Markets are not able to move beyond 18100 high made on the the day of the HDFC merger news, suggesting it was a news driven rally. The HDFC twins have also give up all of their gains and some more, from the day of the announcement. Now the focus is on the 17600-18100 range. While the undertone is still mildly bullish, any move below 17600 would attract a sell off while 18100 may act as a resistance and may take some time to clear. The SGX Nifty is showing a 150 points drop in the morning hours.
Also IT giants TCS (Monday) and Infy (Wed) will announce their quarterly results and may help decide the market direction for the market.
Note: Markets are closed on Thu and Fri due to holidays, so we have only three trading days!
Also IT giants TCS (Monday) and Infy (Wed) will announce their quarterly results and may help decide the market direction for the market.
Note: Markets are closed on Thu and Fri due to holidays, so we have only three trading days!