DSIJ Mindshare

The price action formed a long upper shadow and a small real body, which closed near the bottom end of the trading range. Meanwhile, in Japanese, the candlestick parlance is known as the shooting star pattern. The shooting star’s long upper shadow reflects the market rejection of higher prices.

As bears paid a surprise visit on the D-Street in the last hour, sell-off triggered panic in the market. And finally, the unceasing gains in five back to back sessions halted. Having said that, Thursday morning looks promising for the bulls as suggested by SGX Nifty.

Keep a close watch on the level of 10,676 as a decisive move below this level would give further power to the bears! Stocks in news: Phoenix Mills Limited, ICICI Bank, SBI.

In the afternoon trading session on Wednesday, benchmark indices witnessed a sharp decline resulting from sudden selling in domestic markets. Sensex shed nearly 500 points from the day's high to close at 36,329.01 that is 345.51 points or 0.94 per cent lower than its previous close while Nifty fell by 93.90 points or by 0.87 per cent to close at the level of 10,705.75.

Lupin Pharmaceuticals Inc. is voluntarily recalling all batches of Metformin Hydrochloride extended-release tablets USP, 500 mg and 1,000 mg to the consumer level.