Market Trading Guide: HDFC Bank, Wipro are among 5 stock recommendations for Tuesday

A resounding win by the Bharatiya Janata Party (BJP) led Mahayuti alliance in Maharashtra assembly elections triggered the domestic stock markets on Monday, carrying their Friday momentum. It was a broad based rally across sectors though bank stocks made a killing. While the benchmark S&P BSE Sensex settled at 80,109.85, up by 992.74 points or 1.25%, the broader Nifty closed at 24,221.90, higher by 314.65 points or 1.32%.Commenting on the day's action, Rupak De, Senior Technical Analyst, LKP Securities said Nifty traded sideways throughout the day despite opening with a gap-up. The index has moved above the 21 EMA, indicating improving sentiment, he added. "The RSI is in a bullish crossover and trending upward. The sentiment is expected to remain positive in the short term, with buying on dips likely to favor traders. On the higher side, 24,500 is expected to act as a crucial resistance; a decisive move above this level could trigger a further rally. Support on the lower side is placed at 23,950–24,000," De said.Here are 5 stock recommendations for Tuesday: Stock Ideas