The failure to hold above Tuesday’s session low of 12,024.50, there is a higher probability of reaching 11,929 levels in the coming days. On the upside, Nifty needs to crawl back above the 50-DMA and close above the level.

Indian markets are likely to open in green today tracking positive global cues. In western markets, the market participants felt the sell-off was overdone and indulged in bargain hunting. SGX Nifty is trading up by 29 points at 12,097 levels.

The stock of Astral Poly Technik Limited has given a downward sloping trendline breakout on the daily time frame along with robust volumes. Additionally, the stock had formed an opening bullish Marubozu candle on the breakout day, which added strength to the breakout.

Mahindra & Mahindra announced that its subsidiary Mahindra First Choice Wheels Limited (MFCWL) has acquired Fifth Gear Ventures Limited (FGVL).

The following stocks will be in focus during Wednesday’s trading session in the light of their result announcements: Escorts, Jubilant FoodWorks, Nilkamal, Pidilite Industries and Vaibhav Global.

At present, the stock had formed a bearish engulfing candlestick pattern on daily scale, which suggests that bears are taking control. The bearish engulfing candlestick pattern is considered to be a bearish reversal pattern, which usually occurs at the top of an uptrend.

The country’s largest passenger vehicle maker, Maruti Suzuki reported its third quarter result of the fiscal year 2019-20 today. Its consolidated revenue grew by 5 per cent to Rs 20,721.8 crore from Rs 19,680.7 crore in the corresponding quarter of the previous year.

The market opened in the green on January 28, 2020, overall volumes in futures & options currently stand at 1.62 crore contracts with a turnover of Rs. 11,68,351.53 crore.

The market opened in the green on January 28, 2020, overall volumes in futures & options currently stand at 1.62 crore contracts with a turnover of Rs. 11,68,351.53 crore.