--- title: "Trade Spotlight: How should you trade Goodluck India, CreditAccess, Sun Pharma, Gravita India, Ratnamani Metals, and others on May 11?" type: "News" locale: "en" url: "https://longbridge.com/en/news/285861121.md" description: "On May 8, equity benchmarks fell over 0.6% amid market weakness, with 1,680 shares declining. Traders are advised to consider short-term strategies for stocks like Goodluck India, CreditAccess Grameen, and Sun Pharma, all showing bullish trends. Goodluck India targets Rs 1,600, CreditAccess Rs 1,650, and Sun Pharma Rs 1,950. Other stocks like NTPC, Timken India, and Gravita India also present buying opportunities with specified targets and stop-loss levels. Overall, the market is expected to trade within the previous week's range as traders await developments in the US-Iran deal." datetime: "2026-05-11T00:49:47.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285861121.md) - [en](https://longbridge.com/en/news/285861121.md) - [zh-HK](https://longbridge.com/zh-HK/news/285861121.md) --- # Trade Spotlight: How should you trade Goodluck India, CreditAccess, Sun Pharma, Gravita India, Ratnamani Metals, and others on May 11? Equity benchmarks closed with losses of more than six-tenths of a percent after a gap-down opening on May 8, amid weakness in market breadth. About 1,680 shares declined against 1,274 advancing shares on the NSE. The market is expected to trade within the previous week's range as traders await progress in the US-Iran deal. Below are some short-term trading ideas to consider: **Rajesh Palviya, Senior Vice President Research (Head of Research) at Axis Securities** **Goodluck India | CMP: Rs 1,427.6** ![Image2610052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-1ec80281ce5dcbcd08f13c82b5e0943f-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Goodluck India has registered an all-time high at the Rs 1,475 level, reflecting bullish sentiment. On the weekly chart, the stock also confirmed a breakout above the "multiple resistance" zone at the Rs 1,355 level, accompanied by huge volumes, which indicates a strong uptrend. The weekly Bollinger Band buy signal shows rising momentum. The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms bullish sentiment. The daily, weekly, and monthly Relative Strength Index (RSI) remains in favourable territory, indicating rising strength across all time frames. Strategy: Buy Target: Rs 1,600, Rs 1,730 Stop-Loss: Rs 1,350 **CreditAccess Grameen | CMP: Rs 1,497** ![Image2710052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-87d82be010b40a54c8d854e97d3dbaa9-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) On the weekly chart, CreditAccess Grameen confirmed an inverse head-and-shoulders pattern at the Rs 1,450 level on a weekly closing basis. This breakout was accompanied by huge volumes, indicating increased momentum. The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching up with the price rise, which reconfirms bullish sentiment. The daily, weekly, and monthly RSI remains in favourable territory, indicating rising strength across all time frames. Strategy: Buy Target: Rs 1,650, Rs 1,830 Stop-Loss: Rs 1,440 **Cera Sanitaryware | CMP: Rs 5,782** ![Image2810052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-047f4318c1599e6b6a2b405950257caf-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) With the recent close, Cera Sanitaryware decisively surpassed the "multiple resistance zone" at the Rs 5,550 level, accompanied by huge volumes. The daily Bollinger Band buy signal indicates increased momentum. The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). The daily, weekly, and monthly RSI remains in favourable territory, indicating rising strength across all time frames. Strategy: Buy Target: Rs 6,000, Rs 6,200 Stop-Loss: Rs 5,600 **Rajesh Bhosale, Technical Analyst at Angel One** **Sun Pharmaceutical Industries | CMP: Rs 1,847.9** ![Image2910052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-fb01fd60421ba25d3a19c98d9f0c949b-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Over the past year, Sun Pharmaceutical Industries has been consolidating within the Rs 1,530–1,830 range, forming a rectangular channel pattern. In recent weeks, aided by strong traction in the pharma space, the heavyweight stock finally witnessed a decisive range breakout, supported by strong volumes and a bullish candlestick formation. Prices have also marked a fresh 52-week high, and considering the strong momentum, the stock is likely to scale new highs in the near term. Hence, buying is recommended in the range of Rs 1,848–1,840. Strategy: Buy Target: Rs 1,950 Stop-Loss: Rs 1,798 **NTPC | CMP: Rs 