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.  

The stock is up by nearly 5 per cent on a WTD basis and the volumes of the current week have already surpassed its prior week’s volume and are highest since mid-September.  

As awareness levels have improved, investors are increasingly opting to invest in equities be it through direct, or mutual funds which includes ETF, says Chintan Haria, Head - Product Development and Strategy, ICICI Prudential AMC.