23rd May 2024 #Nifty Intraday Levels and Pre-Market Reports

Nifty last close: 22597.80 (+0.32%)

The Indian benchmark indices ended on positive note on May 22
Nifty was seen little bit volatile and sustains around 22600
Finally, Nifty was up 68.80 points or 0.31 percent at 22,597.80
Sensex was up 267.75 points or 0.36 percent at 74,221.06
Cipla, HUL, Tata Consumer, HUL, Coal India and Britannia were among the major gainers on the Nifty
while losers included SBI, Hindalco, Shriram Finance, Hero MotoCorp and Apollo Hospitals
On the sectoral front, realty and FMCG gained one percent each, and capital goods, IT and Media were up 0.5 percent each
On the other hand, bank index was down 0.5 percent and meal index shed 0.4 percent each
Midcap index ended on a flat note and smallcap index was up 0.2 percent
RBI announces record dividend of Rs 2.11 Lakh Crore To Government
US markets ended red note on May 22
Dow declined 0.5%, Nasdaq down 0.18% and S&P500 fell 0.27%
Various offices mention raising rates if inflation warrants it
Fed officials note “disappointing” inflation data in Q1 2024
Officials discussed holding rates higher for longer
Some officials worry that financial conditions are not sufficiently restrictive
Some officials think long run rates need to be higher
Many officials commented on uncertainty about degree of policy restrictiveness
Higher for longer is here to stay)
Nvidia surges 6% in pre-market trades after the strong Q1 results
Nvidia announced stock split 10 for 1
US 10-year yield sustained 4.42%
Oil prices fall for 3rd consecutive day and Brent below $82/bbl
Gold prices fall to $2370/oz
Asian markets were set mixed opening in the early morning
Nikkei up 0.77% and Hangseng down 1.30%

GiftNifty indicates a negative opening for the index
Nifty is facing a intraday resistance 22610 and 22630
If stays above 22630 will try to move 22680

On flip side, Nifty considering a supports 22575 and 22550
Below 22550 finding a next supports around 22500

Updated: 08.58 am / 23rd May 2024