Data showed that at least 60 stocks on the BSE have rallied over 250% since October 19, 2021, when the benchmark equity index BSE Sensex hit its all-time high of 62,245.43. Since then, the 30-share index has plunged nearly 13% to date.
Read more about Stocks to Watch: RIL, Wockhardt, IDBI Bk, SJVN, Titan, DMart, FMCG, Pharma on Business Standard. Pharma shares may be in focus as India's apex health research organization ICMR has raised concerns around the safety for use of the oral antiviral drug Molnupiravir
Rajesh Palviya of Axis Securities feels the overall short-term trend is still intact upward. One should use any pullback rally towards 17,600-17,500 levels as a buying opportunity with a stop-loss of 17,400 with an upside towards 18,000-18,200 levels, he advised.