Should the Nifty 50 fall below the 24,800 level, it could potentially slide further to the 24,600–24,500 range in the coming sessions.
The Nifty Microcap 250 index gained 1.57 percent and Nifty Smallcap index 1.16 percent as against a flat 0.27 percent rise in the benchmark Nifty 50 on April 3. On the BSE, at least 154 stocks hit fresh 52-week highs and 17 made fresh 52-week lows
Glenmark Pharma formed bullish candlestick pattern on the daily scale with above average volumes. The stock showed nice recovery in last four days after falling closer to 200-day EMA, and now traded above all key moving averages.
Gujarat Ambuja Exports formed bullish candlestick pattern with long upper shadow on the daily charts. The trading volume was robust, while there was a decisive breakout of long falling resistance trendline, with stock trading above all key moving averages.
Given the technical indicators and market sentiment, Vidnyan Sawant of GEPL Capital anticipates the Nifty to oscillate within the 19,605 to 19,878 range in the coming sessions.
The proposed greenfield facility at Himmatnagar, Gujarat, is supposed to expand the aggregate maize processing capacity of the company through its five facilities to 6,000 tonnes per day