Trading Strategies for Kotak Mahindra Bank, Dr Reddy's Labs, Tech Mahindra, Infosys, and GE Shipping on May 19

Market Recovery Continues, But Weak Market Breadth Remains a Concern

Equity benchmarks showed a healthy recovery from the day's low before closing slightly higher on May 18. However, market breadth remained weak, with about 2,223 shares declining against 768 advancing shares on the NSE. The market is expected to witness consolidation with range-bound trading in the upcoming sessions.

Short-Term Trading Ideas

Several stocks are showing promising technical signals, making them attractive for short-term trading. Here are some recommendations:

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Ashok Leyland

Ashok Leyland is showing signs of stability near the crucial Rs 150 support zone. The stock has formed a strong technical foundation, with the 78.6 percent Fibonacci retracement, the completion of the AB=CD pattern at 100 percent, and the 1.618 external retracement level all coinciding at this level. The MACD indicator is gradually losing downside momentum, indicating that selling pressure may be fading. Traders may consider entering long positions in the Rs 153–150 zone, with a target of Rs 165.

Kotak Mahindra Bank

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Kotak Mahindra Bank has formed a strong base near the Rs 370–380 zone, which coincides with the yearly Camarilla support and floor pivot levels. The stock is showing signs of stability after recent consolidation, while the RSI remains above the 50 mark, indicating positive momentum and improving strength. Traders may consider entering long positions in the Rs 393–390 zone, with a target of Rs 430.

Bikaji Foods International

Bikaji Foods International is witnessing stability near the crucial Rs 640–650 support zone. The stock has formed a strong technical foundation, with the 61.8 percent Fibonacci retracement level, the completion of the AB=CD pattern at 100 percent, and the 1.27 external retracement level all coinciding at this level. The MACD and DMI indicators are showing positive signals, indicating improving strength and momentum in the counter. Traders may consider entering long positions in the Rs 660–650 zone, with a target of Rs 700.

Dr Reddy's Laboratories

Dr Reddy's Laboratories has shown strong resilience over the last couple of months, with a clear uptrend in the Nifty Pharma sector. The stock has undergone significant consolidation and recently witnessed long buildup, which is a positive sign going forward. A breakout from the range appears likely, making the stock attractive from a risk-reward perspective on the long side. Traders may consider buying Dr Reddy's Laboratories Futures in the range of Rs 1,330–1,340, with a target of Rs 1,400, Rs 1,450.

Tech Mahindra

Tech Mahindra has been an outperformer in the overall IT pack, with volumes increasing over the past two trading sessions. The stock has managed to bounce back sharply in the last trading session, indicating that if there is any recovery in the Nifty IT index, then Tech Mahindra is likely to witness a short-covering move. Traders may consider buying Tech Mahindra Futures in the range of Rs 1,420–1,440, with a target of Rs 1,500, Rs 1,540.

Hyundai Motor India

Hyundai Motor India has been one of the underperformers in the auto segment, with further additions to short positions in recent sessions. The stock may break below the Rs 1,700 level and slide towards the Rs 1,670–1,600 zone. Traders may consider selling Hyundai Motor India Futures in the range of Rs 1,770–1,790, with a target of Rs 1,670, Rs 1,600.

Infosys

Infosys has completed a five-wave corrective decline within wave C on the daily chart. The stock has witnessed a rebound, supported by a bullish crossover in the daily momentum indicator along with a positive divergence. This suggests that the broader A–B–C corrective phase may have concluded, with wave C appearing truncated. Traders may consider buying Infosys in the range of Rs 1,142.5, with a target of Rs 1,195, Rs 1,215.

Bank of India

Bank of India has been consistently facing resistance at the 40-day EMA, indicating persistent selling pressure around those levels. The stock broke below both the trendline support and the 200-day SMA after encountering resistance at the 40-day EMA, signalling the start of a fresh downward move. Traders may consider selling Bank of India May Futures at CMP or on a rise towards Rs 140, with a target of Rs 130, Rs 125.

Mahindra & Mahindra

Mahindra & Mahindra is exhibiting a clear downtrend, forming lower highs and lower lows on both the daily and weekly timeframes, while trading below key moving averages. The stock broke down from a flag pattern, indicating continuation of bearish momentum. Traders may consider selling Mahindra & Mahindra May Futures at CMP or on a rise towards Rs 3,105, with a target of Rs 2,950, Rs 2,900.

Great Eastern Shipping Company

The Great Eastern Shipping Company has been witnessing a strong and sustained uptrend since October 2025, consistently maintaining a higher top–higher bottom formation on the weekly chart. The stock has continued to respect its key 20-week and 50-week Exponential Moving Averages (EMAs), highlighting the strength and sustainability of the prevailing trend. Traders may consider buying Great Eastern Shipping Company in the range of Rs 1,696.5, with a target of Rs 1,985.

Suven Life Sciences

Suven Life Sciences has formed a strong Double Bottom price pattern near the Rs 125 level on the longer-term charts, indicating the emergence of a solid demand zone and a potential trend reversal from lower levels. The stock has consistently maintained a higher high–higher low formation on the weekly chart, reflecting sustained buying interest and confirming the presence of a strong bullish undertone in the broader trend. Traders may consider buying Suven Life Sciences in the range of Rs 252.55, with a target of Rs 292.