Stock Market Update for 31/07/2023

Stock Market Update for 31/07/2023

Last weekend Nifty had started with a huge gap down and had huge volatility and ended in red. Nifty had broken the support level near 19700 now Nifty has support level at 19500 and resistance level near 19700. Last weekend Foreign Institutions had been net sellers they had sold nearly 1000cr, and our Domestic Institutions had been net buyers they had bought above 1600cr. Last weekend majority of the Global Markets are ended in Mixed in US Markets all indices are ended in green. Today Majority of the Asian markets are opened in mixed SGX Nifty and Nifty futures indicating flat or gap up opening. Nifty still in region of consolidation once it breaks 19500 support, we may expect a trend reversal. Let's wait and watch what will happen.