Earning seasons not only helps in judging what is happening to individual companies but more importantly it helps gauge the undercurrent of the markets. When the street does not react with a sharp spike in price when a company announces better than expected results then it indicates lower liquidity and life could be tougher for bulls. If the market reacts to negative surprises or what is commonly called below estimate by any company with a minor cut in stock price, that means that liquidity is very high and the street gets into a mood of giving pardon. Refinitiv’s Stock Report Plus which lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or “strong buy”.
Tech View: Minor pullback rally likely in Nifty, crucial resistance at 24,750. How to trade on Monday
Tejas Shah, Technical Research Analyst at JM Financial & BlinkX, noted that Nifty has support at 24,100 and 24,000, with immediate resistance at 24,450-500 and
October 25, 2024