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This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest, and the price for the stocks have increased.​

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Nine stocks including Indiabulls Housing Finance, IEX, and BHEL are under the F&O ban for trade on Friday, with Tata Chemicals and L&TFH being the latest to enter the list. The ban on these stocks is due to their open interest crossing the market-wide positions limit. They can still be traded in the cash market. The Sensex and Nifty50 both closed with declines on Thursday, ending a three-session gaining streak. Analysts say the bullish sentiments could be dampened if there is any further sell-off.

In the recent rally (from the bottom) of March 2023 till date, the major contributors were automobile and banking counters, and considering the technical setup, there is still some steam left for a further upside which also confirms our bullishness in these sectors.

Which way markets would move in the short run is very hard to predict. Even though the India story is looking very promising, there are a host of other factors that can influence the markets in the short run, the most prominent of which is the inflation scenario in the developed world.

From the Sensex pack, ICICI Bank, Tata Steel, Titan, UltraTech Cement, Reliance, and Nestle opened with gains, while TCS, Bharti Airtel, Power Grid, Wipro, NTPC and L&T opened with losses.

The Indian rupee rose above the crucial 82 per dollar mark on Friday morning, tracking gains in most other Asian currencies, as fresh U.S. data indicated the Federal Reserve may not be as hawkish as was indicated in its policy statement earlier this week.

Tech Mahindra, incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 105295.60 Crore) operating in IT Software sector.

The S&P BSE Sensex and Nifty50 are expected to rise following global cues, according to experts. On Thursday, the S&P BSE Sensex fell over 300 points, while the Nifty50 closed below 18,700 levels, with the India VIX slightly down at 11.08 levels. The broader trading range is expected to be between 18,450 to 18,900 zones with an immediate trading range in the 18,600 to 18,800 zones. Short-term traders have been advised to buy Tech Mahindra, Lupin, Jubilant FoodWorks and Bajaj Finserv (ETBureau), Dabur India, RIL, and Havells India (ETNow), and Indus Towers and BPCL (an independent technical analyst).

Shares of 11 companies, including Angel One, HDFC Life, and Torrent Power, traded ex-dividend on Friday as they have recently announced dividends. The record date to determine eligibility of shareholders was fixed as June 16. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. In the past one year, Angel One declared an equity dividend of Rs 35.85 per share while Power Finance Corporation has a dividend yield of 4.36%. Other companies that turned ex-dividend include Avantel, Eimco Elecon, High Energy Batteries, Piramal Enterprises, SMC Global Securities, Shriram Finance, and Welspun Corp.