According to market experts, this trade pattern indicates a formation of a pullback rally or a downtrend. This pullback is expected to be short-lived and the weakness could emerge again.
The Indian stock market witnessed a sustainable upside move on Wednesday after showing high volatility on Tuesday. NSE Nifty closed decently higher by 183 points and closed at 17,166 levels whereas BSE Sensex shot up 619 points and closed at 57,684 levels.
According to stock market experts, this trade pattern indicates a formation of a pullback rally or a downtrend. Hence, this pullback is expected to be short-lived and the weakness could emerge again from the higher levels.
According to Moneycontrol, here are stocks that investors should watch for today:
Maruti Suzuki India: The company produced 1,45,560 vehicles in November 2021, against 1,50,221 vehicles in November 2020.
Capital Trust: The company recently enhanced its branch network by opening 71 new branches, taking the total branch network to 315 branches spread across 94 districts in 10 states.
Nxtdigital: The rights issue in the company has been subscribed by approximately 1.94 times.
Raymond: The company approved the Rs 800-crore IPO of its subsidiary JK Files & Engineering.
Mahindra Logistics: The company, and LOGOS, a leading Asia Pacific logistics specialist, have announced a long-term lease agreement for 1.4 million square feet of warehouse facilities at the LOGOS Luhari Logistics Estate in Delhi NCR.
IIFL Finance: Smallcap World Fund Inc acquired 1 crore equity shares in the company at Rs 300 per share, however, Hamblin Watsa Investment Counsel Limited A/C HWIC Asia Fund Class A Shares sold 1,21,65,000 equity shares in the company at Rs 300.04 per share on the BSE, the bulk deals data showed.
Eicher Motors: Motorcycles sales declined 19 percent to 51,654 units in November 2021, from 63,782 units in November 2020.
Marathon Nextgen Realty: The company has approved the proposal of offer and issue of debt security in the form of non-convertible debentures, of Rs 450 crore, by way of private placement basis, in one or more tranches.
S Chand and Company: The company has agreed to acquire a minority stake in iNeuron Intelligence Private Limited.
Infosys: The company announced the extension of its strategic collaboration with Proximus, Belgium's leading digital services and communications solutions provider, to digitally transform, develop, and maintain their IT applications with leading AI and automation solutions.