Nifty crossed its prior day high early in the day and had also, registered an intraday high of 17,489.80; however, at higher levels, profit booking was witnessed and this profit booking exuberated as the day progressed. As a result, Nifty not only lost about 300 points from the high point of the day but also, ended the day below the 17,200 mark with a loss of over 1 per cent.

On the last day of the week, after a higher opening, the benchmarks indices failed to sustain the higher level and showed profit booking with Sensex settling at 57,696.46 level, lower by 1.31 per cent whereas Nifty ending at 17,196.70, down by 1.18 per cent.

Activity in the F&O market for the weekly expiry on December 09, 2021, shows 17,500 to act as strong resistance.

Recovery from the lower levels indicates that the market participants actively participated in these stocks at the lower levels.

The optimism is the shares of Medicamen Biotech is owing to the 'Oncology products' to be launched in the domestic markets by January 1, 2022.

BSE Smallcap index outperformed broader markets, by gaining 0.33 per cent i.e. 94.25 points to close at 28,421.89.  

As the stock is trading at 10-year highs, it is above all the short and long-term moving averages. The stock is meeting Mark Minervini’s trend template.

NFO has opened for subscription on December 1 and is closing on December 15, 2021.

Nifty is trading lower by 75 points or 0.43 per cent as the bears seem to dominate the market.

Pandemic led elevated awareness of hygiene needs has given a leg up to the growth of surfactants, asserts K Ganesh Kamath, CFO, Galaxy Surfactants.