Monday, May 24, 2021

Nifty and BankNifty, Stock Market Outlook 25 May 21


 Nifty and BankNifty, Stock Market Outlook 

Stock Market Today 

Indian equity benchmarks traded volatile and ended marginally in the green on Monday, helped by gains in heavyweight financial stocks such as SBI, Larsen & Toubro and Axis Bank. Traders took some support as India reported Covid-19 cases below the 250,000-mark for the second consecutive. The fresh caseload stood at 2.4 lakh. Amid a drop in cases, a few states have hinted at the possibility of easing lockdown from next month onwards.

Finally, the BSE Sensex rose 111.42 points or 0.22% to 50,651.90, while the CNX Nifty was up by  22.40 points or 0.15% to 15,197.70.     

The CNX Nifty traded in a range of 15,256.25 and 15,145.45 and there were 26 stocks advancing against 24 stocks declining on the index.  

Nifty Outlook

Futures of NIFTY

Closing Price15202.65
Price Change-3.55
Change %-0.0233
Future OI9419.25 K
OI Change %-5.18
Future Contracts95.23 K
Contracts Change-25.85

Put Call Ratio - 27/05/2021

Put Open Interest58253.02 K
Call Open Interest50362.80 K
PCR Open Interest1.16
PCR OI ReadingStrong Bearish
Put Contracts Traded4579124.00
Call Contracts Traded5011557.00
PCR Volume0.914
PCR Vol ReadingBearish

As discussed yesterday we should follow buy on dips strategy  and market  bounced each times when Nifty turns red in intraday. For tomorrow still our focus should be on the buying side and adopt buy on dips strategy.
On upside still 15278 is important resistance and in downside 15106 is important support. 

BankNifty Outlook

Futures of BANKNIFTY

Closing Price34998.10
Price Change234.95
Change %0.676
Future OI1469.92 K
OI Change %-12.83
Future Contracts174.84 K
Contracts Change-15.31

Put Call Ratio - 27/05/2021

Put Open Interest12611.00 K
Call Open Interest13480.88 K
PCR Open Interest0.935
PCR OI ReadingBearish
Put Contracts Traded9654869.00
Call Contracts Traded11864197.00
PCR Volume0.814
PCR Vol ReadingBearish

We should continue buy on dips strategy and dips should be used  as buying opportunity.
For tomorrow 34616 is support and 35289  is important resistance.

Thanks for your Precious Time.

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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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