Wipro to Declare Q1 Results Today | Marketsmith India

Market status: Downtrend Global stock markets: Dow30, +0.2%; S&P 500, -0.4%; Nasdaq, -1%; Nikkei, +0.1%; Kospi, +0.3% On Tuesday, Nifty started the session on a flat note and was up about 1% in the first hour of trading. It pared gains in the next couple of hours and briefly turned negative. Strong buying in the second half helped Nifty close near its day’s high. Tuesday’s volume was slightly lower than the previous session. Barring Nifty IT (-3.3%) and Pharma (-1.2%), all sectoral indices closed in the green. Nifty PSU Bank (+4.5%) advanced the most, followed by Auto (+4.3%). Financial-related sectors, which dragged the market in the last few sessions, led the rally on Tuesday. On Monday, we moved the market to a Downtrend as Nifty breached its 50-DMA on higher volume, distribution day count increased to seven, and many leading stocks failed to hold their logical support levels. Tuesday’s session was considered Day 1 of an attempted rally as Nifty traded above yesterday’s low of (14,249). We need two more such sessions to change the market status to a Rally Attempt. From there, we would prefer to see a follow-through day before shifting the market back to a Confirmed Uptrend. Should this occur, the focus will be on ideas breaking out of early-stage base patterns and showing the best relative strength, with good accumulation. Key News Wipro (Nse) will declare its Q1 FY22 results today. Infosys declared its Q1 FY22 results. Profit declined 2.3% q/q to Rs 5,076 crore, while revenue grew 1.5% q/q to Rs 26,311 crore. 5paisa Capital received board’s approval to raise fresh capital of Rs 250.87 crore through preferential issue of equity shares. O’Neil Market Condition Report For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 30%; Rally Attempt, 12%; Uptrend Under Pressure, 52%; Downtrend, 6%. For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 65%; Rally Attempt, 10%; Uptrend Under Pressure, 25%; Downtrend, 0%. Visit MarketSmith India to Read More About Indian Share Market News, Daily Market Tips, Model Portfolio etc.