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Nifty50 could see some resistance or profit taking around the crucial 18000 levels while on the downside crucial support is placed at 17800.

“We thought we would get a 6.9% print for August and 7% print for September. We have to see whether we need to push our September number further up but I think we are still going to end up mildly undershooting the Q2 projections that the MPC had put forward for the CPI inflation. Net-net, it is a complicated set of circumstances as far as the next policy meeting is concerned which is just a couple of weeks away.”

The stock quoted a 52-week high of Rs 440.75 and a 52-week low of Rs 206.1.

Analysts attribute ‘growth’ as one common theme or factor for the stocks which are on retail investors’ buying list. A steep correction in the past few months and economic recovery are some of the other factors supporting the sentiment.

Physical gold demand in some Asian hubs remained firm last week as lower prices lured buyers, although an uptick in domestic rates restrained purchases in India. In the spot market, the highest purity gold was sold at Rs 50,863 per 10 grams while silver was priced at Rs 55,937 per kg on Monday, according to the Indian Bullion and Jewellers Association.

“Whether one would like to buy along with the Nifty, I am not too sure because my take is that if crude oil prices have gone down and if the commodity prices are remaining under control, then in such a situation, even the metal stocks would participate when the market rallies. We will have to take some contra bet into this market instead of buying with Nifty.”

While announcing the sub-division and issuance of bonus shares in July, the holding company said that it wanted to provide liquidity to existing shareholders and make the scrip accessible for potential investors.

Tata Chemicals Ltd., incorporated in the year 1939, is a Mid Cap company (having a market cap of Rs 30265.05 Crore) operating in Chemicals sector.

The Nifty Pharma index was trading 0.14 per cent up at 12733.35.

A total of 3,688 shares changed hands on the counter till 11:06AM (IST).