S2EP26 | 24250 Is The Line. Reliance Decides The Rest | 24th April Friday
The Tanmay Edge | India's pre-market edge, every trading day... by Tanmay Kurtkoti
Episode notes
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 ...