Ahead of Market: 10 things that will decide D-Street action on Thursday

economictimes.indiatimes.com:

Here's how analysts read the market pulse: “Asian Development Bank retained forecasts for India's economic growth at 6.4% for FY24 and 6.7% for FY25, citing robust domestic demand that would continue to support the region's recovery. Nse Cash market volumes were lower as compared to recent averages. «Nifty remains in the strong uptrend.

For the short-term, support for the Nifty has shifted to 19690. Immediate resistance for the Nifty is placed around 20000 levels,” Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities, said. “Indian equities saw another day of gains with the headline index holding strong amidst volatile trading.

The market trend remains positive as the index stays above the moving average. Support is found at 19,700, while resistance is expected between 18900 and 20000 levels, “ Rupak De, Senior Technical analyst at LKP Securities, said. That said, here’s a look at what some key indicators are suggesting for Thursday’s action:US marketWall Street rose on Wednesday as investors looked past second-quarter earnings from Goldman Sachs, while taking comfort from strong profits from some of the smaller players in the sector.

Goldman Sachs eased 1.0% after reporting a bigger-than-expected drop in quarterly profit as a retreat from consumer businesses and declining investment values took a toll on the Wall Street behemoth. US Bancorp slipped 0.3% after the Minneapolis-based lender forecast full-year net interest income (NII) below Wall Street estimates. At 9:44 a.m.