Stock Market Highights: Domestic indices crashed over 1% on Wednesday amid negative global cues. The NSE Nifty 50 sank 207 points or 1.05% to settle at 19,526.55 and BSE Sensex tanked 676.53 points or 1.02% to 65,782.78. What should be you strategy for 3 August 2023 Stock Market, let's know in this video.
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01:44 all these sectors have seen a sharp selling.
01:47 In fact, according to Nifty's weightage, out of 100, 100 have seen a decline.
01:55 Even among the top losers and gainers, there was a lot of pull.
02:00 But today, we can see losers winning and many stocks have seen a drop of more than 4%.
02:09 Hero Motocorp, Tata Steel, Tata Motors, Bajaj Finance, which has seen a drop of 3% to 3.5%.
02:17 The only ones that have increased are Asian Paint, Dehundhavani Liver, SDFC Tech, Mahindra, UltraTec Cement,
02:25 which has seen a positive trend for the name alone.
02:28 Otherwise, the entire market has seen a complete sell trend.
02:32 And in the current situation, if we visit FNO's data today, we can see big changes.
02:40 There was a time when the support of Rs.19,500 was working, WISE was trusting Put.
02:48 But as soon as the level of Rs.19,500 fell, there was a big drop in the market.
02:53 And today, the market has seen a drop of up to Rs.19,423.
02:58 If we look at the resistance, we can see a resistance from the WISE buildup call side.
03:07 And if we look at the support, we can see support of Rs.19,400.
03:12 Overall, there is still a lot of pressure.
03:16 Despite the signs of international markets, there will be a trend of a drop in the Indian market.
03:21 Most of the stocks will see profit booking, whether it is a banking counter or an auto counter.
03:27 In these big stocks, the drop can be up to 2-3%.
03:31 And especially those who are making a strategy based on trading should be careful while buying.
03:37 If we activate the strategy on the sell side, you can see a big drop in the big counters.
03:44 If we look at the future data, we can see a big drop in the losers.
03:51 Like Bandhan Bank, there can be a drop of up to Rs.225.
03:56 But it can show a drop of up to Rs.210.
04:00 Hind Copper, there can be a drop of up to 5-7%.
04:04 There can be a drop of up to Rs.140.
04:07 Petrol Net Energy, there was a drop of up to 4%.
04:11 There can be a drop of up to 2-3%.
04:14 You can see a drop of up to Rs.215.
04:17 The market was a little positive because of the results.
04:22 It is also changing.
04:24 If we focus on the results of tomorrow, we have Bharti Airtel, Adani Enterprises, Sun Pharma, Adani Power, Varun Beverages, Dabur, Aishwarya Motor, Cummins India, Lupin, MRF.
04:37 These are the counters whose results will be seen tomorrow.
04:40 Because of these results, the sentiment will be positive or not.
04:47 But right now, the international market is in a strong position.
04:51 Looking at the current situation, there are chances of another drop in Nifty.
04:55 If we understand the chart, the first high in Nifty was around Rs.20,000.
05:02 The second high was around Rs.19,900.
05:07 If we look at the low after that, the lows are continuously increasing.
05:11 According to the range, if you look at the moving averages or RSI, MSED,
05:17 it is indicating that the market will soon be able to see a trend of Rs.19,200.