402.15** ![Image3010052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-dd688b76c5b0e65612a837465accf85e-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) NTPC remains in a strong uptrend, consistently forming a pattern of higher highs and higher lows. Recently, prices witnessed a breakout above the Rs 390 mark, followed by strong follow-up buying. As momentum indicators had entered overbought territory, the stock witnessed some correction. However, after successfully retesting the breakout zone, coinciding with the 20-day DEMA, prices have resumed their primary uptrend. The RSI has also cooled off from overbought levels, indicating the potential for a fresh upmove in the near term. Hence, buying is recommended in NTPC around Rs 402–398. Strategy: Buy Target: Rs 421 Stop-Loss: Rs 390 **Timken India | CMP: Rs 3,595** ![Image3110052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-80fc95db7ecd7d270386f1b39396654d-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Over the past two years, Timken India had been struggling to sustain above the Rs 3,500 mark on a weekly closing basis. However, in recent weeks, prices finally witnessed a decisive breakout, confirming a saucer formation breakout on the charts. The breakout is supported by strong volumes and a bullish candlestick formation. Prices are trading well above key moving averages, while oscillators remain positively placed, supporting the bullish outlook. Hence, buying is recommended in the stock around Rs 3,595–3,580. Strategy: Buy Target: Rs 3,900 Stop-Loss: Rs 3,440 **Anshul Jain, Head of Research at Lakshmishree Investments** **Gravita India | CMP: Rs 1,763** ![Image3210052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-46c5b434afa82b41f7d2e7f4359f0331-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Gravita India has confirmed a breakout from an 86-week falling channel near Rs 1,765, signalling a potential trend reversal after a prolonged corrective phase. The breakout is supported by rising volumes, indicating strong participation and improving conviction among buyers. Daily and weekly EMAs are now positively aligned below the price, acting as a dynamic support base and reinforcing bullish momentum. The structure suggests a transition from accumulation to expansion, with the breakout zone becoming a key support area. A sustained hold above Rs 1,765 would further validate the move and open the path toward Rs 2,100, which coincides with the 50 percent retracement of the entire correction. A breakdown below Rs 1,765 would weaken the bullish setup. Strategy: Rs Buy Target: Rs 2,100 Stop-Loss: Rs 1,655 **Ratnamani Metals and Tubes | CMP: Rs 2,869.4** ![Image3310052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-ad985bad09f085472fadd20531c8cf64-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Ratnamani Metals and Tubes has invalidated a 59-week bearish breakdown and subsequently formed a higher low, indicating a strong shift in the underlying structure. The failed breakdown suggests that weak longs and panic sellers have largely been flushed out, allowing stronger hands to absorb supply. The price is now approaching the rectangle resistance near Rs 2,951, with momentum favouring an upside resolution. The higher low formation after sweeping previous lows reflects improving demand and an increasing probability of a breakout. A decisive move above Rs 2,951 would confirm the range breakout and trigger fresh momentum toward the Rs 3,400 zone initially. Sustained trade below recent swing lows would weaken the bullish reversal structure. Strategy: Buy Target: Rs 3,400 Stop-Loss: Rs 2,650 **Apar Industries | CMP: Rs 12,810** ![Image3410052026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:f3092c8ec094b-41c343642e33eca96a97c9c089ea9c26-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Apar Industries has confirmed a breakout from a bullish 77-week cup-and-handle formation at Rs 11,400, signalling a major continuation setup on the higher timeframe. The breakout has been followed by strong price action and healthy volume participation, validating institutional interest and strengthening conviction. Momentum indicators remain firmly bullish, while moving averages across timeframes are perfectly aligned below the price, acting as a strong launchpad for continuation. The stock now appears to be entering a consolidation phase, which should help absorb short-term excesses and build a stronger base for the next leg higher. As long as the breakout zone holds, the structure supports a swift move toward the pattern target of Rs 16,500. Strategy: Buy Target: Rs 16,500, Rs 18,000 Stop-Loss: Rs 11,000 **Disclaimer** _Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. 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