The Market Commentary for September 1, 2023, and the projected levels for September 4, 2023. Here's a breakdown of the information:
September 1, 2023:
NIFTY closed at 19435.30.
NIFTY's highest point during the day was 19459.
NIFTY's lowest point during the day was 19256.
The commentary notes that heavy buying by DII's (Domestic Institutional Investors) helped NIFTY close at its highest level. DII buying often reflects confidence in the domestic market.
Projected NIFTY Levels for September 4, 2023:
Strong support: 19026.
First support: 19400.
Resistance levels: 19475, 19510, 19548.
The commentary provides projected support and resistance levels for the upcoming day. It's noted that NIFTY had crossed the first resistance of 19400, indicating some bullish momentum.
However, the commentary also suggests that NIFTY's data formation does not support significant bullish momentum in the coming days. This highlights the importance of considering both technical and fundamental factors when analyzing market conditions.
Market sentiment and conditions can change rapidly, so it's essential for investors to stay informed about current events and trends while making investment decisions. Additionally, it's wise to diversify investments and manage risk appropriately.
September 1, 2023:
NIFTY closed at 19435.30.
NIFTY's highest point during the day was 19459.
NIFTY's lowest point during the day was 19256.
The commentary notes that heavy buying by DII's (Domestic Institutional Investors) helped NIFTY close at its highest level. DII buying often reflects confidence in the domestic market.
Projected NIFTY Levels for September 4, 2023:
Strong support: 19026.
First support: 19400.
Resistance levels: 19475, 19510, 19548.
The commentary provides projected support and resistance levels for the upcoming day. It's noted that NIFTY had crossed the first resistance of 19400, indicating some bullish momentum.
However, the commentary also suggests that NIFTY's data formation does not support significant bullish momentum in the coming days. This highlights the importance of considering both technical and fundamental factors when analyzing market conditions.
Market sentiment and conditions can change rapidly, so it's essential for investors to stay informed about current events and trends while making investment decisions. Additionally, it's wise to diversify investments and manage risk appropriately.