Sensex Today | Stock Market LIVE Updates: Nifty may open close to 23,200; IT stocks in focus

Sensex Today | Stock Market LIVE Updates: The start of a very heavy week in terms of earnings and results will see the Nifty bulls aspire to continue last week’s market recovery, which saw the index close above the mark of 23,000. The biggest trigger for today will be how Reliance Industries reacts to its quarterly results which were reported after market hours on Friday and were strong. A positive reaction here could take the index higher.

IT will continue to remain in focus after the semiconductor sell-off on Wall Street last Friday. The other two positive triggers for the market include an easing in crude oil prices towards the $111 a barrel mark, and some very strong GST collection numbers reported last evening.

Auto stocks like Maruti, M&M and others will also react to their sales figures for October. Apart from Reliance Industries, also keep an eye on Dixon Tech, Muthoot Finance, CDSL, PB Fintech and others, as they react to their numbers as well in today’s session.

For the Nifty, 23,200 – 23,250 is the first hurdle on the upside in case it does sustain above Friday’s high of 23,118, while the bulls would hope that 23,000 on the downside is protected. For the Nifty Bank, the index would want to sustain above 54,500 and make a move back towards the upper end of the 54,000 – 55,000 range.

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