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

economictimes.indiatimes.com:

The Indian equities ended Thursday’s session on a weak note even as the US Fed hiked key policy rates on expected lines, Nifty ended at 19,660 points. Sectorally, Pharma and Realty emerged as outliers, while private bank and Oil and Gas indices ended with the most cut Here's how analysts read the market pulse: “The FOMC's decision aligned with market expectations as they implemented a 25bps hike and expressed a data-centric approach for future rate actions.

Positive global sentiment prevailed due to the reduced prospects of a US recession. Despite this, the domestic market witnessed sharp correction led by banks and autos, while pharma stocks performed on a positive start to their earnings season,” Vinod Nair, Head of Research at Geojit Financial Services, said.

“The short-term trend of Nifty seems to have reversed down and more weakness could be in store for the coming sessions. There is a possibility of important cluster support for the market around 19,500-19,450 levels.

Any rise from here could find strong resistance at 19,850 levels,” Nagaraj Shetti, Technical Research Analyst, at HDFC Securities, said. That said, here’s a look at what some key indicators are suggesting for Friday’s action:Wall Street rises on Meta boost Wall Street's main indexes surged on Thursday on hopes that the Federal Reserve's policy tightening was ending and the world's largest economy was heading for a soft landing, while Meta Platforms jumped on strong third-quarter revenue forecast.