The Indian stock market witnessed a strong rebound on Monday following positive global market sentiments on de-escalation in the US-Iran war. According to reports from LiveMint, the Nifty 50 index shot up 312 points and closed at 24,031, while the BSE Sensex skyrocketed 1,073 points and closed at 76,488. The Bank Nifty index finished 1,238 points higher at 55,293, with sectoral participation remaining robust across rate-sensitive segments including banking, financials, auto, and realty.
The Gift Nifty Live Chart is trading green with marginal gains over the spot Nifty close on Monday, hinting at a sideways to positive start on Dalal Street. As reported by LiveMint, by 7:10 AM, the index was trading around 24,050, providing early indicators for the market opening. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Gift Nifty is signalling a sideways-to-positive start, with the index trading green against the spot Nifty close. However, latest analysis from Univest reveals Gift Nifty is signalling a gap-up of 215 points above the 24,200 level, creating the most bullish expiry-day setup of the month.
According to Vaishali Parekh's analysis reported by LiveMint, the Nifty 50 index witnessed a strong breakout above the resistance hurdle of the 23,800 zone and closed above the 24,000 level. The expert predicts the index may ascend to 24,300 levels in the coming days, with the 23,800 zone as the near-term support that needs to be sustained. For Bank Nifty, Parekh noted the key benchmark index indicated a strong bullish candle formation, breaching above the 55,000 zone with a bias improving considerably, targeting the 57,000 zone of the 200-period MA. Univest analysis confirms this bullish momentum, with the bull target set at 24,400 through Tuesday's expiry session.
Tuesday 26 May represents a critical monthly expiry day for both Nifty and Bank Nifty options, creating unique trading dynamics. As per Univest analysis, the Nifty 50 prediction for tomorrow is the most technically complex session of May with the index at 24,031 and estimated Max Pain at approximately 23,900 to 24,000. The GIFT Nifty +215 points signal pushes the opening above Max Pain by 215 points, creating a classic expiry-day gap-up scenario where call writers must cover before the open. Univest recommends buying Nifty May 24,200 CE at open if GIFT Nifty signal holds overnight, targeting 24,400 with stop loss at Nifty dropping below 24,000 at the open. The analysis warns of potential 'buy the morning, sell the afternoon' patterns, recommending exit all intraday positions by 3:00 PM IST.
