“We suggest gradual utilisation of cash in equity portfolios (over 6 months or so) by deploying in broader markets through actively managed mid and smallcap-oriented strategies,” said Yogesh Kalwani - head, investments and family office at InCred Wealth in a report.

NSE:ITI Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.

On the daily chart, ITI has confirmed "Rounding Bottom" formation breakout at Rs 115 levels along with huge volumes. The stock has recaptured the 200-day SMA and rebounded sharply.

The Nifty Auto index was trading 0.76 per cent up at 12207.9.

Vakrangee, after a Hammer kind of candlestick pattern, formed robust bullish candle with strong volumes as the stock climbed 13 percent to Rs 29.80. MACD (moving average convergence divergence) remained positive since June 24 and now is near the equilibrium line (zero line), which is positive indication, while the Stochastic has given positive crossover and RSI also showed uptrend indicating sentiments are positive in the stock.

Revenue from the operation almost doubled to Rs 1,266.32 crore in the quarter ended March 2021 from Rs 650.48 crore during the previous quarter ended March 2020. However, ITI has shown underperformance in 2021 so far. The counter is just 5 per cent up in the current year, compared to a 10 per cent jump in BSE Sensex.

“The company, has already made around 200 offers in the recent hiring season at various ITI institutes of the country and plans to hire more,” Neeraj Kochhar, Chairman & Managing Director, Viraj Profiles Ltd said.

Communications and IT minister Ravi Shankar Prasad and Japanese minister for Internal Affairs and Communications Takeda Ryota Signed MoU virtually exchanged the signed MoU.