In the BSE Smallcap index, 60 percent of total 750 stocks were in the positive return on closing of April 16 and of which top 45 stocks rallied between 50-195 percent.
Resumption of a steady up trend can take Divi's Laboratories higher.
ICICI Direct is bullish on Divi’s Laboratories has recommended buy rating on the stock with a target price of Rs 1800 in its research report dated February 04, 2019.
During July-December 2018 period, eight companies fell into the mid-cap category from largecap, 13 moved from small-cap category to mid-cap category
The stock can be bought at current levels and on dips to Rs 1,420 with a stop loss below Rs 85 and a target of Rs 1,700, says Ashish Chaturmohta of Sanctum Wealth Management.
For the index to move higher, Nifty50 has to climb above 10,870-10,950, while on the downside, a break below 10,733 could result in further profit booking.
Divis Laboratories reported stellar performance for the quarter ended September 2018 after all the issues with USFDA being resolved.
Sharekhan bullish on Divis Laboratories has recommended buy rating on the stock with a target price of Rs 1670 in its research report dated September 17, 2018.
"Traders can sell the stock after some technical bounce back around Rs 1,100-1,110 with a stop loss above Rs 1,138 for a target of Rs 1,040," says Abhishek Mondal of Guiness Securities.
Rajesh Agarwal of AUM Capital recommends buying Indraprastha Gas with stop loss at Rs 256 and target at Rs 276, a buy in Motherson Sumi Systems with stop loss at Rs 313 and target at Rs 333 and a buy also in ICICI Prudential Life Insurance with stop loss at Rs 398 and target at Rs 423.
The market breadth was in favour of the advances with 1121 stocks advancing while 487 declined and 431 remained unchanged. On the other hand, in the BSE, 1345 stocks advanced and 658 declined and 107 remained unchanged.
"Any significant breach below 10,130 may drag Index further lower till 10,000 mark i.e. 78.60 percent Retracement level (Drawn from low of 9687 to high of 11,171) on daily scale which might work as strong support zone," says Rajesh Agarwal of AUM Capital.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy ICICI Bank, Infosys, Divis Laboratories, Interglobe Aviation and BPCL and can sell Cadila Healthcare.
The Rs 700 crore project has been hit by ongoing court cases related to land acquisition, as local farmers refuse to part with their land. Locals also claim the factory will result in air and water pollution.
The company spent about Rs 400 crore till December last year and will be spending another Rs 300 crore on the expansion programme during the current year, L Kishore Babu chief financial officer said.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy KPIT Technologies and Colgate Palmolive and can sell BEML and India Cements.
Last week, the company in a regulatory filing had said the US Food and Drug Administration (USFDA) had "closed out" a warning letter issued to the unit in Visakhapatnam following evaluation of corrective actions taken by the company at the plant.
Sharekhan is bullish on Divis Laboratories has recommended buy rating on the stock with a target price of Rs 1275 in its research report dated November 02, 2017.
"Divi's Laboratories has been informed by the USFDA that the agency has completed evaluation of the company's corrective actions in response to FDA's warning letter..dated April 13, 2017" the company said in a BSE filing.
ICICI Direct recommended hold rating on Divi’s Laboratories with a target price of Rs 1090 in its research report dated November 03, 2017.
The announcement marks complete resolution of the import ban, removing the regulatory overhang on the stock.
The company had posted a net profit of Rs 223.85 crore in the same period of previous fiscal.