InvestorQ : What is your view for the stock market trend on Wednesday 26 May? Do you see the Nifty and Sensex rallying further?
Mary Joseph made post

What is your view for the stock market trend on Wednesday 26 May? Do you see the Nifty and Sensex rallying further?

Answer
image
diksha shah answered.
4 weeks ago
Follow

On Tuesday, Nifty rallied but eventually corrected and closed just 10 points higher. However, Wednesday is likely to be banking and clearing holiday so traders may go slow on the markets. Don’t expect too much action on Wednesday. Markets are likely to remain subdued through most of the day.

Interestingly, the advance to decline ratio or the A/D ratio was very favourable 38:11 and did not signal a market that corrected so sharply in the last two hours. That is largely because the correction was broadly limited to banks and financials while the metals and paint companies did very well on Tuesday on results expectations.

FPI action was once again very positive on Tuesday with net buying of Rs.960 crore although the domestic institutions sold Rs.564 crore on of equities Tuesday. Nifty has been up in five of the last seven days, but the big news for the markets could the forthcoming talks of stimulus that the government is likely to announce to alleviate macro problems.

Global markets were relatively tepid and lacklustre with markets across the US and Europe hardly showing any move that is decisive. Even the SGX Nifty is looking a tad weak in early trades and there is likely to be some tiring of markets on Wednesday, a day ahead of the F&O expiry. Most short term traders would take it easy on Wednesday due to bank holiday.
22 Views