Domestic stocks logged strong gains in the week ended Friday, 26 May 2017 led by steady buying in index heavyweights ITC, ICICI Bank and Infosys. The barometer index, the S&P BSE SENSEX, scaled record high above the psychological 31,000 mark. The SENSEX and the Nifty, both, hit record closing high. In the week ended Friday, 26 May 2017, the SENSEX jumped 563.29 points or 1.85% to settle at 31,028.21, a record closing high. The Nifty 50 index surged 167.20 points or 1.77% to settle at 9,595.10, a record closing high. Markit Economics will announce the India Manufacturing Purchasing Managers’ Index (PMI) data for May 2017 on Thursday, 1 June 2017. The Nikkei Manufacturing PMI in India stood at 52.5 in April 2017, the same as in March.
Nifty Trend Prediction
TREND: CONSOLIDATE TO BULLISH
RESISTANCE: 9661, 9747
SUPPORT: 9415, 9254
APPROACH: BUY ON DIPS
Nifty Weekly Update for 29th May to 2nd June
AXISBANK FUTURE IS LOOKING TECHNICALLY STRONG ON DAILY CHART. MACD IS SHOWING BUYING CROSSOVER. BUY AXISBANK FUTURE ABOVE 516 TARGET 521 STOPLOSS 506