Market will react to earnings of RELIANCE, ICICIBANK, KOTAKBANK & INFY. Indian market closed on strong note on Friday going into event.
Result expectation of 4 major companies.
RELIANCE: expect to react negative.
INFY: expect to react positively.
ICICIBANK: Gap-up opening may later get sold into.
KOTAKBANK: Market expecting weak opening.
Market View: So far narrative have been, not so bad earnings, this will be on test after today’s reaction. Can reduce position on rising market. US Fed meeting outcome on 27-Jul-22 critical event.
SGX Nifty @ 16697.50 down 27.50 points at 8:40 AM
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