Markets may see a positive day today

30 May 2023 , 09:11 AM

Indian markets could witness a flat to positive day today. Yesterday, markets closed in the green territory. 

US markets closed higher on Friday. Nasdaq gained 278 points. S&P 500 was up by 54 points on Friday. Dow Jones ended 328 points higher.

Asian Markets are in mixed cues today. Chinese and Hong Kong shares decline. The Shanghai Composite is down by 0.29% while Hang Sang is trading 0.42% lower. Japan’s Nikkei is not trading. On the other hand, Taiwan’s index is trading marginally higher. South Korean ‘Kospi’ is trading with a gain of 0.88%.

Nifty was in an uptrend yesterday, with a gain of over 99 points. Bank Nifty closed 0.67% higher. Mahindra & Mahindra, Titan, and Coal India led the gainers. ONGC, Divis Lab, and Power Grid were the top NSE losers. Nifty Midcap 50 index closed higher by 0.44%.

Technical View: Nifty finds support around 18350 while 18700 will act as resistance. Bank Nifty finds support around 44000 while 44700 will act as resistance on the upside.

Trading call:(1-14 days) BUY Cipla June future @ 955-960, stop loss 937.85 & target 977

Derivative call-time period: (1 month) BUY Dabur June future @ 547-552, stop loss 538.05 & target 560