Energy and IT stocks to impact St today

Bull market or bear market?

Range-bound as we have witnessed sharp-up move in the past few days, higher side resistance near the all-time high of 11171 levels.

Stocks likely to be in limelight today?

Energy stocks like HPCL and BPCL and IT sector as Infosys will announce numbers

Sectors likely to impact market today?

​​Oil marketing companies and Midcap IT sector stocks.

Your mid-term view?

Nifty is just 1.4% away from its all-time high, we remain positive till 10850 levels are not breached on the downside and one can expect individual stocks movement reacting with respect to the quarterly performances.

What drove markets on Thursday?

Nifty surpassed 11000 levels after a sharp decline in crude oil prices. The Nifty index was up by 75 points. Nifty Energy index was up by 2.7% on the back of sharp 5% decline in crude prices, while other sectors like Banks and Pharma was up by 1% and 0.2% respectively.

Vikas Jain, senior technical analyst, Reliance Securities