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Trade Setup For July 10: How Nifty May React To TCS Q1 Results - Key Levels To Watch

The Nifty 50 started Thursday's session on a positive note and touched an intraday high of 24,134.70 in early trade. This level marked nearly a 61.8% retracement of the previous day's decline. However, the index failed to sustain at higher levels and gave up more than 150 points from the day's high in the second half of the session. Despite this late weakness, the index ended higher by 80.75 points, or 0.34%, and snapped its two-day losing streak. However, the close below the psychological 24,000 mark kept the recovery muted. Nifty Forms Inside Candle   Thursday's price action resulted in the formation of an inside candle. This came after the previous session recorded the widest single-day range in over one month. The latest candle had a small green body and a long upper shadow, which indicates hesitation at higher levels. This suggests that while buying interest emerged after the recent decline, traders were not confident enough to carry positions aggressively. ...
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Meghalaya, Nagaland Vote Today, Multi-Cornered Contests On Cards: 10 Facts

  1. Meghalaya will witness a multi-cornered contest, where besides the Congress, BJP and Conrad Sangma's NPP (National People's Party), Mamata Banerjee's Trinamool Congress are in fray.
  2. Trinamool has become the largest opposition party in the state following the defection of former Chief Minister Mukul Sangma and several other Congress legislators. The Congress, which won 21 seats last time and became the single largest party, is seen to have suffered an erosion of its voter base.
  3. In 2018, the BJP won only two seats, but managed to cobble together a government with NPP. This time, it has fielded candidates on 60 seats after a rift with Mr Sangma's party over allegations of corruption.
  4. The NPP's ambition for a footprint in all the northeastern states, however, is seen as the big reason for the growing coolness between the two parties. Mr Sangma's party has contested the last year's elections in Manipur and improved its vote share. It has some presence in Arunachal Pradesh also and has plans for Nagaland next.
  5. Both the BJP and Conrad Sangma have brushed off the Trinamool challenge. Mr Sangma has tagged the party an outsider, and said it would take Trinamool a long time to establish themselves and get people's acceptance.
  6. Triangular contests are on the cards in 59 of the 60 assembly constituencies in Nagaland. The BJP, which won 12 of the state's 60 seats in 2018, is contesting in alliance with the NDPP (Nationalist Democratic Progressive Party). Under the seat-sharing agreement, the NDPP is contesting on 40 seats and the BJP on 20 seats.
  7. The BJP, though, has opened its account already, with its candidate Kazheto Kinimi being re-elected unopposed from the Akuluto Assembly constituency after his only opponent withdrew his candidature.
  8. The opposition Congress and the Naga People's Front are contesting in 23 and 22 seats. The Congress has said it can opt for a post-poll alliance if needed.
  9. Four women candidates are contesting the elections in Nagaland this time. While the state has women in leading positions in every sphere, a woman MLA will be a first.
  10. Voting will begin at 7 am and continue till 4 pm in both states under tight security. The counting of votes will be held on March 2.


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