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Companies like HCLTech, Tata Elxsi, Moschip Technologies, ASM Technologies, SPEL Semiconductor, RIR Power Electronics, and CG Power have some amount of exposure in the domestic semiconductor space, which, as per studies, is estimated to grow at 19 percent CAGR
The BSE smallcap index rallied nearly 10%, while the midcap index jumped over 7%. Within the smallcap space, over 500 stocks have delivered double-digit returns with the highest gain (Puravankara) going as high as 86%.
Support for the Nifty is seen at 22,000 and 21,700-800 levels. On the higher side, the immediate resistance for the Nifty is at 22,150-175 levels, followed by 22,300-350. Overall, the coming week should set up the market for a large trending move.
Moschip Technologies Q3 FY24 Results Live : Revenue increased by 66.91% YoY & profit increased by 17.51% YoY
Stocks to watch: Shares of firms like HDFC Bank, Adani Energy, G R Infra, Asian Paints, LTIMindtree, and others will be in focus on Wednesday's trade.