Ahead of Market: 10 things that will decide D-Street action on Tuesday

economictimes.indiatimes.com:

Reliance Industries, HDFC Bank and ICICI Bank helped the indices rebound from early lows amid a mixed trend in global markets. Besides, weakening Brent crude oil prices overseas also boosted investor confidence amid simmering tensions in the Middle East, traders said.
Recovering after a sharp sell-off in morning trade, the 30-share BSE Sensex jumped 329.85 points or 0.52 per cent to settle at 64,112.65.

During the day, it rallied 401.78 points or 0.62 per cent to 64,184.58.

The Nifty advanced 93.65 points or 0.49 per cent to 19,140.90.

Here's how analysts read the market pulse:

«Despite a broader negative outlook due to the prevailing downtrend, the possibility of a pullback exists, potentially taking the index to the 19,300 mark. However, it's crucial to note that the support level at 18,900 is critical, and any closing breach below it would shift control to the bears, potentially leading the index down to the 18,500-18,300 range,» said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities, said, «Nifty took support near 18950 and bounced back sharply.

On daily charts, the index has formed a bullish candle and on intraday charts, it is holding an uptrend continuation formation which is largely positive. As long as the index is holding the 19000 mark the pullback momentum is likely to continue and could move till 19200-19225 levels.