The benchmark indices corrected sharply, with the Nifty 50 falling 1.5 percent on May 11, while market breadth remained dominated by bears. A total of 2,204 shares were under pressure compared to 782 advancing shares on the NSE. Consolidation is likely to continue in the market. Below are some short-term trading ideas to consider:

Jigar S Patel, Senior Manager - Equity Research at Anand Rathi

Narayana Hrudayalaya | CMP: Rs 1,886.4

Narayana Hrudayalaya has formed a bullish Inverse Head & Shoulders pattern on the chart, indicating the possibility of a trend reversal. The stock has successfully retested its neckline breakout zone, which adds further confirmation to the bullish setup.

Additionally, the RSI is sustaining above the 50 mark and is currently placed near 60, reflecting improving momentum and strengthening buying interest. The overall price structure suggests potential for further upside in the coming sessions. Traders may consider entering long positions in the Rs 1,890-1,850 zone.

Strategy: Buy

Target: Rs 2,100

Stop-Loss: Rs 1,750

Coal India | CMP: Rs 464.45

At the current juncture, Coal India has formed a strong base near the Rs 455-460 zone, indicating the possibility of support-driven buying interest emerging at lower levels. Technically, this region coincides with the 50 percent retracement of the previous rally, making it an important support area on the charts.

In addition, an equal-length corrective leg is also visible near the same zone, creating a strong confluence of support levels. Such overlapping technical structures generally increase the probability of trend continuation after consolidation.

The stock is showing signs of stability around these levels, suggesting that downside momentum may be limited. Hence, we expect Coal India to resume its broader uptrend in the next few sessions, provided it sustains above the mentioned support zone and broader market conditions remain supportive. Traders may consider entering long positions in the Rs 465-455 zone.

Strategy: Buy

Target: Rs 490

Stop-Loss: Rs 445

Hyundai Motor India | CMP: Rs 1,906.9

Hyundai Motor India has formed a strong base near the Rs 1,800-1,850 zone, which also coincides with its previous breakout area, making it an important support region on the charts. The stock is showing signs of stability after the recent consolidation phase, indicating accumulation at lower levels.

From a momentum perspective, the RSI has successfully crossed above its previous swing high and is sustaining above the same, reflecting improving bullish momentum and strengthening price structure. Traders may consider entering long positions in the Rs 1,910-1,880 zone.

Strategy: Buy

Target: Rs 2,100

Stop-Loss: Rs 1,800

Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities

Sun Pharmaceutical Industries | CMP: Rs 1,872.7

Sun Pharmaceutical Industries has crossed multiple swing resistance levels and, along with that, has witnessed long buildup, indicating a positive trend going ahead. As per the options data, there is a significant Call base near the Rs 1,860-1,880 strikes, and above these levels, further Call unwinding is expected, which can drive the stock toward the Rs 1,940-2,000 levels.

Hence, the risk-reward ratio remains favourable for the stock. Buy Sun Pharma Futures in the range of Rs 1,860-1,880.

Strategy: Buy

Target: Rs 1,940, Rs 2,000

Stop-Loss: Rs 1,795

Apollo Hospitals Enterprise | CMP: Rs 8,082

Apollo Hospitals Enterprise has provided a breakout from multiple swing resistance levels and, along with that, has witnessed strong long buildup, thus confirming the short-term uptrend. Although there is a huge Call base at the Rs 8,100 strike, which may act as an immediate hurdle, there is also a strong Put base from the Rs 7,000-7,800 levels. Additionally, buildup has been seen at the Rs 7,900 and Rs 8,000 strikes.

Overall, the options structure suggests a higher probability of upside, and the stock is also trading well above its maximum pain level of Rs 8,000. Buy Apollo Hospitals Futures in the range of Rs 8,080-8,100.

