The market is expected to open flat and eye the major results for some direction. A truncated F&O week could pressure on the shorts.
The big ticket results include Reliance Industries where India Infoline expects an 8.4% yoy fall in revenues and 6.9% yoy drop in net profit. A positive surprise on this front will give some boost to the counter. But the main trigger for the bulls would be a short squeeze.
Everybody seems to be right and wrong at some point in the trading day. Given the choppiness and exhaustion of bulls, the indices have been swinging with momentum clearly missing.
Remain nimble and hold on to your positions to make an exit in the coming week as shorts get squeezed.
