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The stock also climbed above the 50-DMA on 30 August 2023 which suggests that the short-term momentum is on the upside. The stock hit a record high of Rs 436 on 7 September 2023.

The counter is currently experiencing a downward trend, residing within a supply zone located around Rs 200. The overall structural condition appears to be distorted, primarily because it is trading below its vital moving averages.

"The trap most retail investors fall for is that they are constantly looking for the ‘next’ good idea and they often end up ignoring the stocks in their existing portfolios that have potential to become multibaggers. The multibaggers are not an outcome of shifting from one stock to the next, it is a matter of holding it for a good stock long enough to give you outsized returns."

​It is a 2-day pattern with a green candle and followed by a short candle within the green candle’s range in an uptrend.​

We believe in a long-term approach to investing and accordingly hold selected positions in companies we believe will grow over a longer period of time. The mid and smallcap segments are well represented by the investment and exports sector, which includes chemicals, auto ancillary and manufacturing while the consumption theme has a broader representation in the large cap space.

​This signifies people holding a short position on a stock have decided to exit, and further, traders buy back shares that they initially took positions to short sell​

“The fossil fuel energy ecosystem, be it oil and gas, coal or the power generators and all these companies are still giving a decent value. There are financials which are at reasonable valuations and some of the commodity companies are still offering valuations which appear to be reasonable in my view.”

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.