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Despite the ongoing rally in the sector, these 10 smallcap stocks plunged up to 64% in 2023 so far.

Several prominent companies listed in the BSE200 index, including Tube Investments of India, Supreme Industries, Bank of Baroda, and Bharat Electronics (BEL), have hit new 52-week high levels, showcasing their strong performance and growth potential. These companies represent diverse sectors and highlight their technological expertise, market leadership, and solid fundamentals. These milestones reflect the resilience and growing investor confidence in the banking sector, defense industry, and plastic and packaging industry.

Several companies in S&P BSE Smallcap stocks have approached their 52-week high levels, including Arvind, Kirloskar Industries, Waaree Renewable Technologies, AstraZeneca Pharma, Safari Industries, and KEI Industries, showcasing their strong momentum and growth potential. Arvind, a textile manufacturer, and AstraZeneca Pharma, a pharmaceutical company, both near their 52-week high marks, demonstrate stability and ability to deliver innovative solutions in their respective industries. Safari Industries, a luggage and travel accessories brand, and KEI Industries, a player in electrical cables and wires industry, also exhibit strong momentum and growth potential.

The market regulator has restrained Pradeep Kumar Dwivedi from holding any directorial position in any listed company other than Eros International.

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Stocks in focus included names like Shriram Finance, which pared gains after hitting a fresh 52-week high, KEI Industries, which rose nearly 5%, and Swan Energy, which rose nearly 8% with a rise in volumes on Thursday.

Indian benchmark index Nifty formed a bearish candle on the daily chart, indicating a short-term reversal pattern on the downside. It ended with an 85.6-point loss at just one point below its previous peak. The index should hold above 18,777 zones to witness upward movement towards 18,888 then 19,000 zones. Analysts predict immediate trading support at 18,710 and 18,666 zones. The broader trading range is expected between 18,550 and 19,000 zones. Technical analysts suggest support zones at 18,700-18,660 and a resistance zone at 18,880-18,900.

Eight Indian stocks with market caps over Rs 75,000 crore that recently suffered from a Bearish MACD Crossover have been identified by ETMarkets. The Moving Average Convergence Divergence line crossing from above to below the signal line suggests a potential bearish trend reversal, making it a warning sign for technical analysts. The eight companies are: Cholamandalam Investment & Finance, ABB India, Infosys, Asian Paints, UltraTech Cement, Tata Motors, Sun Pharmaceutical Industries and Shree Cements. Investors should be warned, however, that conduct thorough research and consider your risk tolerance before making any investment decisions.

ETMarkets has identified 8 stocks with the RSI above 75, meaning they are overbought, using the ETMarkets screener. The stocks on the list are chosen based on a market cap of over Rs 50,000 crore. The includes Shriram Finance, Britannia Industries, SBI Life Insurance, Torrent Pharmaceuticals, ICICI Prudential Life Insurance, HDFC Life Insurance, Life Insurance Corporation of India and Tube Investments of India. Investors should monitor market trends and industry developments for these companies before making decisions.

​India’s tech unicorns are back on track and have been rallying for the past few weeks