Key Points
Buy or sell stocks today: Indian market will be dictated by the Q1 earnings of major IT firms like Tata Consultancy Services (TCS) and HCL Tech on Wednesday..
In the previous session, markets ended on a positive note, however, resistance was seen as Nifty failed to surpass the immediate hurdle at the record high..
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher said, "Nifty after the decent gains witnessed in the last 4 sessions was subjected to some volatility resisting near 19430 zone with some mixed trend overall to form a Doji candle on the daily chart but closed in the green gaining some odd 66 points..
The index has near-term support at around 19250 levels with the major crucial support lying near 18900-19000 zone whereas on the upside the initial targets is set around 19800-19900 levels.".
Meanwhile, in regards to Bank Nifty, Parekh said that the index, after the decent rise from 43700 zone, has witnessed some fluctuations forming a Doji pattern on the daily chart finding resistance near 45650 zone but with overall bias maintained positive has still further upside potential in the coming sessions..
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