Nifty InstaView 24 May’21: Knock Knock!

May 24, 2021

Nifty View: Benchmark index Nifty takes a break post the high momentum rally which we noticed last Friday. Today’s session was more of a consolidation of those gains without losing much-gained grounds. Momentum within the banking and realty space continued with metals stabilizing post a weak open. Nifty is now knocking the 100-point resistance zone within (15,250-15,350) which can offer some short term resistance, but eventually, the index should post a new life high soon. Once the banks slow down, it will be important for other heavyweights like RELIANCE to pick up momentum and hold onto the underlying uptrend. Continue with a bullish stance on the overall market.

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