The GIFT Nifty is suggesting that the market it going to witness a muted start. The have been consolidating for a while. last week as well, Last week as well, the Nifty lost about 0.6-0.7 percent close for the week, which we've been broadly consolidating.There are a few important levels to track. All the way down, it will be the 50-day exponential moving average (EMA), which stands at 19,265. On the way up, the recent swing high of 19,482. Broadly, these would be two important markers that we will be tracking. From our all-time high levels, the Nifty lost about 3.4 percent, while the Sensex was down 3.9 percent last week. Last week, the US markets ended with considerable weakness — 2-2.5 percent gone on the key indices. The S&P 500 noted its third-straight week of losses. The focus will now be on US Fed Chair Jerome Powell's speech at the Jackson Hole symposium on August 25. The flows on Friday were fairly mixed.

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21 Aug 2023