INFY Archives - Equichain Wealth Advisors

Wall Street: TESLA & NETFLIX was down after result, NASDAQ & S&P500 ended down by 2.05% & 0.68% respectively. DOW30 ended in green with 0.47% gains.

INFY Q1FY24 result in-line with estimate, revised revenue guidance downward to 1% – 3.5% from earlier 4% – 7%. INFY ADR down by 8.5% overnight, expect to open with deep cuts.

RELIANCE will come out the result today. LT result on 25-Jul-23 will consider Buy-back and special dividend and record date for same will be 2-Aug-23.

F&O data: FII added 11091 contracts in index futures, net long position for FII is now above 1 lakh contracts in index futures, net long position now stands at 70.68%.

Approach on Indices: GIFT Nifty indicate down opening due to INFY & other IT stocks could remain under pressure, Nifty @ 19697 & Banknifty @ 45110 could act as support level in case of any correction. Banknifty will continue to outperform.

GIFT NIFTY @ 19880 Vs 19967 Nifty future previous close at 8:05 AM

Click on the attachment to read the full report:

21-Jul-23 Daily-Report.pdf

Wall Street had muted session with minor gains as corporate earnings continues to boost sentiment, TESLA Q2 result beat margin despite price cut. NETFLIX was down reacting to result.

RELIANCE & JIO Financials to trade at separate entity from 20-Jul-23. Price discovery session from 9:00 AM to 10:00 AM. Cost of acquisition for Reliance Ind @ 95.32% & RSIL @ 4.68%, values RSIL @ 132.98*

HINDUNILVR & INFY will announce Q1FY24 result today. INFY expected to declare result after market hours, stock will react to its number tomorrow.

F&O data: FII were net seller in index futures by 3464 contracts, net long position remains above 70% currently at 70.20%:29.80%. Nifty PCR @ 1.34 Vs 1.34 remains unchanged. Banknifty PCR @ 1.12.

Approach on Indices: Indices continue to make fresh high now on daily basis and Nifty is in unchartered territory and heading towards 20000 historic level. With weekly options expiry Nifty @ 19800 & Banknifty @ 45500 will be in focus.

GIFT NIFTY @ 19830 Vs 19847 Nifty future previous at 8:30 AM

Click on the attachment to read the full report:

20-Jul-23 Daily-Report.pdf