On March 10, 2026, the Nasdaq closed slightly higher, achieving a gain of 0.01%. This modest increase brought the index to a closing value of 22,697.10, just below its 100-day moving average of 22,702.42. The trading session was marked by a mix of investor sentiment, influenced significantly by recent earnings reports and broader market conditions.

Oracle, a major player in the technology sector, reported its Q3 estimates on the same day, revealing revenue of $17.19 billion, which exceeded analysts’ expectations. This positive performance led Oracle to raise its total revenue outlook to $90 billion, a move that has been well-received by investors. Additionally, Oracle’s remaining performance obligations (RPO) surged to $553 billion, up from $130 billion a year ago, indicating strong future demand for its services.

The Nasdaq’s performance is being closely monitored in relation to key technical indicators. The 200-hour moving average has emerged as an important resistance level, while the key support level for Nasdaq futures is identified at 24,853. Analysts suggest that if the Nasdaq can hold above the 20-day exponential moving average (EMA) near 25,050, it would provide support for bullish market sentiment. However, the index is currently trading below the volume-weighted average price (VWAP) at $250.97, which adds a layer of caution for investors.

Market Sentiment

Despite the slight gain, market sentiment remains mixed. The bullish-to-bearish imbalance for QQQM options was approximately 71.8% to 28.2%, indicating a prevailing optimism among options traders. However, analysts caution that if the price breaks below 249.28, the current bullish sentiment could be largely invalidated. This highlights the delicate balance of market forces at play.

Geopolitical Influences

The market’s trajectory is also being shaped by external factors, including geopolitical events. Analysts noted that while there was a bearish tilt in the market, Oracle’s strong earnings and some geopolitical optimism have contributed to a recovery in the Nasdaq. However, the impact of ongoing geopolitical developments on market sentiment remains unclear, leaving investors on alert.

Looking ahead, the future direction of the Nasdaq is uncertain and may depend on upcoming economic data releases. Analysts suggest that if the Nasdaq continues to hold above the EMA 20 and the point of control (POC) around 24,800, a move toward 25,650 becomes increasingly realistic. Nonetheless, as long as the price remains below the 100-hour moving average, sellers maintain the near-term technical advantage.

The Nasdaq’s slight gain on March 10, 2026, reflects a complex interplay of earnings reports, technical indicators, and external market influences. Investors are advised to remain vigilant as the market navigates these dynamics, with the potential for both upward movement and challenges ahead. Details remain unconfirmed regarding the long-term effects of these factors on the Nasdaq’s performance.

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Happiest Minds Technologies’ shares surged over 12.5% after the company revised its FY27 growth expectation to 12.5%, up from a previous estimate of 10%. This upward revision has propelled the stock’s performance, marking a significant milestone for the company.

The stock rose sharply on Wednesday, extending gains to over 35% in just three days. This rally is primarily driven by the company’s optimistic growth outlook, which has been positively influenced by the rapid adoption of its AI First strategy and other initiatives.

Management of Happiest Minds attributed this sharp rally to broad-based demand, improved pipelines, and accelerating AI-led adoption across various sectors. The company’s proactive approach in embracing AI technologies is seen as a key factor in enhancing its market position.

In addition, five stocks from the Nifty500 universe that gained over 10% were highlighted in the RSI Trending Up scan, indicating a strengthening momentum in the stock’s price. The term ‘RSI trending up’ refers to the increase in the Relative Strength Index, which suggests that the stock is gaining traction among investors.

The rapid adoption of AI strategies is influencing stock performance across the technology sector, and Happiest Minds is positioned to benefit from this trend. As companies increasingly integrate AI into their operations, the demand for technology solutions is expected to rise, further bolstering Happiest Minds’ growth prospects.

Details remain unconfirmed regarding the long-term impact of these developments on the company’s overall performance, but the current momentum suggests a positive outlook. Observers are keen to see how the market reacts in the coming weeks as more data becomes available.

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