Wall Street, earnings cheer the CITI earnings on Friday. Wall Street up over 2% as expectation of 75 bps hike is at 70% expectation.
HDFCBANK result mostly in line with expectation with minor disappointment. HDFC & HDFCBANK merger remains key overhang for HDFC twins.
Nifty: now 15970 could act as key support level and break out above 16275 will open further upside to 16330 & 16622.
Banknifty: closed at 34682, now 34602 will act is key support level and first target remains at 35543. RSI @ 54.63 & RSI average @ 55.65, continue to indicate narrow range.
Market View: On back of global cues, Indices may attempt break out on upside today. Key earnings season for this week, CITI earnings on Friday triggered rally. US Earnings in focus – Bank of America, Goldman Sachs & IBM.
SGX Nifty @ 16217.50 up 177.50 points at 8:00 AM
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Daily Report 18-Jul-22
Indices manage to close on Friday in green as last hour recovery picked up to recover more than 1% from lows.
Wall Street, earnings cheer the CITI earnings on Friday. Wall Street up over 2% as expectation of 75 bps hike is at 70% expectation.
HDFCBANK result mostly in line with expectation with minor disappointment. HDFC & HDFCBANK merger remains key overhang for HDFC twins.
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