- Date : 12/10/2022
- Read: 3 mins
Trading strategies for Bata India, Glenmark and PCBL shares on Wednesday

The stock market is not very favourable for investors in recent times, especially if you are eyeing to sell your stocks. Due to the global economic slowdown and fears of recession, the share market is falling consistently. On Tuesday, October 11, 2022, the benchmark indices fell another 1.5%.
Related - Here's a quick guide to the stock market for beginners
How have the indices performed?
Both the BSE Sensex and Nifty50 registered losses along with other indices too. Have a look –

Stocks that bucked the trend
Despite bearish indices, some stocks bucked the trend and rose in market valuation. The best-performing stocks in the market are as follows –
- Bata India
Bata India made exceptional gains in the derivatives segment, i.e., in the futures and options segment. The stock rose by 1.6% and closed at Rs.1810, forming a bullish candle. Over the last few months, the stock price in the spot market increased from a medium value of Rs.1550 to record-breaking highs of Rs.2000.
However, the prices have, since then, been corrected by almost 50%. Currently, the stock is trading close to its support level, which is valued at Rs.1750 and Rs.1725. The resistance levels for the near future are priced at Rs.1870 – Rs.1900. Experts believe that the stock price can witness a pullback in the near future.
- PCBL
Shares of PCBL recorded a growth of 3%, closing at Rs.136.35, which is the highest value since 30th September 2022. The stock is witnessing an uptrend making it a good investment.
The support level of the stock has been formed at Rs.120 over the last few weeks. The RSI oscillator has also shown a positive crossover. Both these factors indicate good performance in the near future.
While the support level is Rs.120, the resistance level for the near future is fixed between Rs.145 and Rs.154.
- Glenmark Life Sciences
Another share with a bullish trend is Glenmark Life Sciences. The share’s price grew more than 7%, creating bullish candlestick patterns. Trading at Rs.415, the stock has witnessed strong trading volumes.
After listing, the stock has seen an oversold momentum. As such, there was a price-wise pullback causing the prices to rise in the last few sessions. The increased volumes indicate a buying pressure. The support level for the stock is Rs.390 to Rs.375, while the resistance levels are between Rs.440 and Rs.470.
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What should you do?
All three stocks have outperformed the market trend and can be good bets, given their future potential. However, read the technical charts before you invest so that you can make an informed decision. If you indulge in intraday trading, you need to monitor the stock price movements closely, while long-term traders can hold a long position on their stocks for maximum gains.
So, assess your investment strategies and needs along with the technical and fundamental analysis of these stocks before making trading decisions.
Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.