3-5-2023 Today again stock market has moved two different ways large caps were down and midcap and small caps trying to move up and eventually midcap succeed in closing green. Today #nifty has moved down 57 points (-0.32%) and closed at 18,147. #midcap has moved up 84 points (+0.26%) and closed at 32,186. #smallcap has remained flat with negative bias with weakness of 6 points (-0.07%) and finally closing at 9,732. Stock portfolio has too moved up ₹9,634 (+0.42%) and now it's comfortably enjoying stay above ₹ 23 lakh, to be precise it's at ₹23,12,461.
Today on one side all the heavy weights like #titan #reliance #bajajfinance and #tcs were silent, again one stock from midcap/smallcap regime came up and said don't worry today I will lead, it's #bdl (#bharatdynamics ) who taken the lead with upmove of +4.27% and pulled the portfolio single handedly.
About stock market, this is classic example of market structure. See today morning everything indicated the down move but market resisted and didn't fall. It's because market structure is positive and as long as market structure is positive market are bound to move up😃.
One more thing, the way banking sector is performing in usa, there are high chances that US Fed may take a 'pause' in rate hike cycle in today's monetary policy meet.
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