Markets may see a mixed day today

31 May 2023 , 09:00 AM

Indian markets may be up for a mixed day today. Yesterday, markets closed on a positive note after juggling between ups and downs. Market may continue to see buying at declines.

Yesterday, US markets closed in a mixed sentiment. Dow Jones ended 50 points lower. S&P 500 closed on a flat note. Nasdaq ended the day with a gain of 41 points.

Asian stocks slipped on Wednesday owing to the growing skepticism about the world’s second-largest economy, China, on account of weak data. 

The Shanghai Composite is trading 0.64% lower. Hong Kong’s Hang Seng is trading with a 2.29% decline. Japan’s Nikkei dropped 1.12% in its previous session. Taiwan index is trading with a 0.44% downside. South Korean ‘Kospi’ is also trading with a marginal decline.

Indian benchmark index Nifty ended the day with a gain of 35 points. Nifty Bank closed 0.24% higher. ITC, HDFC Life, and Bajaj Finserv were the top gainers yesterday. Hindalco, Adani Enterprises, and Tata Steel were the top laggards. Nifty Mid-cap closed 0.38% higher.

Technical View: Nifty finds support around 18450 while 18700 will act as resistance. Bank Nifty finds support around 44000 while 44800 will act as resistance on the upside.

Trading call:(1-14 days) BUY L&T June future @ 2225-2235, stop loss 2185.5 & target 2275

Derivative call-time period: (1 month) Sell HDFC LIFE June future @ 585-590, stop loss 599.2 & target 575