Brief :
The stock market had its own little dance today. The BSE Sensex and Nifty50, which are like the stars of the show, decided to take a bit of a dip. They slipped by 366 and 121 points respectively, painting a picture of uncertainty in the air. It’s almost like a suspenseful movie.
Details : Support & Resistance
Now, let’s get into the exciting details. There’s this cool calculator that tells us where the Nifty might find its superhero cape. It could find some backup at 19,230 points – like a trusty sidekick. If things get a bit rocky, 19,210 and 19,168 points might step in to save the day. But hold up, there’s a fortress at 19,330 points that the Nifty might struggle to breach, followed by 19,366 and 19,388 points standing guard.
Switching gears to the Nifty Bank – it had a bit of a dramatic start on August 25th. The Bank Nifty opened with a frown and kept heading south, but guess what? It managed to pull a surprise twist by holding onto the 44,000 points magic number when the curtains closed. It might have lost 265 points, but it certainly didn’t lose its spirit, closing at 44,231 points.
Expert view :
For all you strategic players out there, keep your eyes on the Nifty around 19,350 points. If it decides to leap over this hurdle, the party might continue up to 19,470 and who knows, maybe even 19,545 points – talk about aiming high! But, and here’s the plot twist, if it falls below 19,230 points, the mood might darken, and if it takes a nosedive to 19,180 or 19,080 points, well, let’s just say it might need a hero to save the day.
FII’S & DII’S
Oh, and before we wrap up this thrilling story, let’s talk about some fascinating player dynamics. Foreign investors waved goodbye to stocks worth around ₹ 15,821 crores, while domestic investors swooped in to scoop up stocks worth around ₹ 17,741 crores. It’s like a grand trading adventure, full of surprises and twists that keep us all on the edge of our seats.
Conclusion
In a nutshell, the market is currently being dominated by bears, and for the bulls to regain control, they’re relying on a boost of positivity from all corners and some favorable global news. The market seems a bit fatigued, showing signs of weariness. Interestingly, over the past couple of weeks, there hasn’t been a distinct indication – it’s like the market is caught in a consolidation mode.
