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The Nifty Pharma index was trading 0.33 per cent down at 12627.45.

The stock quoted a 52-week high price of Rs 1509.25 and low of Rs 1002.5.

Promoters held 67.24 per cent stake in the company as of 30-Sep-2022, while FIIs owned 20.23 per cent, DIIs 6.43 per cent.

It is trading within its all-important moving averages. On the higher time frame, there is a long consolidation and is trying to bottom the structure, which suggests much more upside potential in this counter.

This multibagger stock from the garments and apparels segment is scheduled to meet for its board meeting for considering bonus share issue and stock split. The company’s stock in a 1-year period has generated a return of 578

The brokerage maintains a Buy rating on Infosys with an unchanged PT of Rs. 1,730 given strong deal pipeline, its end -to-end capabilities and prowess in digital areas, analytics, automation and Cobalt cloud.

“We should be prepared for a reasonably volatile first half followed by rebound or a positive back half of the year. In the volatile first half, one should invest in tranches and there are four or five themes that I would be bullish on investing in from a 3-year perspective.”

“The biggest trend that has emerged in India over the last three, four years since demonetisation has been the power of Indian money or the so-called retail or HNI money flow which comes into the Indian markets. It cannot drive the markets to a larger extent but it provides a larger cushion to the markets in any eventuality,”

On the options front, the weekly maximum Call OI is placed at 18000 and then towards 18200 strikes while the maximum Put OI is placed at 17900 and then towards 17800 strikes. Call writing is seen at 18200 then 18000 strikes while Put writing was seen at 17800 and then towards 17900 strikes.

“Nifty’s technical landscape is suggesting major support at the 17,761 mark and below the same, the index will form a lower top/low pattern on the daily charts. Immediate upside hurdles are at the 18,265 mark, while confirmation of strength is now only above the 18,473 mark,” Prashanth Tapse - Senior VP (Research) at Mehta Equities said.