Market View: 23 Apr 2024

٢٣ أبريل

What happened in last 24 hours:

1. Gold prices tumble in international markets.

2. US stock market snaps 6 days losing streak and ends the day in green.

3. Reliance Industries posts robust numbers (this stock may push the Nifty upwards today)

4. UBS downgrades 6 mega tech stocks in US which does not augur well for IT sector today.

5. FIIs+DIIs hold 57% short positions and only 30% long position in Index Futures.

6. FIIs continue to sell in cash segment.

7. On 15 min Option Scalper chart, 22517 is a tough resistance where price is expected to taper downwards while nearby support is 21930 level. Last Signal (15 min time frame) is Buy and that is still ON becaues price is out of consolidation zone. Exit long trades only when price comes back to cloud area.

8. Happy Trading.