03rd Aug 2023 #Nifty Intraday Levels and Pre-Market Reports

Nifty last close: 19526.55 (-1%)

Fitch Fury: Rs 3.56 lakh crore of wealth wiped out as Nifty tests 19,500
The Indian equity indices witnessed a sharp sell-off on August 2
Led by weakness in the global indices post Fitch Ratings’ downgrade of the US sovereign credit rating
Nifty was opened 19655 then slipped to 19424 and went to 19550
Sensex was down 676.53 points or 1.02 percent at 65,782.78
Nifty was down 207.00 points or 1.05 percent at 19,526.50
The biggest losers on the Nifty were Hero MotoCorp, Tata Motors, Tata Steel, NTPC and Bajaj Finserv
While gainers were Divis Labs, Nestle India, HUL, Tech Mahindra and Asian Paints
All the sectoral indices ended in the red with capital goods, PSU Bank, power and metal down 2 percent each
While auto, bank, realty and oil & gas down 1 percent each
Midcap and Smallcap indices shed 1 percent each
VIX shot up 8% to 11.6
FIIs net sold 1877 crore while DIIs net sold 2 crore on Aug 2
MorganStanley upgrades India to overweight rating
Downgrades China to equal-weight rating
US markets ended largely lower on Aug 2
Dow down 0.98%, S&P500 fell 1.4% and Nasdaq dropped to 2.17%
Qualcomm doen nearly 7% in extended trading misses Q3 earnings estimate
US 10 year yield hits highest level since Nov
Dollar index shot up to 102.60 from 102
Brent crude ended around $84/bbl
WTI crude settled around $80.50/bbl
Asian markets lower and Hangseng down 0.4% and Nikkei slips nearly 1%

GiftNifty indicates a negative opening for the index
Nifty is facing a intraday resistance 19540, 19575 and 19610
If breaks and manages above 19610 will try to move 19670

On other side, Nifty can be considered as supports as 19475 and 19450
Below 19450 finding a next support around 19385

Updated: 08.42 am / 03rd Aug 2023