IGI Logo

The benchmark Sensex and Nifty indices are expected to open flat on May 27, following GIFT Nifty
trends indicating a loss of just 7 points for the broader index.
Nifty can find support at 22,900 followed by 22,850 and 22,800. On the higher side, 23,050 can be an
immediate resistance, followed by 23,100 and 23,200.
The charts of Bank Nifty indicate that it may get support at 48,800, followed by 48,600 and 48,500. If
the index advances, 49,100 would be the initial key resistance, followed by 49,300 and 49,400.
Foreign institutional investors remained net buyers as they bought Indian equities worth Rs 944.83
crore worth of shares on May 24. On the other hand, domestic institutional investors bought Rs
2,320.32 crore worth of equities on the the same day.
INDIAVIX was positive on Friday and closed higher, Up by 1.54 percent and is currently trading at
21.7100.
On Friday Nifty made a fresh all-time high above 23000 levels. Traders are advised to purchase on
dips near the strong support at 22800 levels with a stop loss of 22700 on closing basis. On the higher
side Nifty can move towards 23200 and 23500 in coming days. Bank Nifty has also shown strength
and hence it can also move higher towards the next resistance of 49400-49600 levels.