Indian market yesterday’s gap-down opening was bought into, closed above critical resistance level, opening up for further upside.
Government on India reduce windfall tax on Crude oil – Positive for Reliance & ONGC and other oil companies.
Wall Street rally on earnings as corporates manages to beat estimate as going into event with very low expectation.
Approach on Indices: yesterday in last hour, market was showing some strength and did mention around 2:45 PM to go long with revise SL on Nifty @ 16161 & Banknifty @ 35253. Today avoid buying gap-up, we prefer looking opportunity to go long.
Market View: There is change in narrative, focus on companies where result is pending, any positive surprise could bring major move. We are watching INFY, ICICIBANK & LT as top picks.
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Daily Report 20-Jul-22
Government on India reduce windfall tax on Crude oil – Positive for Reliance & ONGC and other oil companies.
Wall Street rally on earnings as corporates manages to beat estimate as going into event with very low expectation.
SGX Nifty @ 16531 up 193.50 points at 8:10 AM
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