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A look at the OI data for the weekly series suggests that significant Call Writing build-up is witnessed in 20,900 and 21,000 strikes in Nifty, while on the Put side, 20,800-20,700 witnessed considerable open interest additions.

The Relative Strength Index of the stock stood at 54.17 on Wednesday.

Short-term targets can look to buy the stock now for a possible target towards 1400-1600 levels in the next 3-6 months, suggest experts.

“The RBI may stick to ‘withdrawal of accommodation’ stance given upside risks to food inflation (poor monsoon), strong GDP growth in the recent period and still hawkish global central banks,” said Nuvama Institutional Equities. Given the higher-than-expected GDP growth for Q2, experts do see the RBI raising its projections.

A total of 17,748 shares changed hands on the counter till 12:02PM (IST).

“Largecap banks, IT services and industrials are the three areas that we are focussed on. The recipe is for a largecap outperformance next year. India will still continue to do well but a lot depends on if China data starts to improve. But the stars are still favourably aligned for India.”

According to data available on Trendlyne, 9 BSE midcap stocks such as Oil India, REC, Indraprastha Gas and Piramal Enterprises have delivered dividend yields of up to 5.8% to investors in the last one year.

“As far as midcaps and smallcaps are concerned, the only area where partial profit taking can be looked at is in the midcap IT companies. There was a significant rally in midcap IT, some bit of correction and some more correction can be seen going forward. The other space where some amount of profit booking is par for the course is defence.”

"Gold prices stabilised after a recent 3% drop, with investors considering future interest rates due to a slowdown in the US job market. Concerns about inflation and the possibility of excessive rate cuts initially drove gold to a record high on Monday, but it quickly retreated. The market now suggests a 60% chance of the Fed lowering rates in March," Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies said.

A total of 2,136 shares changed hands on the counter till 10:56AM (IST)