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Stock Ideas

Bulls were back to their roaring best after a two day pause as a host of triggers lifted the market mood on Tuesday. Banks and financial stocks led the surge following the Reserve Bank of India’s (RBI) liquidity injection measures. While the S&P BSE Sensex settled at 75,901.4, up by 535.24 points or 0.71%, the broader Nifty closed at 22,957.25, higher by 128.10 points or 0.56%.

Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said the bearish sentiments persist notwithstanding a positive closing. "The Nifty remained volatile throughout the session before closing below 23,000, reinforcing bearish sentiment in the market. In the near term, the index is likely to remain under bearish control as long as it stays below 23,000 on a closing basis. On the downside, immediate support is placed at 22,800, and a breach below this level could lead to a decline toward 22,500. Conversely, a close above 23,000 might provide some short-term relief to the market," De said.

Here are 2 stock recommendations for Wednesday:

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