Adani Ports, HCL Tech, ICICI Bank, TVS Motors likely to be in focus today

Bull market or bear market?

It will likely be a bear market given the formation of a bearish engulfing pattern on the daily chart. The midpoint of this placed at 103330-10310 will act as resistance where a pressure may be seen for a downside move likely towards 10190.

Stocks likely to be in limelight today?

Adani Ports, HCL Tech, TVS Motors, ICICI Bank.

Sectors likely to impact market today?

Auto, Financials, Energy space will be crucial to watch.

Your mid-term view?

A volatile session is expected in the near-term given the expansion in volatility and Nifty trading at its crucial supports placed at 10200-10150. A breach of these should see a quick move to 4 digits.

What drove markets on Monday?

The pressure was clearly visible given the selling pressure in Energy space along with smallcap and midcap space. It was some strength in select blue chips from Financials and Auto space that helped market stay above 10200.

Mustafa Nadeem, CEO, Epic Research