Nifty | At a crucial support | Latest stock market news
(3 minutes read)

Stock name: Nifty

Pattern: At a crucial support

Time frame: Daily

Observation:

The benchmark index Nifty 50 is currently standing at an important support of the 200-day simple moving average. Also, if you see, it is very close to the 38.2% retracement level of the down move that started in December 2022.
If the index slips below these levels (17,600), some more weakness can be expected.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Q4 result update: HCL Tech
 Revenue flat QoQ
 PBT down 3.3% QoQ
OPM at 22%, lower than the last years margins

2) Vodafone Idea’s share price surged today after the company announced KM Birla is returning to the board as an additional director.
3) Solar Industries wins order worth 212 crore INR
4) CE Info Systems, ICICI Bank, Macrotech, Star Housing and Yes bank are amongst the companies which will post their quarterly results tomorrow.