Stock Market Update for 15/05/202
Last week Nifty had been in the zone of consolidation it had broken the resistance near 18300 may times but it was false breakout so still 18300 will act has huge resistance and 18200 will act as support. Foreign Institutions had been net buyers for last 12 days which is good news for our market. Last weekend FIIs had bought above 1000cr, and DIIs had Sold above 900cr. Last week US Market had ended in red it had been down for more than a week. Last Saturday Karnataka state election results had been released as expected Congress had been won but our may react in negative side because BJP had loosed. But these results are expected if Monday market got dragged, we don't need to worried still our market is on bull side. Today Majority of the global markets are in red, Nifty Futures and SGX Nifty indicating gap down opening. Nifty will soon make a big move so let us wait and watch.
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