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Stock Market Daily Updates: 25 May 2021

Nifty Future has Downside support levels are at 15133 – 15088 Point; below 15088 Point, other support levels are at 15008 - 14970 Point.

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Dear Trader…

Indian equity benchmarks traded volatile and ended marginally in the green on Monday, helped by gains in heavyweight financial stocks. Traders took some support as India reported Covid-19 cases below the 250,000-mark for the second consecutive. The fresh caseload stood at 2.4 lakh. Amid a drop in cases, a few states have hinted at the possibility of easing lockdown from next month onwards.

Some support also came in with a private report stating that the RBI surprised the Centre with a record Rs 99,122 crore in surplus transfer for FY21 and this will help the government tide over the revenue losses from lockdowns and extend more support to the pandemic hit industries and to the poor people.

FII and FPIs, on Monday saw a net purchase of Rs 585.36 crore in the cash segment. A total of Rs 7245.19 crore was sold against a total purchase of Rs 7830.55 crore. Domestic institutional investors today saw a net sold of Rs 707.69 crore in the cash segment. A total of Rs 6036.82 crore was sold against a total purchase of Rs 5329.13 crore. gains remain capped as some concern came with rating agency ICRA stating that slackening economic momentum driven by the second wave of Covid-19 infections in India has emerged as a concern with bruised sentiment, high healthcare costs and fuel expenses likely to limit discretionary purchases in the immediate term.

Some anxiety also came as overseas investors withdrew Rs 4,444 crore from Indian markets in May so far amid concerns over the second wave of the coronavirus pandemic and its possible impact on the Indian economy.

Technically, the important key resistances are placed at 15008 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 15272 – 15303 levels. Immediate support is placed at 14970 – 14888 levels.

Ø INDEX MOVEMENT - 25.05.2021

Ø Nifty Future closed @ 15202 as on 24.05.2021..!!

Nifty Future has resistance at 15232 – 15288 Point; above which other resistance levels are at 15303 - 15373 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 15133 – 15088 Point; below 15088 Point, other support levels are at 15008 - 14970 Point.

I am positive for the next bullish trend only above @ 15303 Point but be with the trend. Let the market decide further moves.

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Nifty Future crosses @ 15303 Point, again then the upper side target is quite high and it may touch @ 15373 Point in the short term...!!!

Ø Bank Nifty Future closed @ 34998 as on 24.05.2021..!!

Bank Nifty Future has resistance at 35008 – 35188 Point; above which other resistance levels are at 35232 – 35350 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 34737 – 34606 Point; below 34606 Point, other support levels are at 34474 – 34303 Point.

I am positive for the next bullish trend only above @ 35350 Point but be with the trend. Let the market decide further moves. As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Bank Nifty Future crosses @ 35350 Point, again then the upper side target is quite high and it may touch @ 35474 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

Ø PIRAMAL ENT. FO @ CLOSED @ RS 1695

Positive Trend @ Rs 1695 / 1660 with Stoploss of Rs @ 1644 for the Target near @ Rs 1707 - 1717 in short term…..!!!

Ø BATA INDIA FO @ CLOSED @ RS 1509

Positive Trend @ Rs 1509 / 1484 with Stoploss of Rs @ 1470 for the Target near @ Rs 1533 - 1540 in short term…..!!!

Ø LUPIN LTD FO @ CLOSED @ RS 1206

Positive Trend @ Rs 1206 / 1188 with Stoploss of Rs @ 1173 for the Target near @ Rs 1222 - 1230 in short term…..!!!

Ø HCL TECHNO. FO @ CLOSED @ RS 932

Positive Trend @ Rs 932 / 919 with Stoploss of Rs @ 912 for the Target near @ Rs 944 - 960 in short term…..!!!

Ø LARSEN LTD FO @ CLOSED @ RS 1445

Negative Trend @ Rs 1445 / 1470 with Stop loss of Rs @ 1484 for the Target near @ Rs 1427 - 1414 in short term...!!!

Ø INFOSYS LTD FO @ CLOSED @ RS 1352

Negative Trend @ Rs 1352 / 1377 with Stop loss of Rs @ 1383 for the Target near @ Rs 1337 - 1324 in short term...!!!

Ø HAVELLS INDIA FO @ CLOSED @ RS 1016

Negative Trend @ Rs 1016 / 1047 with Stop loss of Rs @ 1054 for the Target near @ Rs 1002 - 990 in short term...!!!

Ø RAMCO CEMENT FO @ CLOSED @ RS 969

Negative Trend @ Rs 969 / 990 with Stop loss of Rs @ 1008 for the Target near @ Rs 953 – 940 in short term...!!!

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Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Nikhil Bhatt | Research Analyst - SEBI

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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