Street signs: IT results to drive Nifty, HNIs move to hybrid funds & more

The market direction in the coming week will be dictated by the Q3 results of domestic IT companies as well as release of macroeconomic data, analysts said

IT results, Omicron to drive Nifty 

Nifty logged the best week in four months, rising 2.6 per cent last week. The index has formed a long legged doji with a slightly upward bias, according to analysts. Volume pick-up and positive advance-decline ratio augur well for the near term, with index likely to oscillate in the range of 17,944-17,655. The market direction in the coming week will be dictated by the Q3 results of domestic IT companies as well as release of macroeconomic data, including inflation numbers for December and manufacturing and industrial production data for November, analysts said. Rising Omicron numbers