📈 DAILY MARKET UPDATE
📅 Date – 29 May 2026
1️⃣ VERY IMPORTANT NEWS
• US–Iran tensions remain volatile, but reports suggest both countries may move toward a 60-day ceasefire agreement and nuclear negotiations.
• Crude oil prices corrected sharply after reports of possible easing in geopolitical tensions. Brent slipped near $92 and WTI below $89.
• Indian IT stocks likely to stay in focus after strong rally in US-listed ADRs. Wipro ADR surged 18.5% after AI & cybersecurity partnership with ServiceNow.
🌍 GLOBAL MARKET
✔️ US Markets:
• S&P 500 +0.58% and Nasdaq +0.91% hit fresh record highs.
• Dow Jones closed marginally positive at +0.05%.
• Market sentiment improved after ceasefire-extension reports between US and Iran.
✔️ Asia Market Update:
• Japan Nikkei +0.88%
• TOPIX +0.53%
• Australia ASX 200 +0.72%
• Asian markets trading positive on easing geopolitical fears.
✔️ Gift Nifty Signal:
• Gift Nifty around 23,900.
✔️ Crude Oil:
• Brent Crude near $92.67/barrel.
• WTI Crude near $88.7/barrel.
• Oil corrected sharply after ceasefire-extension news.
✔️ Dollar Index:
• Dollar softened slightly after weaker US GDP data.
✔️ Volatility Index (VIX US):
• US VIX dropped below 16 from 17.
• Indicates cooling global fear sentiment.
🇮🇳 INDIAN MARKET OVERVIEW
✔️ Sector Trend:
• Positive: IT, Media
• Weak: Banking, Financials, PSU Banks
✔️ Market Sentiment / Trend:
• Market remains rangebound with positive undertone.
• 24,000–24,200 remains crucial breakout zone for Nifty.
• Geopolitical headlines will continue to drive volatility.
✔️ Volatility (India VIX):
• India VIX fell 7.12% to 14.98.
• Lower VIX indicates reduced panic but sudden spikes possible.
💰 FII & DII DATA
✔️ FIIs:
• FIIs net sold around ₹1,043 Cr.
• Monthly outflow crossed ₹27,000 Cr.
✔️ DIIs:
• DIIs net bought around ₹3,800 Cr.
📊 COMMODITIES UPDATE
✔️ Crude:
• Oil prices corrected after possible US-Iran ceasefire extension talks.
✔️ Gold:
• Gold rebounded more than 1% after recent sharp fall.
✔️ Silver:
• Silver remained stable with positive recovery bias.
📊 OPTIONS DATA (OI BUILD-UP)
✔️ Call OI:
• Highest Call OI at 24,000 strike.
• Heavy call writing at 24,000 and 24,500.
✔️ Put OI:
• Highest Put OI at 23,900 strike.
• Strong put writing seen at 23,900 and 23,600.
✔️ PCR:
• Nifty PCR slipped near 1.02.
• Indicates cautious to neutral sentiment.
📈 NIFTY LEVELS
✔️ Trend:
• Sideways to Positive
• Immediate Support:
• 23,800
• Major Support:
• 23,700 – 23,600
• Immediate Resistance:
• 24,000
• Strong Resistance:
• 24,200 – 24,300
📉 BANK NIFTY LEVELS
✔️ Trend:
• Weak to Sideways
• Immediate Support:
• 54,400
• Major Support:
• 54,300 – 54,000
• Immediate Resistance:
• 55,200
• Strong Resistance:
• 55,300 – 55,500
📊 STOCKS / SECTORS IN NEWS
• Wipro surged in ADR market after partnership with ServiceNow for AI & cybersecurity solutions.
• Infosys ADR gained strongly; IT sector sentiment positive.
• HDFC Bank under pressure after reports regarding deposit interest-rate compliance concerns.
📊 STOCK SETUPS TO WATCH
• IT Stocks – Positive momentum after strong ADR rally.
• Media Sector – Showing relative strength.
• Banking Stocks – Weakness may continue below resistance zones.
🎯 EXPECTED TRADING RANGE TODAY
✔️ Nifty Range:
• 23,800 – 24,200
✔️ Bank Nifty Range:
• 54,300 – 55,300
📅 IMPORTANT DATA / EVENTS TODAY
• Updates on US–Iran ceasefire negotiations.
• Global crude oil movement and US market reaction.
🎯 INTRADAY TRADING VIEW
👉 Market likely to remain highly headline-driven. IT sector may outperform, while banking stocks could remain under pressure. Watch 24,000 level closely for breakout or rejection.
📌 QUICK SUMMARY
• Global markets strong after easing US-Iran tensions.
• Crude oil corrected sharply, positive for Indian markets.
• IT stocks may lead today; banking sector remains weak.
• Nifty needs sustained move above 24,200 for fresh rally.
• Volatility reduced, but geopolitical headlines can trigger sudden swings.