MARKET ANALYSIS FOR 27TH MAY #NIFTY #BANKNIFTY

 NAMSKAR DOSTO !

1. NIFTY- Nifty open at 16105 and close at 16170 in cash , Making a bullish hammer pattern. previous IN blog I gave bearish view which sustain for 2 hours and then nifty reverse from the 15900 support and ended up closing in 144 points positive
2. Now current view is bullish till 16400, todays upside move leads by majorly banks
   support 16000-15900
   Resistance 16350-400
3. BANKNIFTY - as I said Before Banknifty in range might break upside , which break 34700-750 zone and ended up closing
   750 points up (2.2%) captured (go check telegram)
4. Banknifty breakout done by HDFCBANK(2.8),ICICI bank(2%) & SBI(3.2%). Banknifty close at 35090 , upside possible move
  35400-600
  Support - 34750-700  Resistance - 35400-35750
5. Nifty Metal also make strong Green candle in Daily Timeframe , possible reversal if nifty metal index sustain above 5200
   Tata steel (5.2%), Jsw steel (4.4%) , Hindalco (2.7%) also gave strong closing
6. Banks ,HDFC twins should be in focus for tomorrow
7. Nifty midcap took a crucial support in daily time frame
8. Fed embraces 50-basis-point rate hikes in June, July to curb 'very high' inflation.

9. Hindalco Q4 results are out profit doubles & revenue rises 38% YoY 

10. DOW now 400+ points high chances of recovery Now but lets wait for the closing ;)

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