Asia pacific markets trade mixed ahead of big week in US; Nik,27782/-139/-0.43 Dj,31899/-134/-0.23% Vix23.03/-0.35% S&P sheds nearly 1% friday on snap led tech sell off , but finishes higher on week,( US stock futures are little changed ahead as wall street braces for a busy week of earnings ,FED meeting,
Oil,95.1,prices decline in choppy trade; Gold,1725.3,set to snap 5 week losing streak on softer dollar and yields Bonds, Dollar,2.754, slides to 2 week low on weak data and ECB move dampen sentiment, BC 22905/115/0.5%
Nifty:16719.45/114.2/0.69%;Candle:OGU;Long day green, wave type; Bank Nifty:36738.95/537.95/1.49% Candle:OGU;Long day green; HB;OGU;Long day geen at top,1392,
News:RIL Q1 results | Consolidated PAT rises 46.3% YoY to Rs 17,955 crore driven by refining, retail segments, Powell seen slowing US Fed’s hikes after 75 basis points this week, UK retail sales slip in June as consumers struggle with inflation,
Events/Results:
Axis Bank, Tata Steel, Tech Mahindra, Canara Bank, Macrotech Developers, KPIT Technologies, Aether Industries, Anupam Rasayan India, Aurionpro Solutions, Central Bank of India, Century Textiles & Industries, Chennai Petroleum Corporation, Craftsman Automation, Glaxosmithkline Pharmaceuticals, Indian Energy Exchange, IIFL Wealth Management, Jindal Stainless, Jyothy Labs, Lakshmi Machine Works, Orient Electric, RattanIndia Power, Sharda Cropchem, Sterlite Technologies, Tanla Platforms, Tatva Chintan Pharma Chem, and Tejas Networks will be in focus ahead of June quarter earnings on July 25.
Three stocks – Indiabulls Housing Finance, RBL Bank and Delta Corp – are under the NSE F&O ban list for July 25.
Market wrap up(DWM,T,N,E):Indian equities closed on a higher note on Friday, extending their winning run to the sixth consecutive session, as bulls gained momentum. Benchmark share indices gradually reclaim milestones one after another, with Nifty rising from its 52-week low of 15,190 hit in June to 16,700 levels on July 22. “As this index is consistently trading above 200-day exponential moving average (EMA), dips can remain a buying opportunity as long as it sustains above 16,500 levels on a closing basis,” As the Nifty is in the overbought zone accompanied by a 25-day-old channel resistance at around 16,752, if it slips below 16,610, it can attract selling pressure towards 16,500-16,480, he said, adding however, if the index closes above 16,793, it can extend the rally to 17,000. The best buying opportunity will emerge only on a dip and long-side traders should book profits by making use of the current strength, the market expert advised. But the broader markets appeared to be overbought or cautious after significant run up, as the Nifty Midcap 100 closed flat and Smallcap 100 indices gained 0.37 percent on Friday. The market breadth was not very strong either as about 1,024 shares advanced against 919 declining shares on the NSE.
