Stock Market Update for 24/07/2023
Last weekend Nifty had started with a huge gap down and had huge volatility and ended in red. The fall is mainly due to Infosys because of the Q1 results not met the expectations due to that all IT stocks had been ended in red. Nifty has support level at 19700 and resistance level near 2000. Last weekend Foreign Institutions had been net sellers they had sold nearly 2000cr, and our Domestic Institutions had been net buyers they had bought above 1200cr. Last weekend majority of the Global Markets are ended in green. Today Majority of the Asian markets are opened in green SGX Nifty and Nifty futures indicating flat or gap down opening. Nifty still in region of consolidation once it break 19500 support, we may expect a trend reversal. Let's wait and watch what will happen.
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