Yesterday 24200 was the pin day. It held for six hours. Then somebody pulled the floor out and we closed at 24173. Twenty-seven points below the line both writers were defending. That wasn't a break from conviction. That was a pin giving up.

This morning GIFT Nifty opens at 24247, plus ninety. And the one number I'm watching today is 24250. Above it, we have a trade. Below it, we don't.

In this episode:

Three overnight stories that shape the open. Infy Q4 headline beat (PAT +21 percent at 8501 crore, revenue +13.4 percent, 500 percent dividend) but a guidance cut to 1.5 to 3.5 percent constant currency and ADR minus 6 percent that confirms the IT de-rating. Oil at 106 dollars for a sixth straight session after Trump ordered the US Navy to engage anything laying mines in the Strait of Hormuz. Software crushed overnight in the US  ...