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Based on the OI percentage, 90 stocks were on the short-covering list. These include Muthoot Finance, Dr Lal PathLabs, Bajaj Finance, Max Financial Services, and Polycab India.
Stocks which can get downgraded from midcap to smallcap are Rajesh Exports, Aarti Industries, Pfizer, Vinati Organics, Crompton Greaves, Bharat Dynamics, Atul, Navin Fluorine, Whirlpool, Laurus Labs, Sumitomo Chemicals, Aditya Birla Fashion, Bata India and Kajaria Ceramics.
Mazagon Dock, Suzlon Energy, Lloyds Metal, SJVN, Kalyan Jewellers, CreditAccess Grameen, KEI Industries, Emami and Exide Industries are some of smallcap tocks that can enter midcap categories, Nuvama said.
With India Inc entering the last leg of earnings season and Diwali cheer in the air, it will be crucial to see if markets are able to sustain the positive momentum
This week, investors will be eyeing key events such as the Index of Industrial Production (IIP), major quarterly earnings, FII investments, and the Balance of Trade data in the US that will keep the markets buzzing.