Stock Market Update for 19/04/2023
Yesterday Nifty had huge volatility it started with gap up and went down after sometimes it bounced back even though it ended in red. Nifty Still have a resistance level near17800 now Nifty is in the region of consolidation, so it takes time to break the region once it breaks it takes a direction. IT and Banking sectors are struggling in the market because of the results of Infosys and HDFC Bank results. After the announcement of major companies Q4 results Market will take a sure direction. Foreign Institutions had turned into net sellers they had sold above 800cr, and our Domestic Institutions had bought above 400cr. FIIs buying more important for our market to go up. Yesterday US market had huge volatility it started with gap down and started falling after that it had recovered and nearly close flat. Today SGX Nifty and Nifty Futures indicating flat or gap up opening still Nifty is in consolidation zone it may take time to break it so let us wait and watch what will happen.
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