Stock market today: Trade setup for Nifty 50 to Sensex, eight stocks to buy or sell on Monday — May 27
Stock market today: After making fresh highs in early morning trade, the Indian stock market settled flat on Friday last week. The Nifty 50 index settled at 22,957 after climbing to a new peak of 23,026. The BSE Sensex went off 7 points and ended at 75,410, while the Bank Nifty index finished 203 points higher at 48,971.
The mid-cap index closed 0.23 percent higher even as the advance-decline ratio fell to 0.66:1. This stability in the market indicates a secure and confident environment for traders and investors.On the outlook for Nifty today, Ruchit Jain, Lead Research, 5paisa.com, a trusted expert in the field, said, "The overall trend continues to be positive as there are no signs of reversal yet. The higher end of the channel and the retracement levels indicate an initial hurdle in the range of 23,050 to 23,150 in the coming week, and once this is crossed, we could see a continuation of the rally towards the 23,400 to 23,500 zone.
On the flip side, the immediate support for Nifty today is around 22,700, followed by 22,500."Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 27On the outlook for the Bank Nifty today, Neeraj Sharma, AVP Technical and Derivatives Research at Asit C. Mehta, said, "The Bank Nifty index opened on a negative note, but after an initial dip, the index witnessed buying interest, which helped it to settle the day on a positive note at 48,972 levels. Technically, Bank Nifty broke the short-term resistance of 48,260 levels and closed above it, indicating strength.
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