Outlook, Technical Call Of The Day & Top 5 Stocks In Focus For 29th May 2025
Nifty Index opened flattish and moved in a narrow band within the first hour’s tick. It moved within the range of 130 points for the rest of the session with a tug of war between the bulls and bears. Call writers are making the upside capped while support based buying is visible at support zones. It formed a small bodied bearish candle and an inside bar on the daily frame and closed with losses of around 70 points. Now it has to hold above 24700 zones for an up move towards 24900 then 25100 zones else weakness could be seen towards 24600 then 24450 zones.
On option front, Maximum Call OI is at 24800 then 25000 strike while Maximum Put OI is at 24500 then 24700 strike. Call writing is seen at 24800 then 25300 strike while Put writing is seen at 24750 then 24700 strike. Option data suggests a broader trading range in between 24300 to 25300 zones while an immediate range between 24500 to 25000 levels.
S&P BSE Sensex Index opened on a flat note and remained largely range bound for the most part of the session. The index oscillated within a narrow band of approximately 350 points and ultimately settled with a loss of around 200 points. On the daily chart, a bearish candles with upper and lower shadows was formed, reflecting intraday volatility and a lack of clear directional bias, underscoring indecisive market sentiment. Now it has to cross and hold above 81500 zones for an up move towards 81800 then 82100 zones else weakness could be seen towards 81000 then 80800 zones.
Bank Nifty Index opened on a flattish note but remained consolidative in a narrow range of 300 points in between 55250 to 55550 zones for the entire trading session. It formed an Inside Bar on daily scale as momentum is missing at either sides and hovering near its 20 DEMA to close on a flattish note near 55400 zones. Now it has to hold above 55250 zones for an up move towards 55750 then 56000 levels while on the downside support is seen at 55250 then 55000 zones.
Nifty future closed negative with losses of 0.46% at 24747 levels. Positive setup seen in LICI, CDSL, IGL, BHEL, M&M Finance, PI Industries, KEI Industries, Indus tower, HPCL, Canara Bank, Birla Soft and Polycab India while weakness in Escorts, Aurobindo Pharma, Titagarh Rail Systems, Shree Cement, IRCTC, IndusInd Bank, Torrent Power, Havells, Lupin, M&M, Petronet LNG and ABFRL.
NITCO - TECHNICAL CALL OF THE DAY
Stock has taken support near its 40-EMA levels and has bounced back from those levels indicating strong support. It is also trading above its key 100 and 200 EMA levels indicating strength in the stock price. A positive RSI divergence is visible in daily charts supported by positive supertrend indicators suggesting bullish implications.
BUY NITCO CMP 130.63 SL 124.75 TGT 135.58
Top 5 stocks to watch out for 29th May
RITES:
Rail India Technical and Economic Service (RITES) Limited has informed exchanges that it has entered into an MoU with M/s Shree Cement Limited for development of Rail Infrastructure and allied services.
Bata India:
Revenue for the quarter ended March 2025 stood at Rs 787.77 crore as compared to Rs 797.67 crore for Q4FY24. The Operating Profit stood at Rs 37.40 crore as against Rs 58.26 crore for Q4FY24. Despite continued market headwinds, Bata India witnessed volume led growth for the 2nd consecutive quarter led by Franchise and E-Commerce channels. The company continued expansion with a network of 1962 Company Owned Company Operated and Franchise stores driven by franchise model.
HG Infra:
The company has informed exchanges that it has received Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Ltd for 300 MW/600 MWh out of the project of 500 MW/1000 MWh for setting up of Standalone Battery Energy Storage Systems in Gujarat under Tariff-Based Competitive Bidding (Phase-VI).
Prestige Estates:
Prestige Group has successfully completed and inaugurated its first three landmark projects in Mumbai — Siesta at The Prestige City, Mulund, Prestige Jasdan Classic, Mahalaxmi, and Prestige Turf Tower, also in Mahalaxmi. These developments collectively span 2.8 million square feet and mark the Group’s significant debut delivery in the city since its Mumbai launch in 2022. The Group will be handing over nearly 700 premium residences and 130 office units in the coming months, reinforcing its commitment to timely delivery and exceptional quality.
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