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A total of 140,203 shares changed hands on the counter till 10:51AM (IST)

​It is a one-day candlestick pattern in which there is a small red real body and an upper shadow extending from the body, and is formed at the top of an uptrend.​

It is a two-bar candlestick pattern formed after a downtrend. The first bar is a red candlestick, which is normally followed by a standard or long legged Doji. This Doji is completely engulfed by the preceding candle.

“Despite being small and midcaps, these are fundamentally strong companies which are high on corporate governance, growth prospects and yet available at comfortable valuations,” said Divam Sharma, co-founder of the PMS and a smallcase manager.

When you are in your nervous 90’s, expect bouncers and choose your shots carefully. The domestic equity markets have had a dream run over the past few months, buoyed by healthy corporate earnings growth, reasonable valuations, resilient domestic macros, positive global investor sentiment, and the influx of FII and DII money.

​This means the average traded quantity of the stock for 5 days along with its cumulative open interest has increased whereas the price has decreased.​

The ICICI Pru fund manager says: "For the long term, I still remain an investor into some of these stocks. However, one can choose tactically to remain underweight in the sector given that we are seeing some kind of slowdown here and also the rural recovery is not likely to happen so quickly as we think."

An analysis of institutional ownership in penny stocks, as defined by those with market capitalisation below Rs 1,000 crore and share price below Rs 25, shows that FIIs hold over 10% stake in a dozen such counters. Out of them, 7 have given double-digit returns in FY24 so far.

​So, we have not had a credit-fuelled growth process as is usually the case, which is why the Fed tightening and the ECB tightening, the Bank of England tightening, even though it has been quite aggressive, has not really slowed the economy very drastically into a recession.

The BSE Sensex was trading 22 points or 0.03% higher at 65,976. Nifty50 was trading at 19,604, up 7 points or 0.04% at around 9.23 am.