Snaping 5-day losing streak, the Indian market ended nearly 1% higher led by auto stocks and recovery in IT segment. After April 8, when the domestic equity market closed with gains of nearly 0.8%, benchmarks Nifty 50 and Sensex settled with gains of 1.05% and 1.02% on Wednesday. This also helped Nifty close above 17,100 and the Sensex adding nearly 600 points.  
"With support from recovery in beaten-down HDFC stocks and the IT sector, the market countered yesterday’s selloff," said Vinod Nair, Head of Research at Geojit Financial Services.

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Foreign investors are pumping out funds in large quantities while support from DIIs is helping the market to partially balance the pressure, he said. "A similar level of volatility can be expected to continue until global uncertainties settle down leading to a softening of FII selling," Nair added.

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Meanwhile, underperforming benchmark indices, Nifty mid cap closed 0.75% higher, while small cap dropped around 0.20% as India VIX remained below 19-mark.  

The recovery was led by auto, oil & gas, IT, FMCG and Pharma, while metal, media and banking and financial services ended marginally lower.  

The 12-share banking index Nifty Bank closed with marginal cuts of 27 points around 36,300.  

"The Bank Nifty index is still trading below its 200 DMA, which is placed at the 36800 level. The index needs to cross this level decisively to resume the up move. The index lower-end support stands at 36100 and, if breached will witness further downside towards 35800-35100 levels," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.  

Meanwhile, stocks that were in focus on Wednesday included Vijaya diagnostic which ended 6% higher, Larsen & Toubro Infotech that closed with over 5% cut after reporting average result in the March quarter and Vinati Organics that traded on 52-week high and closed with nearly 4% gains.  

Here is what, Santosh Meena, Head of Research, Swastika Investmart Ltd, recommends investors should do with these stocks when market resumes trading on Thursday.  

Vijaya diagnostic
A recently listed counter, Vijay diagnostic is trying to bottom out after a healthy correction where it started to form a series of higher highs and higher lows formation and managed to close above its 50 and 20-DMA. On the upside, 500 will remain a key psychological hurdle that coincides with its 100-DMA, and only a decisive move above the 500 level can lead to any meaningful recovery. On the downside, 425 is an immediate support level while 400 is a key support mark.

Larsen & Toubro Infotech
The overall structure for this counter has turned bearish as it has slipped below its 200-DMA and witnessed a breakdown of key support of the 5600 mark. On an immediate basis, 5000-4900 is an immediate support zone where we can expect some pullback but it will remain vulnerable to selling pressure at higher levels. The key support will be 4500 where we can expect the end of this ongoing correction. On the upside, the 5600 level will now act as a strong hurdle while 5900-6000 is the next supply zone.

Vinati Organics
The counter is continuing its bullish momentum followed by a breakout of a bullish cup and handle formation. The momentum is likely to continue towards the 2500 level. On the downside, 2100-2050 will act as an immediate demand zone while 1950 is 200-DMA as a major support level.