"The underlying trend on the daily time is still up-to-sideways. As long as Nifty50 holds above the support at 17,200-17,180, the index could see higher levels.For long trades, it is imperative that stops are kept at 17,180. If this zone breaks, we could see a decline to 16,900," Shah said while expecting volatility ahead.
Revenue came in at 205.6 billion yuan ($30.7 billion) in the April-June quarter, beating analyst expectations despite being slightly below the same period last year, following a decline in the company's China commerce segment revenue, Alibaba said. Alibaba's performance is widely seen as a gauge of Chinese consumer sentiment, given its market dominance, and its revenue growth has slowed markedly over the past year.
"We expect the USD-INR (spot) to trade sideways and quote in the range of 79.20 and 79.80 in the short-term," Somaiya added.On the domestic equity market front, the BSE Sensex ended 51.73 points or 0.09 per cent lower at 58,298.80 points, while the broader NSE Nifty fell 6.15 points or 0.04 per cent to 17,382.00 points.
“We have been able to look at everything all over again and consolidation has happened and going forward, it will be a good track as the numbers come in but we are here for a long term. We are a debt-free company. It is a rebirth and a new model is coming in.”
British consumer price inflation hit a 40-year high of 9.4% in June, already more than four times the BoE's 2% target, triggering industrial action and putting pressure on whoever succeeds Boris Johnson as Britain's next prime minister to come up with further support.