THE BIGGEST EARNINGS WEEKEND!
30% of Nifty reports earnings after close today
Earnings to watch: RIL, ICICI, Infosys and Kotak
4th day of FII buying, highest since April 1
Dollar, Brent, Bond yields remain supportive
((SGX Nifty))

TRADE SETUP
Big question: Will the 5 day winning streak continue?
Is this still a bear rally or stealth bull market?
Midcap Index has now recovered 60% of lost ground
Nifty has recovered almost half of lost ground
Nifty Bank has recovered almost half of entire losses
For now, the Index trade is about momentum
Every dip is getting bought, Nifty making higher lows
On Nifty: 16,661 remains most important on close
A close above 16,661 can propel move towards 200 DMA
Alert: Nifty’s current 200 DMA is at 17,026
Bank Nifty 225 points away from 200 DMA of 36,426

Logical levels on both NIfty and Bank Nifty in this swing are here: 16,661 on Nifty and 200 DMA on Bank Nifty.

Just one of those weeks where respecting the ticker and trend worked

Good morning

CUES TODAY: MIXED BAG
Global mkts in wait and watch mode ahead of Fed decision
Big numbers and GDP data lined up this week in US
Brent oil at $98/bbl, Dollar Index stable
Back home, RIL disappoints, Infy raises guidance
((SGX Nifty))

TRADE SETUP
30% of Nifty will react to earnings at opening trade
Reliance and Infosys may cancel each other at open
Infy’s margins weak, guidance, positioning may help
Growth wise, Infosys now clearly leader in large cap IT
ICICI Bank good but in price, Kotak Bank mixed
FII long exposure now at 45% vs 12% at market bottom
Today’s trade is about defending 16,661 on close
If Nifty defends 16,661, a move to 200 DMA of 17,050 is on
Bank Nifty has outperformed, trading above 200 DMA
On Bank Nifty, 200 DMA of 36,422 now will be support

Bank Nifty low 36,464. In morning setup I said 36,422 will be where big support is

Bank Nifty up almost 400 from lows

Good morning

BATTLE FOR 16,500
All-important Fed meet starts, outcome tonight
Market has priced in 75 bps hike, what about 100?
US decline of last night was pre-empted by Indian mkt

FIIs have sold Rs 3,000 cr in 3 days
((SGX Nifty))

TRADE SETUP
For 2 days, Nifty has closed towards low point
FII selling is back, mainly in giant cap stocks
Nifty IT has turned from 50 DMA
Del selling of Rs 600 cr each in Infy and TCS
Bank Nifty closed right at its 200 DMA
First signs of deterioration in market breadth yesterday
Market breadth will be key monitorable from here
FIIs have started to unwind longs, add shorts
Next level to watch on Nifty: 20 DMA of 16,150
If Nifty protects 16,500 tomorrow on close, bulls will be back

Always works. If you know you know.

Good morning