zone on the daily chart. The subsequent recovery has been strong, with the stock reclaiming the Rs 1,030 level and now holding comfortably above it. The open and low remained at the same level, indicating that the stock moved higher right from the beginning of the session without any intraday weakness.

Stop-Loss: Rs 1,020

KEI Industries

KEI Industries is showing renewed strength after witnessing a corrective phase, followed by accumulation near lower levels and a strong rebound from the 200-day EMA support zone. Currently trading around Rs 5,144, the stock is sustaining above its rising 20-day EMA, indicating continuation of positive momentum.

Stop-Loss: Rs 4,940

BSE

BSE is exhibiting a strong technical structure, supported by a consistent higher high–higher low formation that reflects sustained bullish momentum. Currently trading around Rs 4,037, the stock has broken above its recent swing high and delivered a strong bullish-bodied candle close, signalling continuation of upward strength.

Stop-Loss: Rs 3,830

Hindalco Industries

Hindalco Industries continues to display a strong bullish structure after breaking above its previous swing high with a strong closing confirmation. The stock recently formed a higher low and rebounded sharply from its rising 20-day EMA, indicating strong accumulation and sustained buying interest near support levels.

Stop-Loss: Rs 1,050