Stock Market Update for 02/05/2023
Last week Nifty had broken the level at 18000 which had been huge resistance for Nifty. Now it has been broken so we can expect huge movement soon. Next resistance level is at 18200 once it breaks, we can expect new high. Last weekend both Foreign Institutions and Domestic Institutions had been net buyers they had bought above 3300cr and 200cr respectively. which is good sign for our market to make high moves. Last week Axis bank had released their Q4 results their net loss is more than expected so we can expect huge fall in Axis bank shares. Last week majority of the global markets are ended in green. Yesterday US markets closed flat due to three days holiday our market will open with a gap. SGX Nifty and Nifty Futures indicating gap up opening after that it may have some consolidation and gap filling process. Let us wait and see what will happen.
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