On this week s strategy, Rupak De, Senior Technical analyst at LKP Securities, said that the strength may continue as long as the Nifty index remains above 19,600. "The bulls were able to protect the level of 19,600 during the Friday session, thanks to the strong open interest (OI) build-up at the 19,600 strike price by put writers. Only a decisive fall below 19,600 might trigger serious long unwinding in the market, till then a buy on dips strategy to favour the market," De said.
A lowering of IT sector guidance, a good show from BFSI, auto and oil marketing companies are anticipated events in the earnings season. But be prepared for surprises
The cut in growth guidance for Infosys was an unexpected whammy for the Street as the IT major had already reduced its growth guidance significantly in the previous quarter.
Investors seem to have taken the cut in revenue growth guidance in their stride. HCLTech recorded net profit of Rs 3,832 crore, growing 8.4 percent over the previous quarter, beating analysts estimates