On the global front, Foxconn has seen a sharp drop in revenues because of the Covid lockdowns in China. According to International Air Transport Association, global airline industry is likely to return to profitability in 2023. The industry as a whole is expected to post profit of $5 billion in 2023, after 3 consecutive years of losses.
On the technical front, Nifty 50 is likely to see support at 18104 and resistance at 18800, this week. Bullish trend is likely to be seen in Infrastructure stocks, this week. IT stocks may see bearish trend.
A Buy call is being given on the stock of Gujarat Gas, for this week. Target is Rs 560. Stop loss is Rs 500.
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