GIFT Nifty up 20 points; here's what changed for market while you were sleeping
inflation, which raised hopes that Fed would end its rate hike cycle. Going ahead, stock specific action will continue with first quarter earnings underway. All eyes will be on HDFC Bank, which will report its results today, a first after the merger. Banking stocks will be in focus as major private lenders including ICICI Bank, YES Bank, Kotak Bank will announce their earnings later in the week. «Expectation of good quarterly results, consistent FIIs buying interest and good progress on the monsoon front would keep the overall trend of the market positive,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a muted startGIFT Nifty on the NSE IX traded 20 points, or 0.10 per cent, higher at 19,639, signaling that Dalal Street was headed for muted start on Monday.
Tech View: Having moved above the crucial resistance of 19500 (1.236% Fibonacci projection of weekly taken from recent bottom-top bottom). As per this pattern, the next upside target to be watched is around 1.382% Fibonacci projection at 19800 levels, which is expected to be a next upside target for the Nifty for the coming week. Immediate support is at 19470 levels. India VIX: India VIX, which is a measure of the fear in the markets, fell 2.33% to settle at 10.68 levels.US stocks slipThe S&P 500 ended down slightly on Friday, with bank and financial shares mostly lower on the day following quarterly reports that kicked off earnings season, but all three major U.S. stock indexes posted solid weekly gains.Asian shares subduedAsian shares got off to a subdued start on Monday as markets braced for a raft of Chinese economic data that could well
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