HCLTech results will be closely watched to bring IT stocks fall under control. Infy and TCS have been underperforming for long.
Tsla stock has been hammered at poor result but it is a just qtr no and thus keep this stock under watch as it has verticals like EV cars, pick up trucks and solar segment.
The corrective phase continues. Nifty is in wave Y of XYZ corrective pattern in the larger wave 4. Lot of results are in focus and stock moves will be sharp. We have had a good run in the last 2 weeks and I would suggest, small trades but with consistency. Nifty has taken support at 200DMA at 17580 levels. Any break of 17570 - 17610 range can open the downside of 100 points. Similarly any move above 17730 should give 100 points.
Make money using our bank nifty option tips on a daily basis.
Nifty. Support is placed at 17540 and resistance at 17730.
BankNifty. Taken support at 42100 many times, if it breaks on expiry day, we see a drop of 300/450 points.
Cautious day with levels.
USA Unemployment Claims Forecast 240K previous 239K and Actual 245K. Positive for bullion and negative for base metals .
Philly Fed Manufacturing Index Forecast -19.1 previous -23.2 and Actual -31.3. Positive for bullion and negative for base metals .
