Indian Stock Market Outlook for May 26: Key Trends in Nifty 50 and Sensex

Indian stock markets today The Indian equity market ended on Friday with a significant gain when Nifty 50 closed over the 24,800 mark.

The Sensex prediction, The index climbed by 769.09 points, which is an increase of 0.95 percent increase. The final number was at 81,721.08 and the Nifty 50 It climbed 243.45 points, or 0.99 percent to close at 24,853.15.

Today's analysis covers projected movements for Sensex, gift Nifty and Bank Nifty outlook.

Sensex Prediction

Senex showed a positive reversal pattern on daily charts while its price remains above the 20 day SMA which indicates good momentum.

Short-term traders should watch 80,900 and 80,500 as major support zones while bulls will find 82,300 to be their immediate resistance level. A successful movement beyond 82.300 might propel the Sensex to reach between 82,700 and 83,600.

Nifty OI Data

The heavy call writing at Nifty call put ratio,000 and 25,500 strike prices indicates strong resistance and strong put writing at 24,500 strike price demonstrates solid support. The trading range between 24,500 and 25,100 appears to be well-balanced.

Nifty 50 Prediction

Bank Nifty today achieved a 0.99% gain to close at 24,853.15 on May 23 but dropped 0.67% compared to the previous week's closing level. The weekly chart shows a small bear candle formation with a lengthy lower shadow for the index.

The bank nifty technical strategy maintained support at the 21-Day Exponential Moving Average (21-DEMA) while creating a bullish candle on the daily chart which shows market strength.

According to Dr. Praveen Dwarakanath, Vice President of Hedged.in the Nifty 50 index encountered resistance at 25,200 but found support at 24,500.

Bank Nifty Prediction

Bank Nifty index rose 456.95 points to finish at 55,398.25 on Friday and closed with a doji candle showing a long lower shadow on the weekly chart which indicates market consolidation combined with buying pressure at lower levels.

According to Hrishikesh Yedve the Bank Nifty index displayed strength through the formation of a green candle after a hammer candle on the daily chart.