Bulls
wake up on the last day of may series f&o expiry 28 may 2020 & took
nifty above 9500 mark & made a high of 9511 & closed the day near 9500
mark at 9490. Today’s market rally supported by banking and auto
stocks. The Sensex zoomed 595 points at 32200.
We expect market would
remain volatile. The index formed a bullish candle on the daily scale and
needs to hold above 9500 to extend gains towards 9600, and then 9700 -9800
zone. Overall setup and momentum is positive and a hold of recent zones
could extend rally, while support exists at 9300 and then 9200 levels. It
has been making higher top and higher bottom formation and supports are
gradually shifting higher with medium term support at 9000.
Resistance: 9600, 9800
Support: 9300, 9000
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