Strategy: Buy

Target: Rs 8,250, Rs 8,350

Stop-Loss: Rs 7,980

Eternal | CMP: Rs 245.87

The overall rise in Eternal was mainly driven by short covering, and now the move appears to have run its course as the stock is facing supply near the Rs 260 level. Until this level is decisively crossed, the short-term trend is likely to remain negative.

As per the options data, there have been significant Call additions at the Rs 250 and Rs 260 strikes, which will act as strong resistance levels in the near term, while there is no major Put base. Hence, the bears currently have the upper hand. The stock is also trading below its maximum pain level of Rs 250. Sell Eternal Futures in the range of Rs 245-247.

Strategy: Sell

Target: Rs 230, Rs 220

Stop-Loss: Rs 261

Vidnyan S Sawant, Head of Research at GEPL Capital

Laurus Labs | CMP: Rs 1,266.8

Laurus Labs has been in a sustained upward trajectory since 2023, consistently forming a higher top-higher bottom structure while respecting its key 20- and 50-week EMAs, indicating strong trend strength. In the previous week, the stock witnessed a breakout from the base pattern adjoining the January 2026 highs, supported by a strong bullish candlestick formation.

Volume activity also surged above its 20-week average volume, signalling strong participation and suggesting that the stock is likely to continue its upward trajectory. The momentum indicator, MACD, continues to remain in positive territory, reinforcing sustained bullish momentum in the stock.

Strategy: Buy

Target: Rs 1,406

Stop-Loss: Rs 1,215

Fortis Healthcare | CMP: Rs 974.15

Fortis Healthcare has been in a sustained upward trajectory since 2024 and has consistently respected its key 50-week EMA, highlighting strong trend strength. In the recent week, the stock witnessed a breakout from the Flag & Pole pattern, signalling a resumption of the primary upward trend.

Additionally, the MACD indicator has exhibited a fresh bullish crossover, indicating a pickup in momentum and reinforcing the positive outlook for the stock.

Strategy: Buy

Target: Rs 1,054

Stop-Loss: Rs 941

Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan

Zydus Lifesciences | CMP: Rs 956.95

Zydus Lifesciences has formed a strong base over the past few months. On the upside, Rs 950 was a major resistance level for the stock. However, it decisively closed above the Rs 950 level in Monday’s trading session.

Additionally, the stock has started forming higher highs and higher lows on the daily chart. It is trading above the key daily averages, and the daily momentum indicator recently gave a bullish crossover, indicating that the positive momentum is likely to continue in the short term.

Strategy: Buy

Target: Rs 990, Rs 1,017

Stop-Loss: Rs 927

Max Healthcare Institute | CMP: Rs 1,037.95

Max Healthcare Institute had been trading sideways for the past few sessions, with the Rs 1,025-1,030 zone acting as a strong near-term resistance. However, in Monday’s trading session, the stock closed above this resistance zone along with a bullish crossover in the momentum indicator.

Additionally, it has decisively crossed the 20-week SMA, which is currently placed at Rs 1,014. The overall setup indicates that bullish momentum may strengthen further in the coming trading sessions.

Strategy: Buy

Target: Rs 1,090, Rs 1,112

Stop-Loss: Rs 1,004

HDFC Life Insurance Company | CMP: Rs 622.7

HDFC Life Insurance Company was in a downtrend and had fallen sharply from Rs 750 to Rs 550 levels. However, over the past few weeks, the stock has been attempting to recover, and some positive signs have emerged. Firstly, the daily and weekly momentum indicators are in bullish mode. Secondly, the stock has broken above the trendline resistance and is consolidating above it.

It has already crossed the 20 DMA and is sustaining above it. Currently, the stock is trading around the important resistance level of the 40 DEMA, which is placed at Rs 622. Considering all these factors and the overall setup, we expect the stock to close above the 40 DEMA and sustain above it in the coming days, which could trigger further bullish momentum in the counter.

Strategy: Buy

Target: Rs 660, Rs 673

Stop-Loss: Rs 598