Nifty InstaView 27 May’21: Show of Strength

May 27, 2021


Nifty View: Benchmark index Nifty manages to show fine resilience as it managed to close well above the psychological 15K to mark the close of the derivatives expiry today. The index is close to its life high and considering the nature of the underlying momentum a possibility of a new life high is very high now. For the next two trading sessions, both Banks and Metals will be important sectors that can help the index sustain at the current levels. IT played a brilliant role just when it was needed and moving ahead it's the Metals (which has been correcting off late) that should post a bounce back. All eyes on SAIL, TATASTEEL, JSW and JINDAL. Immediate support for the index to watch for is at 15,250.

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