Stock Market Update for 05/01/2023

Yesterday Nifty Closed below 18050. Nifty fell more than 180 points in a single day. Nifty took support level near 18000. Once it breaks the support level Nifty tend to fall more. The Foreign Institutions have been net sellers they sold nearly 2000cr in the market and the domestic institutions have been net buyers they bought nearly 700cr. Yesterday European markets ended up in green CAC and Dax have gained more than 2%. US markets are in huge rally and ended positive. SGX Nifty and Nifty futures are indicating gap up today. Nifty will face a huge rally today because the FIIs are still net sellers. The probability of Nifty closing negative or flat is high. After gapping up Nifty will tend to fall. There will be a huge rally. Let us wait and see what will happen

Index	Open	High	Low	Close
Nifty50	18,230.65	18,243.00	18,020.60	18,042.95
Sensex	61,294.65	61,327.21	60,593.56	60,657.45
Bank Nifty	43,417.50	43,578.40	42,858.65	42,958.80
Dow Jones	33,165.14	33,409.10	33,033.48	33,269.77
S&P 500	3,840.36	3,873.16	3,815.77	3,852.97
Nasdaq	10,467.82	10,515.22	10,337.64	10,458.76