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.

Broader Markets Outperform

Although the Nifty moved above its 8-EMA and 20-DMA during the session, it slipped below both these averages by the close. The index also continues to trade below its 100-DMA, which remains an important hurdle. However, market breadth stayed strong, supported by clear outperformance in the broader market. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained over 1% each, showing that stock-specific participation remained healthy. Meanwhile, India VIX declined nearly 9% to 13.36, indicating some cooling in volatility after the recent spike.

ALSO READ: TCS Says Client Decision Delays Intensified In Q1 Despite Strong Deal Pipeline

Momentum Indicators Show Mixed Signals

On the daily chart, the MACD is close to generating a fresh bearish signal, which needs to be watched closely. The 14-period RSI has moved back above the 50 mark, suggesting some recovery in momentum. However, the weekly RSI continues to remain below 50, reflecting that the larger trend has not yet regained strong momentum. Positively, the index is still trading above its 10-week and 20-week moving averages, which prevents the broader structure from turning sharply negative.

Key Levels to Watch on Friday 

Going ahead, immediate support for the Nifty is placed near the 50-DMA at 23,825, followed by the lower end of the four-week range at 23,784. On the upside, the 100-DMA at 24,036 will act as the first resistance, followed by the 24,200 to 24,300 zone. As long as the index remains within the 23,784 to 24,300 range, traders may not get a clear directional bias. A decisive breakout on either side of this range would be important to determine the next meaningful move.

TCS Q1FY27 Results

Apart from technical levels, the market will also take cues from the start of the earnings season. Tata Consultancy Services (TCS) reported a net profit of Rs 13,349 crore for Q1FY27, up 4.6% from Rs 12,760 crore in Q1FY26. Revenue grew 13.9% on a reported basis to Rs 72,275 crore as against Rs 63,437 crore in the same quarter last year. Since TCS is one of the first major index heavyweights to announce results, the market reaction to its numbers could influence sentiment towards the IT pack and set the tone for early earnings season expectations.

ALSO READ: TCS Q1 Results: Profit Falls 3% On One-Time Legal Settlement; Margin Contracts Due To Wage Hike

Stock to Watch: IIFL Finance

IIFL Finance gained over 5% on Thursday, taking the stock close to a two-week high. With this move, the stock is now on the verge of breaking out from a two-week consolidation phase. The upmove was supported by strong volumes, which were higher than its 10-day and 30-day average volumes, indicating healthy participation in the direction of the trend.

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Messi Receives Huge Praise From France Great After WC Heroics: "Not Human"

Thierry Henry said his former Barcelona teammate Lionel Messi reminded everyone that he is "not human" after the Argentina captain inspired a dramatic comeback against Egypt, saying the eight-time Ballon d'Or winner has a unique ability to raise his game when his team needs him the most. Reacting to Argentina's 3-2 victory over Egypt in the FIFA World Cup 2026 Round of 16, Henry, while speaking on Fox Sports, reflected on his years as Messi's teammate at Barcelona and said the Argentine's competitive fire is unlike anything he has witnessed.

"First and foremost, look at him crying, and how much that means to him and to the team," Henry said, as quoted by Fox Sports.
"It first reminded us that he's human; he's human because he missed some penalty kicks, four out of eight. Then it reminds us again that he's not human!"

Henry and Messi played together at FC Barcelona for three seasons, from 2007 to 2010. During their time together, they helped the club win seven major trophies, including the historic 2009 treble (La Liga, Copa del Rey, and UEFA Champions League).
Henry then recalled a training-ground incident during their time together to explain what motivates Messi.

"I played with him as you just mentioned, and what happens with Leo--don't wake the sleeping beast inside him! That's exactly what's happening, and I've seen it up close in training," he said, according to Fox Sports.

He added, "You know how it can be in training sometimes; when one of the coaches doesn't want to call a foul, or when the ball goes out, and play continues, and then a goal is scored from it, and Leo wanted that ball called out or as a foul. And when the coach said, 'The ball didn't go out, stop complaining, this could happen in a match.' In the next moment, you look into his eyes and find that he's completely transformed!"

"He goes and takes the ball, and I was there and witnessed it myself, then he scores three goals in a row; he takes the ball from you and scores straight away, then he snatches it again and scores, then he snatches it and scores again, then he turns around and says: 'Next time, call the foul.' And we were all saying: 'Yeah, yeah, next time we'll call the foul!' Because you simply can't stop him. When he gets into that mood, it's very hard to contain him," Henry further added.

