Friday, August 11, 2023

NIFTY WEEKLY OUTLOOK FOR 14 AUG 2023

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On August 11, the benchmark indices concluded the trading day with consecutive declines, and the Nifty closed below the 19,450 mark. The Sensex finished lower by 365.53 points or 0.56 percent, settling at 65,322.65, while the Nifty experienced a decrease of 114.80 points or 0.59 percent, ending at 19,428.30. Of the shares traded, 1491 advanced, 1988 declined, and 136 remained unchanged.The Nifty’s top performers included HCL Technologies, Titan Company, Power Grid Corporation, UltraTech Cement, and Reliance Industries, whereas IndusInd Bank, NTPC, SBI Life Insurance, Divis Labs, and UPL were among the prominent losers.Within different sectors, the PSU Bank index recorded a gain of 1.2 percent, in contrast to the pharma index which saw a decline of 1 percent. Additionally, the bank, auto, FMCG, metal, and oil & gas sectors all experienced a decrease of 0.5 percent each.Prediction For Monday NIFTY can go up if it goes above 19500 or go down after the level of 19400 but all depend upon the Global cues.Today nifty opened in yesterday’s range after that it goes in the downward direction just after that it was in a range with high volatility and closed near today’s low. For Monday market can go in any of direction depending on the US market. So just follow the level above. 

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