The markets ended the day on a positive note with Nifty50 closing above the resistance level of 15,300.
The 30-share BSE index ended 379.99 points or 0.75 per cent higher at 51,017.52, and the broader NSE Nifty surged 93 points or 0.17 per cent to 15,301.45.
The top gainers were the Bajaj twins. Bajaj Finserv and Bajaj Finance closed the trading session with gains of 4.5 percent and 2.6 percent respectively. Among the sectoral indices, the Nifty IT acted as the major gainer in today's trade with the gains of over 1.7 percent.
Mohit Nigam, Head, PMS - Hem Securities said, "with Indices just shy of the February all time-highs, Thursday's expiry will be a crucial factor to determine the trajectory of the markets. Also, majority of the companies have declared their results. 15,200 will act as a support for the markets and they might inch towards new all time highs in the next few trading sessions," he said.
Sumeet Bagadia, Executive Director, Choice Broking said, "technically, the Nifty index has sustained above the prior week candle of Bullish Marubozu, which confirms the strong bullish trend in the counter. Moreover, on the daily time-frame, the index has been hovering above the Downward Slopping Trendline and 21-Days Moving Averages that suggests a bullish strength for the near term. In addition, an indicator MACD & Stochastic witnessed positive crossover, which suggests a bull-run for upcoming sessions. At present, the Nifty seems to have resistance at 15,450 levels while immediate support is placed at around 15,140 levels," he added.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said Wednesday (May 26) was a unique day for the market. At the beginning of the day, the market went down but it recovered immediately and continued to consolidate near 15,300. The good news is that the Nifty closed above 15,300. The biggest hurdle for the Nifty above 15,300 is 15,430 and we may see that on Thursday. The big support for the market is near 15250 and 15150,” he said.