Henry said Messi displayed the same mentality against Egypt, refusing to let an earlier penalty miss define his performance.

"And as you know, Zlatan, you've been in this situation; this guy, and let's be honest, it doesn't always work out--but when his team needs it, he completely elevates his game. We're talking about a player who played 120 minutes in the last match, and yet he elevated his level, started taking the ball and dribbling past almost everyone to try to change the course of the game... wow," he said, as per Fox Sports.

The French great admitted that even after sharing the pitch with some of football's biggest names, Messi continued to leave him in awe.

"In truth, looking at him, I was just remembering the days of playing with him. I played with Zizou and with a lot of great players like Ronaldinho and others, and it's no shame to say this, but sometimes when he scored some goals and I was on the field with him, I'd take a second or two to process and say to myself: 'Wow!' Then I'd remember: 'Oh, you're playing now, get back into the match!' That doesn't happen to me much, but he's a unique version of it," he added.

"Look, we're here in the Los Angeles area, Culver City or whatever it is, and this scenario is like a Hollywood movie! There are things that feel almost scripted, like a film plot that couldn't happen in real life, to the point where you'd say the director overdid this storyline! But this guy writes history with his feet," he concluded.

Messi recovered from his first-half penalty miss to play a decisive role as Argentina overturned a 2-0 deficit. After Yasser Ibrahim's opener and Mostafa Ziko's second-half strike put Egypt in control, Cristian Romero sparked the comeback with a header before Messi equalised in the 83rd minute.

Enzo Fernandez then scored the stoppage-time winner to send the defending champions into the quarter-finals against Switzerland.

Messi's equaliser also extended his remarkable World Cup legacy. The 39-year-old became the first player in history to score in nine consecutive FIFA World Cup matches and took his tally in the ongoing tournament to eight goals, matching Guillermo Stabile's Argentina record for the most goals in a single World Cup edition, set in 1930.

According to Opta, he also became the first player to score in six successive knockout-stage matches and increased his all-time World Cup record to 21 goals. Despite those achievements, his earlier spot-kick miss made him the first player to miss two penalties in a single World Cup edition (excluding shootouts) and took his career tally of missed World Cup penalties to four, the most by any player.

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Mumbai Rain Alert: School Holiday Declared In Palghar; BMC Yet To Confirm

The Palghar district administration has declared a holiday for all educational institutions on Wednesday, July 8, as heavy rainfall continues to batter the district, while the Brihanmumbai Municipal Corporation is yet to announce whether schools in Mumbai will remain closed.

In an order issued on Tuesday, District Collector and Chairperson of the District Disaster Management Authority, Dr. Indu Rani Jakhad, directed that all Anganwadis, government and private primary and secondary schools, Zilla Parishad schools, municipal schools, aided and unaided schools, Ashram schools, colleges, educational institutions and coaching centres across Palghar district will remain shut on July 8.

The order, issued under the provisions of the Disaster Management Act, 2005, and the Maharashtra government's school education guidelines, said the decision was taken after reviewing the prevailing weather conditions and the latest forecast from the India Meteorological Department.

ALSO READ: Mumbai School Holiday, WFH For Employees On Wednesday? BMC Clarifies As Fake Claims Go Viral

"As per the advance warning given by the India Meteorological Department, Palghar district is currently receiving heavy rainfall," the order said.

It further noted that authorities had taken into account "the heavy rainfall in the district... the time taken for the water standing on the roads to drain, and the time taken for the situation to return to normal" before deciding to suspend classes.

"I am of the opinion that it is necessary to declare a holiday on Wednesday, 08.07.2026," the order stated, citing student safety and precautionary measures. 

The district administration said the order comes into immediate effect.

As of now, the BMC has not issued any notification on whether schools in Mumbai will remain closed on Wednesday. The latest weather update also points to a rainy night ahead. Weather observers have warned that large rainbands moving in from the Arabian Sea are expected to bring heavy rainfall across Mumbai from around 6:45 p.m., with the north-western suburbs likely to be hit first before the rain spreads across the rest of the city.

ALSO READ: Rain Red Alert: Will Schools, Colleges Stay Closed In Mumbai, Thane, Navi Mumbai, Palghar On Wednesday?

The fresh alert comes after widespread disruption caused by heavy rain over the past few days. Several parts of Mumbai and its suburbs witnessed severe waterlogging, traffic snarls and delays to suburban train and road transport services. 

Residents, parents and students are advised to keep a close watch on official announcements from their respective civic bodies, as any decision on school and college closures is expected to be communicated through official circulars if weather conditions deteriorate further.

