Kal Ki Baat Aaj, Nifty BankNifty Important Levels & Strategy For 25th May & Stock Of The Day

Kal Ki Baat Aaj, Nifty BankNifty Important Levels & Strategy For 25th May & Stock Of The Day

Yesterday despite negative to sideways sentiment from global markets, the Indian equity market managed to end in green. SBIN (State Bank of India) hold both Nifty and Banknifty up-side in the first session of trading after that ICICI BANK, AXIS BANK, HDFCBANK play their role. Indexes were mostly sideways but we saw good trade-in broader market.

The last close of BSE Sensex at 50,652 up 111 points while the Nifty50 moves in a narrow range of 100 points and settled with a gain of 22 points, closed at 15197 on 24th May.

After correction, the US Markets were bounced back yesterday. American IT index Nasdaq rose by 190 points that is 1.41% while the Industrial index Dow Jones closed 186 points up and S&P 500 jump 1%. European markets also closed in good green.

After yesterday negative sentiment Asian markets open in green and continue the momentum. Taking good vibes SGX Nifty also indicating gap-up opening of Nifty and Sensex.

From provisional data available on the NSE Foreign institutional investors (FIIs) net bought shares worth Rs 585.36 cr in cash, while Domestic Institutional Investors (DIIs) sold net shares worth Rs 707.69 cr in the cash market on 24th May.

Key levels to watch. As we already told you in our daily series Kal Ki Baat Aaj that for Nifty fut the important support at 15147 – 15127 on the lower side and 15270 – 15356 is an intraday resistance. On the data front, we saw heavy open interest at 15000 which will act as strong support. If the Nifty stay above15147, we may see upper levels.

Banknifty strong support shifted up to 34270 – 34100 any decline or panic we only think to buy above 35356 for the target of 35870 – 36230.

Today other than Banking and Financials we may see some participation from IT and Auto index. Metal and mining may show a bounce-back too.

The stock of the Day

Kotak Bank showing strength on the chart. It respects its support zone and now ready for triangle breakout.

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