Amid neutral global markets, foreign neutral institutional investors (FIIs), futures & options (F&O), negative domestic institutional investors (DIIs) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, May 26, 2021.
The range-bound trade ended near the flat line on Tuesday, May 25, 2021. The S&P BSE Sensex remained above the 50,500-mark while the Nifty at the National Stock Exchange ended above the 15,200 level. The S&P BSE Sensex lost 14.37 points or 0.03 per cent to close at 50,637.53. On the NSE, the Nifty 50 index closed 10.75 points or 0.07 per cent higher at 15,208.45. The Bank Nifty index fell 281.60 points or 0.81 per cent to 34,662.
In the broader market, the BSE MidCap index slipped 0.31 per cent and the BSE SmallCap index added 0.26 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for May 26:
Day support zone on Nifty is 15,110-15,140, below that 15,010-15,050 is a strong Buy zone.
Day higher zone on Nifty is 15,250-15,310, above that 15,375-15,425 is a Profit-booking zone.
Day support zone on Bank Nifty is 34,400-34,525, below that 33,950-34,150 is a strong Buy zone.
Day higher zone on Bank Nifty is 34,950-35,125, above that 35,275-35,425 is Profit-booking zone.
Small Day Range for trading on Nifty is 15,150-15,250, while the medium and bigger day ranges are 15,110-15,310 and 15,050-15,400, respectively.
Small Day Range for trading on Bank Nifty is 34,400-34,950, while the medium and bigger day ranges are 34,150-35,125 and 33,900-35,200, respectively.
FIIs Index long at 62% Vs 60%
PCR comfortable at 1.22 Vs 1.30
India VIX down by 1% at 18.84
For Existing Long Positions:
Nifty intraday and closing stop loss are 15,100.
Bank Nifty intraday and closing stop loss are 34,400.
For Existing Short Positions:
Nifty intraday and closing stop loss are 15,325.
Bank Nifty intraday stop loss is 35,225 and closing stop loss is 35,000.
For New Positions:
Buy Nifty on Gap-down Opening with a stop loss of 15,000 and target 15,250, 15,290, 15,310, 15,350, 15,400.
Sell Nifty in 15300-15400 range with a stop loss of 15,450 and target 15,260, 15,210, 15,175, 15,150, 15,110.
For New Positions:
Buy Bank Nifty in 33,950-34,150 range with a stop loss of 33,875 and target 34,275, 34,400, 34,500, 34,600, 34,675.
Aggressive Traders Buy Bank Nifty in 34,400-34,525 range with a Strict stop loss of 34,250 and target 34,600, 34,675, 34,950, 35,125, 35,200.
Sell Bank Nifty in 34,950-35,200 range with a stop loss of 35,300 and target 34,700, 34,600, 34,525, 34,400.