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'Satluj Still Online, I'm With Punjab Till I Die': Diljit Dosanjh After Ban

Diljit Dosanjh's Satluj, which had been fighting a prolonged battle over censor approval, was pulled from streaming giant ZEE5 two days after its release in India. Diljit shared his first reaction on Sunday night, hours after the streamer issued a statement about its decision. Early Monday, Diljit hosted an Instagram Live thanking fans for their constant support. He reiterated one point throughout the live session: once something is online, it can't be erased.

Diljit asked fans who have watched and downloaded the film to show it to others who haven't seen it yet.

"I came live on Instagram to thank people for watching Satluj.

"What I had feared actually happened. I thought the film would be taken down by Monday, but it happened sooner than expected. That's why we didn't promote the film. It was best to release the film (online) without any promotion. Today's youth is talking about Jaswant Singh Khalra. Every home is talking about Jaswant Singh Khalra," Diljit said in the Instagram Live.

"You can trouble me as much as you want. I am with Punjab till the day I die," Diljit affirmed.

"But I'm happy and relieved that the film finally reached the audience. Many people have already downloaded it. Once anything lands online, it never gets deleted. I saw a video from Rajasthan where people are watching the film; I felt very happy. Please show it to your friends and everyone around you," he added.

Satluj is based on one of Punjab's darkest chapters in the 1990s, when civilians allegedly disappeared and were cremated without informing their families.

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A post shared by DILJIT DOSANJH (@diljitdosanjh)

"The incident took place in 1995 and they didn't let people talk about it then. It is happening even today. Hadd ho gayi! I'm a little sad. We're still standing there, this is 2026," Diljit said.

Talking about the film's hurdles since the beginning, Diljit said, "Our shooting was stopped for 10–15 years. It took us 1.5 years to start the film. After the edit, the film was stuck for four years. I was with the film for two years; Honey paaji gave the film six years."

About the Satluj controversy

Satluj, originally titled Punjab 95, was submitted to the Central Board of Film Certification (CBFC) in 2022 but had not received a clearance certificate to date.

The filmmakers had previously alleged that the CBFC sought 127 cuts for the film. It was also scheduled to premiere at the Toronto International Film Festival (TIFF) in 2023, but the screening was cancelled after objections were reportedly raised by Indian authorities.

On Friday (July 3), the film released on ZEE5 without promotions. As critics and audiences praised the film, it was suddenly removed from the streamer without prior notice.

The streamer issued a statement, adding that it stands by the film. Without sharing the exact reason for removing it, ZEE5 said that "in light of current developments" the film is unavailable for streaming.

Also Read | Diljit Dosanjh Reveals He 'Broke Down' While Researching For Satluj: 'Reality Is More Painful'

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Man Eats 66 Hot Dogs In 10 Minutes, Wins Rs 9.5 Lakh At Eating Competition

Coney Island once again became the centre of attention on the Fourth of July as Joey Chestnut and Miki Sudo secured victories at Nathan's Famous Hot Dog Eating Contest. The annual US Independence Day showdown saw both champions continue their remarkable dominance in competitive eating. While Chestnut scarfed down 66 wieners to win the men's category title for the 18th time, Sudo ate 38.75 hot dogs for her record 12th victory.

Also Read: Man Makes Hot Dog While Cycling In Viral Video, Internet Can't Believe It

“Eating here on the Fourth of July is a dream; it's electric. There's no place better on Earth,” Chestnut told the New York Post. The win earned him the coveted Mustard Yellow Belt and $10,000. It was his second consecutive title.

The competitive eater has won 18 of his 21 appearances at the internationally televised event. He dominated second-place finisher Patrick Bertoletti, who ate 51 hot dogs, but still fell short of his own 2021 record of 76 hot dogs and buns.

Chestnut conceded that the 90-degree weather wore him down and hurt his usual high-speed eating. “I usually don't have this much spare room left over, but we'll see, something cold. It's definitely hard. I didn't want to go into it saying it's going to affect me, I wanna go into it and convince myself that I can work through it,” he said.

Also Read: 'Don't Need Matcha On Everything': Internet Reacts To Vlogger's Matcha Hot Dog Recipe

“I didn't want to let it bother me. I didn't want to push it because if I push it, then things will get stuck in my throat and then I just needed to stay calm and keep going," he added.

Sudo, on the other hand, holds the women's record of 51 hot dogs, set in 2021. After her own contest, Sudo cheered from the stands for her husband, who proposed to her in 2021 immediately after setting a world record by eating 50 boiled eggs in just over three minutes.

