Market Commentary (closing) for 27th May 2026 by Bajaj Broking
Below the Market Commentary (closing) for 27th May 2026 by Bajaj Broking
Market Closing Commentary
Indian benchmark indices witnessed a choppy trading session on the monthly Sensex expiry day on May 27 and eventually ended on a muted note near the 23,900 mark. Market sentiment remained cautious amid rising concerns over tensions in the Middle East, while the Indian Rupee closed largely flat against the US dollar. At close, the Sensex declined by 141.90 points or 0.19 percent to settle at 75,867.80, while the Nifty slipped by 6.55 points or 0.03 percent to close at 23,907.15.
On the sectoral front, buying interest was visible in Nifty Media, Metal, and Auto stocks, which provided positive support to the broader market. On the other hand, Nifty Private Bank, Financial Services, and Oil & Gas indices emerged as laggards during the session. In the broader market segment, the Nifty Midcap 100 index continued its upward momentum and extended gains by 0.42 percent, hitting fresh milestone levels. The Nifty Smallcap 100 index also ended higher with gains of 0.15 percent, reflecting sustained buying interest in the broader market space.
Nifty Outlook
Index in the daily chart formed a small bullish candlestick pattern with shadows in either direction signaling consolidation amid stock specific action. Index is seen sustaining above the 20 days EMA. Nifty earlier during the week has generated a breakout above the last 9 sessions trading range of 23,200-23,850. Index is currently seen testing the upper band of the breakout area. Going ahead, index sustaining above the Monday’s gap area (23,835-23,922) will keep the bias positive and will open further upside towards 24,200-24,300 levels in the coming sessions being the trendline resistance joining the highs of April & May 2026.
Index has immediate support at 23,600 levels, failure to hold above 23,600 will signal extension of the consolidation. While major support is placed at 23,200-23,000 being the confluence of the lower band of the 8th April bullish gap area and the 61.8% retracement of the previous pullback (22,182-24,601).
Bank Nifty Outlook
Index in the daily chart formed a second consecutive high wave candle with a small real body and shadows in either direction signaling consolidation amid stock specific action after recent strong up move. Bank Nifty earlier during the week has generated a breakout above the last 9 sessions consolidation range (54,400-52,800) signaling strength. Index sustaining above the Monday’s gap area (54,055-54,590) will keep the bias positive and will open further upside towards 56,000 and 56,600 levels in the coming sessions being the measuring implication of the recent consolidation range. Index has immediate support at 54,000 levels, failure to hold above 54,000 will signal extension of the consolidation. While major support is placed at 53,000-52,500 being the confluence of the lower band of the 8th April bullish gap area and the 61.8% retracement of the previous pullback (49955-57456).
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