Stock Market Update for 04/08/2023

Stock Market Update for 04/08/2023

Yesterday Nifty had started with a gap down and had huge fall and ended in red Nifty, Bank Nifty and Sensex all had felled nearly 1%. Yesterday Nifty had broken the support level near 19400 and forms new support level near 19300 and resistance level near 19500. Yesterday Foreign Institutions had been net sellers they had sold above 300cr, and our Domestic Institutions was net buyers they had bought above 1700cr. Yesterday Majority of the global markets had ended in red and US markets all indices are ended in red. Majority of Asian Markets are opened in red SGX Nifty and Nifty Futures indicating gap down opening. Market will turn bearish if Nifty breaks 19300. Let's wait and watch what will happen.