The nifty has shown resilience amid mixed earnings as it held on to 19,672. Nifty is holding on to its 20-day moving average (DMA) of 19,423. Domestic institutional investors (DIIs) continued buying in cash markets. On Monday, DIIs bought Rs 934 crore in cash market, while foreign institutional investors (FIIs) sold Rs 83 crore in cash.

Strong global markets, with Dow Jones rallying for the 11th-straight day and ending 183 points up. All eyes are on Alphabet and Microsoft results, post-market hours today.

The Street is awaiting the US Fed decision on wednesday. The Fed fund futures data showed a 98 percent probability of a 25 bps hike, according to CME FedWatch Tool.

Other data to watch includes the US July consumer confidence data, which will be out later today. This is also the US Fed's favourite tool of gauging inflation.

Earnings beat from Tata Steel to aid metal stocks. Its revenue came in at Rs 59,490 crore compared to Street estimate of Rs.57958 crore. Its EBITDA was at Rs 5,174 crore, while the Street had estimated Rs 5053 crore and margin came in as expected at 8.7 percent.

The big earnings to watch today and tomorrow include Tata Motors and Bajaj Auto today and Axis Bank, Cipla, Dr Reddy's Laboratories, Tech Mahindra and Bajaj Finance tomorrow, July 26.