Expert view on Bank Nifty & Nifty futures tomorrow 27 May
Expert view on Bank Nifty and Nifty futures for tomorrow 27 May: The Indian stock market opened higher on Wednesday amid positive cues from the other Asian market peers. The key benchmark indices traded above their neutral lines throughout the day. In the end, the key benchmarks extended their early gains on the back of buying in the IT and Financial sectors.
The market sentiments were positive with the report that India is the preferred destination for investment among global investors. Traders have become optimistic as India is getting a steady flow of foreign direct investment (FDI) in the form of equity, reinvested earnings, and capital. However, the upside remained capped as traders were cautious about daily fresh covid cases reported 2,08,921 in the last 24 hrs after falling below 2 lakh on Tuesday.
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty gained 93 points or 0.62 percent and closed at 15301.45 levels while Sensex was up by 379.99 points or 0.76 percent and finished at 51017.52 levels. The Bank Nifty on the spot price gained marginally by 22.20 points or 0.07 percent and ended at 34684.20 levels.
The midcap and smallcap indexes also closed in the green today. The Nifty midcap index gained 21.35 points or 0.08 percent and closed at 25565.70 levels. The Nifty smallcap index was up by 55.10 points or 0.60 percent and ended at 9226.95 levels.
The top five gainers in the Nifty 50 index were Bajaj Finserve, Bajaj Finance, Infosys, Grasim, and UPL. The top five losers in the Nifty 50 index were Power Grid, JSW Steel, Hindalco, Tata Steel, and NTPC. The most active stocks for the day in the Nifty 50 index were SBI, Bajaj Finance, and Tata Steel.
On a sectoral front, IT & Software, Finance, Real Estate, Infrastructure, and Capital Goods sectors closed in the green. On the losing side Metals, Insurance, and Power sectors closed in the red today. Metal sectors got hit today as Credit Suisse downgrades rating on the metal pack and removes Tata Steel from their model portfolio.
Nifty and Nifty Bank futures price movement for 26 May ( May Expiry)
The Nifty futures price opened at 15255.20 made a positive opening of 37.2 points. It has touched an intraday high at 15324 and a day’s low at 15197.20
The Nifty futures price has given a movement of 126.8 points today. In the end, it gained 84.1 points or 0.55 percent and ended at 15302.10 levels.
The Bank Nifty futures opened at 34810 It made a positive opening of 51.95 points today. It has touched an intraday high at 34989.90 and a day’s low at 34434
During the day, the Bank Nifty in futures has given a movement of 555.9 points. In the end, it closed lower by 58.15 points or 0.17 percent and closed at 34699.90 levels.
Expert view on Bank Nifty and Nifty futures for 27 May (May Expiry Day)
Expert view on Nifty futures for tomorrow 27 May
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15350 whereas All Down Moves Initiates Short Covering (Buy) @ 15250
If the Nifty futures share price Moves Above 15318 and sustain. Then you should Buy with 1st Target of 15351 during the day with a Stop Loss of 15270 FOR the Target of 15351-15378- 15402
If the Nifty futures share price Moves Below 15270 and sustain. Then you should Sell with the 1st Target of 15248 during the day with a Stop Loss of 15318. FOR the Target of 15248- 15224 -15180
Expert view on Bank Nifty futures for tomorrow 27 May
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35150, whereas All Down Moves Initiates Short Covering (Buy) @ 34650
Suppose the Bank Nifty futures Moves Above 34980 and sustain, then you should Buy with the 1st Target of 35120 during the day with a Stop Loss of 34550. FOR the Target of 35120 – 35270 – 35540
If the Bank Nifty futures Moves Below 34550 and sustained, then you should Sell with the 1st Target of 34425 during the day with a Stop Loss of 34980. FOR the Target of 34425 – 34290 – 34155
Global markets today
On the global front, Asian markets were mostly closed in the green today. The European markets are trading marginally lower on Wednesday, gains in travels and leisure stocks offsetting the banking losses. The U.S futures index, Dow, and Nasdaq futures are trading higher at (5 pm IST)
Conclusions
Indian stock markets gained half a percent after two dull trading sessions during the week. The key benchmark indices closed in the positive territory ahead of the F&O expiry. Markets gained on the back of buying witnessed in the IT and Financial sectors.
Going ahead we may see some action in the Bank Nifty tomorrow on the monthly F&O expiry day. You can also follow our Daily Morning Report and an expert view on Nifty and Nifty Bank futures for tomorrow 27 May.
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