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IT Stocks to lead Nifty? (15th July 2024)



1. U.S Markets closed higher Yesterday
2. All the indices closed higher. 
3. U.S Futures are higher right now.
4. Gift Nifty is higher by 60+ Points.
5. Asian Markets are higher right now. 
6. Friday was the day of IT Stocks
7. All the IT companies were significantly higher.
8. This was on the back of TCS results.
9. IT is one of the few sectors that hasn't participated in this Bull market. 
10. It has been a laggard
11. As long as IT is doing well,  Nifty would be higher. 
12. Until now, the earnings season has been good.
13. There hasn't been any major disappointment. 
14. Expect markets to trade in a range
15.  Majority of the froth still exists in the market.
16. My expectation is that before the budget we might correct 3-5% on major indices & Post budget we might recover
17. 2nd alternative is before the budget we rally on the back of expectations from the Budget.
18. Once budget is out we will witness significant correction if those expectations are not met.
19. It's a reverse trade opportunity closer to budget.
20. Nifty might trade between 24300 to 24600 today.


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