"I just said I would have to rely on muscle memory, and the crowd really carried me through to another belt today," she told the Associated Press.

The iconic competition dates back to 1972 and is held annually in front of the original Nathan's Famous restaurant on Coney Island in New York.

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CAN vs MAR Live Updates: Early Setback For Atlas Lions As Saibari Is Forced Off

Welcome to our live coverage of the FIFA World Cup 2026 Round of 16 clash between Canada and Morocco at the Houston Stadium in Texas on Saturday. With a place in the quarter-finals at stake, both sides will be aiming to continue their impressive runs in the tournament.

Canada, one of the tournament's co-hosts, have reached the knockout stage after an encouraging campaign under Jesse Marsch. Les Rouges booked their place in the Round of 16 with a dramatic 1-0 victory over South Africa, sealed by a stoppage-time winner, and now stand just one win away from a historic first-ever FIFA World Cup quarter-final appearance.

Morocco, meanwhile, have once again underlined their credentials as one of world football's toughest knockout teams. Walid Regragui's side topped their group before edging past the Netherlands in a penalty shootout after scoring a dramatic late equaliser in the Round of 32. Having become the first African nation to reach a World Cup semi-final in 2022, the Atlas Lions are now targeting another deep run on the global stage.

Canada vs Morocco Confirmed Lineups: 

• Canada XI: Maxime Crépeau; Alistair Johnston, Luc de Fougerolles, Moïse Bombito, Richie Laryea; Tajon Buchanan, Niko Sigur, Stephen Eustáquio, Ali Ahmed; Jonathan David, Tani Oluwaseyi.
• Substitutes: Mathieu Choinière, Derek Cornelius, Promise David, Alphonso Davies, Nathan Goodman, Ismaël Koné Jones, Cyle Larin, Liam Millar, Jayden Nelson, Jonathan Osorio, Nathan Saliba, Jacob Shaffelburg, Dayne St. Clair, Joel Waterman.
   
• Morocco XI: Yassine Bounou; Achraf Hakimi (c), Noussair Mazraoui, Issa Diop, Redouane Halhal; Neil El Aynaoui, Ayyoub Bouaddi; Bilal El Khannouss, Azzedine Ounahi, Brahim Diaz; Ismael Saibari.
• Substitutes: Amaimouni-Echghouyab, Sofyan Amrabat, Belammari, Youssef El Kaabi, El Mourabet, Omar El Ouahdi, El Kajoui, Soufiane Rahimi, Chadi Riad, Saadane, Salah-Eddine, Sbai, Tagnaouti, Talbi, Yassine.

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Does FIFA Want Argentina To Win World Cup Again? Argentina Coach's Blunt Reply

Argentina have a relatively easier road to the latter stages of the FIFA World Cup 2026 compared to some of the other favourites in the tournament. Argentina face the tournament's surprise package Cape Verde in the Round of 32, Australia or Egypt await in the Round of 16, and one of Switzerland, Colombia or Ghana could be the potential quarter-final opponent. Against all these teams, Argentina will be overwhelming favourites to win. Therefore, it won't be a surprise if the reigning champions make it all the way to the semis at the very least.

Argentina's easier route has led to certain sections of social media users conspiring whether FIFA themselves want Argentina to win the World Cup again. However, Argentina manager Lionel Scaloni rubbished such suggestion when asked on the matter ahead of their Round of 32 match.

"I don't read social media, but today every opinion can become popular no matter its content. We must ignore such unrealistic opinions and focus on what's important and the pitch." Scaloni responded, as quoted by Saudi Arabia-based outlet Ariyadhiah.

Scaloni also reserved praise for Cape Verde, who have been the underdog story of the FIFA World Cup 2026.

"This is a team that hasn't lost. They aren't here by accident. We have to respect them, and that is what we will do," he said.

A classic David versus Goliath encounter will take centre stage at the World Cup on Friday as tiny Cape Verde face Lionel Messi and Argentina with a place in the last 16 at stake.

Cape Verde, the smallest nation ever to reach the knockout rounds, face the defending champions in Miami dreaming of pulling off what would be the greatest upset in World Cup history.

The Atlantic archipelago have become one of the fairytale stories of this year's expanded 48-team tournament, confounding expectations by earning a draw with Spain before squeezing into the last 32 ahead of Group H rivals Uruguay and Saudi Arabia.

Argentina, who breezed into the knockout rounds with the help of six goals from captain Messi, will be expected to swat aside the African qualifiers to move one step closer to their dream of back-to-back World Cup titles.

With AFP inputs

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