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​This indicates a bullish sentiment in these counters as the average traded and delivered quantity for 5 days, the cumulative open interest, and the price of the stocks have increased.​

“In every bull market, everything is never perfect and kosher. And then that is our job. We have to be really smart and see which of these are actually backed by fundamentals? If they are backed by fundamentals, yes, they will correct but they will not crap out. So you have to be sensible.”

"We have seen some names which are looking quite promising, something like a Stylam, Venus Pipes, etc. So, we are evaluating a lot of names, but are yet to have a formal coverage on those. But yes, things are looking very promising from a small and midcap side, still the way businesses are."

Sai Silks, which is amongst the top 10 retailers of ethnic apparel, particularly sarees, in South India, is looking to raise Rs 1,201 crore via its initial public offer (IPO). The company has priced its IPO in the range of Rs 210-222 per share. Analysts largely recommend subscribing to the issue.

On the weekly options front, the maximum Call OI is placed at 20,200 and then towards 20,500 strikes while the maximum Put OI is placed at 20100 and then towards 20000 strikes.

From the Sensex pack, HDFC Bank, Tech Mahindra, Tata Steel, Bharti Airtel, and Infosys opened with losses, while ICICI Bank, Power Grid, L&T, IndusInd Bank, Axis Bank opened with gains.

"Conservative hybrid funds invest around 10-25% of their assets in equity markets, which have delivered higher returns. Further, the interest rate risk was reduced by respective funds due to deployment in lower-duration bonds in the fixed-income segment (minimum debt -75%). 360 ONE Balanced Hybrid fund offers a well-diversified portfolio that combines the potential for growth from equity exposure along with stability from debt exposure, thus offering a balanced risk-return profile."

On Comex, Gold futures were trading at $1,949 per troy ounce on Wednesday, down by $2.20 or 0.11% while Silver futures were at $23.345, lower by $0.111 or 0.470%.

The RBI (Reserve Bank of India) needed to make its presence felt just before open, or we would have seen a big move on the upside (on USD/INR)," a trader said.