Amid positive global markets, sentiment, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs) and futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Friday, May 28, 2021. 

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The domestic equity markets ended the volatile session with marginal gains on Thursday, May 27, 2021. Domestic stocks appreciated amid mixed global cues. The S&P BSE Sensex gained 97.70 points or 0.19 per cent to close at 51,115.22. The Nifty at the National Stock Exchange also added 36.40 points or 0.24 per cent to settle at 15,337.85. The Bank Nifty index rose 410.85 points or 1.18 per cent to settle at 35,095.05.  

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In the broader market, the BSE MidCap index rose 0.54 per cent and the BSE SmallCap index added 0.34 per cent. Both these indices outperformed the Sensex.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for May 28:

Day support zone on Nifty is 15,275-15,315, below that 15,150-15,210 is a strong Buy zone.

Day higher zone on Nifty is 15,375-15,425, above that 15,475-15,500 is a strong Sell zone.

Day support zone on Bank Nifty is 34,600-34,700, below that 34,400-34,525 is a strong Buy zone. 

Day higher zone on Bank Nifty is 35,425-35,575, above that 35,750-35,875 is a Profit-booking zone. 

The small day range for trading on Nifty is 15,275-15,400, while the medium and bigger ranges are 15,210-15,425 and 15,150-15,500, respectively. 

The small day range for trading on Bank Nifty is 34,700-35,425, while the medium and bigger ranges are 34,600-35,575 and 34,525-35,750, respectively. 

FIIs Index long at overbought level at 89% Vs 65%.

PCR unchanged at 1.38.

India VIX down by 5% at 19.91.

For Existing Long Positions:

Nifty intraday and closing stop loss are 15,200.

Bank Nifty intraday and closing stop loss are 34,400.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,450.

Bank Nifty intraday and closing stop loss are 35,300.  

For New Positions:

Buy Nifty with a stop loss of 15,200 and target 15,375, 15,425, 15,475, 15,500.

Aggressive Traders Sell Nifty ONLY IF IT BREAKS 15,250 LEVEL with a strict stop loss of 15,350 and target 15,210, 15,175, 15,150.

For New Positions:

Buy Bank Nifty in 34525-34700 range with a stop loss of 34,400 and target 34,950, 35,100, 35,200, 35,275, 35,425, 35,500.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 34,875 and target 35,275, 35,425, 35,500, 35,575, 35,750, 35,800, 35,875.

Sell Bank Nifty in 35,575-35,800 range with a stop loss of 35,900 and target 35,500, 35,425, 35,300, 35,225, 35,100.

F&O Ban Update:

2 Out Of Ban: Amara Raja, Canara Bank

Already In Ban: Nil

New In Ban: Nil