Gift Nifty at 22,090 against Nifty May futures value of 22,140 indicates a downward bias. For the week, Nifty and Sensex closed with losses of 1.9 per cent and 1.6 per cent, underperforming global markets. According to him, Bank Nifty continued its slide for the seventh consecutive day and closed 67 points lower at 47,421. “Strong call writing was observed at the 47,500 Strike in Bank Nifty. An up move is likely in Bank Nifty if call writers exit from the 47,500 Strike,” he further said.

Source: The Hindu May 13, 2024 07:15 UTC