Indian Resilience Put to Test Again
It was difficult to make out where the market wanted to head toward in the last week or so. Nifty has been seen oscillating between the 20 DMA and 200 DMA wherein the 20 DMA has acted as strong resistance while the 200 DMA has offered support. Any trend expectation in Nifty was snuffed when TCS failed to respond to its good numbers. Investors were surprised to witness the stock opening lower despite it being confident of achieving double-digit revenue growth in the current financial year and also targeting a similar performance in FY24 as well. However, as the day progressed, the stock recovered from its lower levels and ended with gains of 1.75 per cent.