Kamal Ghorui
Stock market recommendations: Mehul Kothari, DVP – Technical Research at Anand Rathi Shares has recommended Castrol India, Concord Biotech, and Intellect Design Arena as the top stocks to buy today, May 6, 2026.Castrol India Ltd – Harmonic Completion with Momentum ConfirmationBuy: ₹186–₹180 | Stop Loss: ₹166 | Target: ₹214Castrol India has completed a classic AB=CD harmonic structure, highlighting price symmetry and a potential reversal zone. This completion aligns with the 61.8% internal Fibonacci retracement, reinforcing the importance of this support area. Additionally, the presence of the 1.27 external retracement adds further confluence to the bullish setup. Momentum indicators support this view, with RSI sustaining above the 50 mark, indicating improving strength and positive bias. Overall, the structure suggests a high probability of upward movement from current levels.Concord Biotech Ltd – Base Formation with Momentum ExpansionBuy: ₹1200–₹1170 | Stop Loss: ₹1070 | Target: ₹1380Concord Biotech has formed a strong base in the ₹1000–₹1100 zone, supported by bullish divergence, indicating accumulation at lower levels. The RSI has crossed above the 60 mark for the first time in several months, reflecting a pickup in momentum and strengthening trend bias. Additionally, the stock has closed above the Williams Alligator indicator, suggesting a transition into a sustained uptrend. The confluence of these factors indicates improving sentiment and increasing buying interest, pointing toward potential continuation of the bullish move.Intellect Design Arena Ltd – Base Breakout with Trend Reversal SignalsBuy: ₹740–₹720 | Stop Loss: ₹660 | Target: ₹850Intellect Design Arena has developed a strong base in the ₹600–₹700 zone, supported by bullish divergence, indicating accumulation at lower levels. The RSI has moved above the 50 mark, signaling improving momentum and strengthening trend conditions. Additionally, the stock has broken above its previous swing high, confirming a potential trend reversal and shift towards an uptrend. The alignment of these technical factors reflects improving sentiment and rising buying interest, suggesting a high probability of continued bullish momentum in the near to medium term.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
