Nifty 50, Sensex Today: What to expect from Indian Stock Market in Trade on May 30

The Indian Stock Market Benchmark Indices, Sensex and Nifty 50, Are Likely to see a mute opening on Friday, tracking weak global market cues.

The trends on gift nifty also indicate a flat for the Indian Benchmark Index. The gift nifty was trading Around 24,943 level, a Premium of Nearly 1 point from the nifty futures’ Previous Close.

On Chiursday, The Domestic Equity Market Ended Higher, with the Nifty 50 Settling Above 24,800 Level.

The sensex rose 320.70 points, or 0.39%, to close at 81,633.02, while the nifty 50 ended 81.15 points, or 0.33%, Higher at 24,833.60.

Here’s what to expect from senses, nifty 50 and bank nifty today:

Sensex prediction

Sensex Took Support Near 81,100 and Bounced Back Sharply on Thursday, Forming a Reversal Form on Daily Charts Near the 20-Day SMA (Simple Moving Average), Which is concerned.

“We are of the view that 81,200 and 80,900 would act as key support zones for traders. If senses sustains above these levels, the Chances of Hitting 82,200 – 82,600 wlock bouncers. A Break Below 80,900 Cold Change The Sentiment.

Nifty oi data

Nifty Open Interest (OI) Data Shows the Highest Concentration on the call side at the 24,900 and 25,000 strike prices, suggesting strong resistance levels at these points. On the put side, Significant Oi Build-up is Seen at the 24,800 and 24,700 Strike Prisies, Marking these Levels as Key Support Zones, Said Hardik Matalia, Derivative Analyst at Choice Broking.

Nifty 50 prediction

Nifty 50 closed 0.33% Higher at 24,833.60 on May 29, Forming a long-Legged doji pattern on the daily timeframe.

“A Classic Doji Candle was formed on the Daily Chart, Reflecting indexion. Index Remains Anchored in a Sideways Coil, With the Midline of the Donchian Channel Serving as a Near-Term Cushion. Who the Support Near 24,600 Remains INTACT, The RSI HAS COOLEED to 57, Downing to 57 Highs, reflecting a tapering in bulish momentum without signaling any active weakness, “said om mehra, technical research analyst, samco secreties.

There is no divergence, but overall momentum appears. A Close Above 25,116 May Invite Fresh Bulish Momentum, While a Breach Below 24,500 May Slightly Tilt the Tone Lower, He Added.

Hrishikesh Yedve, AVP Technical and Derivatives Research at Assit C. Mehta Investment Interrmediates Ltd. Noted that the nifty 50 continues to trade Above Its 21-DAY ExPONENANIAL MOVING Average (21-Dema), which is positioned is positioned near 24,600.

“As long as the index holds about this level, the probability of a phulback move remains into. To follow a buy on Dips Strategy, “Yedve said.

Bajaj Broking Research Expects the Index to MainTain Positive Bias and Head Towards 25,200 – 25,300 Levels in the coming sessions.

“Immedia Bias Remains Positive Above The Immediate Support Area Of 24,700 – 24,650. The Index Continues to Consolidate in the Range of 25,200 – 24,400 in the Last 12 Sessions. Consolidation. Last 2 Weeks Lows, “said Bajaj Broking Research.

Bank nifty prediction

Bank nifty index ended the session at 55,546.05, up 129 points or 0.23%, forming a Doji Candle while Continuing to Respect Its Rising TRENDLINE as Support.

“The bank nifty index formed a doji candle on the daily chart, indicating indexion. Near 54,900

According to Om Mehra, The Index has reminded Within a Narrow Zone for Several Sessions But Continues to Hold Above The 20-Day Sma and Ascending TRENDLINE, Keeping the Short-tree-tree.

“The bank nifty index is oscillating below the upper bollinger band Near 56,000, which has capped multiple upside attempts in recent days.

The rsi stands at 60, Showing Gradual Improvement, While The Macd Remains in the negative territory. However, the history is improving, indicating a likely change towards bullying momentum. A Move Above 55,900 even could open the way for a retest of all-time highs, while sliding below 55,100 may attract mild pressure, ”Mehra said.

Bajaj Broking Research Highlighted That The Bank Nifty Index Formed A Doji Candle with Long Shadows in Eiter Direction Signaling Consolidation with High Volatily on the Monthly F & O Expary Session.

“The index is currently testing the upper band of the last 5 weeks consolidation range placed Around 55,800 – 56,000 Leavells. Overall, we expect the index to extend the last 4 weeks in the broad range of 56,000 – 53,500. Support is Seen at 54,000 – 53,500 being the confluence of key retracement and 50 days ema, ”Bajaj Broking Research.

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