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Domestic indices closed largely in the green on Wednesday. The Nifty was up 90 points to 17812, Sensex was up 235 points to 60392 and Bank Nifty was up 191 points to 41557. The top gainers at Nifty 50 were Divis Lab, Bajaj Auto, Adani Enterprises, Eicher Motors and Dr. Reddy while the top losers were Power Grid, NTPC, Nestle India, UltraTech Cement and Hindustan Unilever Ltd. Shares in Tata Consultancy Services Ltd rose 1.5% on Wednesday ahead of the report of fourth-quarter results. TCS stock hit an intraday high of Rs 3260 and closed at Rs 3245. In comparison, NSE Nifty 50 rose 90 points or settled at 17812 and Nifty IT rose 304 points to close at 28980. TCS stock is up down almost 3% in the past month and over 12% in the last year. However, the stock is up over 100% in the last 5 years. At the current market price of Rs 3242, the company's market capitalization is Rs 11.86 lakhcrore. Shares hit an intraday low of 3199 rupees on Wednesday. TCS stock hit a 52-week high of Rs.3738 on April 12, 2022 and a 52-week low of Rs.2926 on September 26, 2022. The Nifty Index has held above the critical moving averages. Also, the Nifty has so far held above the crucial 17500 support level. Market will remain buy on dips as long as index stays above 17500. Immediate support is visible at 17600. On the upper end, the rally could extend towards 17900 -18000.
Resistance: 17400, 17500, 17600
Support: 17300, 17200, 17100
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