Stock Market Update for 27/02/2023
Last Friday Nifty had huge volatility it started with a gap up and ended in red. Nifty falls continuously for 7th consecutive days. Nifty has huge support in the region of 17400 and has huge resistance at 17800. Now Nifty is trading around 17400 once it breaks out it will go to16800. Last Friday Foreign Institutions had been net sellers they had sold more than 1400cr, and our Domestic Institutions had been net buyers they had bought nearly 1400cr. Thought the Institutional selling is less but market had huge fall due to panic in market because of Adani stocks. Last Friday US market had huge falling it had felled more than 2%. Today Nifty Futures and SGX Nifty is indicating a flat or little gaped opening it may take any direction. Now Nifty is indicating bearish sign so market will be continuous to fall. Hope Market will recover soon, and everything goes well.
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