Market Probe 11/08/2023 - 11 August 2023

Market Probe 11/08/2023

Nifty Performance: - Nifty experienced a second consecutive session of decline on August 11. Nifty's decline is followed weakness from the previous session. - The decline marked the third consecutive weekly fall, reaching 0.45%. - Weak global cues were the main factor pulling down Nifty. - At the closing bell, Nifty was down by 0.59% or 114.9 points, reaching 19428.3. - European and Asian stocks dropped on Friday due to geopolitical tensions between China and the US. Banknifty Performance: - Bears currently hold dominance over the Bank Nifty index. - It has breach of the crucial support level at 44380 on a closing. - The next support level is located at 43750, which can act as a bearish reversal for the Investors or Traders. SEBI Research Analyst Registration No.: INH200009351 We provide research and not advisory services. This means that we do not engage in financial planning or risk assessment for our customers. Our services are same for every customer as set forth by SEBI RA (Securities and Exchange Board of India Research Analyst) guidelines