Stock Market Update for 23/02/2023
Yesterday Nifty had a huge fall because of US Market fall and Adani Stocks. Due to Adani stocks PSU Banks are dragged down so there is huge fall in banking sector. Due to US market fall IT Sector also felled so much. Nifty had broken the support level near 17800, Now 17800 will acts as a huge resistance and 17400 acts as huge support for the Nifty. Yesterday Foreign Institutions had sold above 500cr, and our Domestic Institutions had bought above 300cr. The Net institution selling less though market had felled more it is due to the panic around retail traders. Today SGX Nifty indicating gap up opening and majority of the Global Market are in green US and European Markets futures are in green so we may expect some recovery in market today. Also today is an expiry day so we have some kind of volatility in market. Hope Market will recover soon.
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