Tuesday, May 25, 2021

Nifty | Stock Market Outlook 26 May 21

  

 Nifty | Stock Market Outlook 26 May 21


Stock Market Today 

Indian equity benchmarks erased gains to end Tuesday's volatile session flat dragged by power, energy and banking stocks. Tracking solid global cues, the domestic equity indices opened gap-up and stayed in green for most part of the day. 

Fall in fresh coronavirus cases in the country aided the sentiments in the markets. India continued to record steady decline in the number of fresh coronavirus cases with the daily toll slipping below the 200,000-mark. 

BSE Sensex fell 14.37 points or 0.03% to 50,637.53, while the CNX Nifty was up by 10.75 points or 0.07% to 15,208.45. 

Nifty Outlook


Futures of NIFTY

Closing Price15218.00
Premium/Discount9.50
Price Change15.35
Change %0.101
Future OI7629.82 K
OI Change %-19.00
Future Contracts104.03 K
Contracts Change9.23

Put Call Ratio - 27/05/2021

Put Open Interest55728.08 K
Call Open Interest52980.45 K
PCR Open Interest1.05
PCR OI ReadingStrong Bearish
Put Contracts Traded5257441.00
Call Contracts Traded5426430.00
PCR Volume0.969
PCR Vol ReadingBearish



Chart


Nifty touched the upper trend line and is lacking momentum for a breakout as of now. We are adopting a wait and watch strategy for now.
But we are still positive on Nifty and dips should be utilized for buying.
If Nifty is available near 15132 level in any dip then buy Nifty and hold firmly for the levels of 15298.

 NIFTY is trading at 15208.45 and its nearest  price targets are 15132 on downside and 15298 on upside.



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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