IT stocks hold huge promise, should be part of investors’ portfolio: Aamar Deo

economictimes.indiatimes.com:

Nifty’s strong close last week, despite the weakness in Bank Nifty, bodes well for the overall markets and despite continued FII selling, markets have proven to be resilient, further aided by the DII buying, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at Angel One said. Nifty would meet with resistance around the 19,850-19,900 zone in the short-term whereas support is seen around the 19,400-19,450 zone, he adds.

Nifty ended with near 2% WoW gains this week while Bank Nifty almost flat. What is the outlook for next week?
Last week, markets witnessed a positive trend on the back of strong global cues backed by sharp decline in US inflation numbers and receding fears of US Fed rate hikes. Further, it was a broad-based rally across most sectors, except the Banking space, which witnessed sell-off post the RBI’s decision to raise the risk weights for unsecured loans. Also it is worth noting that despite continued FII selling, markets have proven to be resilient, further aided by the DII buying. Nifty’s strong close last week, despite the weakness in Bank Nifty, bodes well for the overall markets. However, Nifty would meet with resistance around the 19850-19900 zone in the short-term whereas support is seen around the 19400-19450 zone.

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Nifty has gained on softer US inflation data but RBI tightening loan norms for banks and NBFC's has undone the financials? What is your assessment on the two developments?
The softening of the US Inflation data has definitely