Consolidation Dominates May<\/strong> – Nifty ended May on a marginally weaker note, with consolidation dominating market action throughout the month. The index remained range-bound amid mixed global cues and stock specific movements. As long as key support levels are sustained, the broader trend remains constructive, with a break from the current range likely to determine the next directional move.<\/p>\n The Benchmark indices are expected to begin June on a cautious note amid mixed global cues. Market activity may remain broad based and volatile, as today’s range could influence the overall trend for the month.<\/p>\n Nifty is likely to remain under pressure while trading below 23,700 and the 21 May low of 23,596. A break below Friday’s low of 23,485 could extend the decline towards 23,300. Unless the index decisively sustains above 23,700, traders may prefer a Sell-on-Rise approach. On the upside, 23,800 and 23,900 may act as immediate resistance levels.<\/p>\n Positional traders may adopt a wait-and-watch approach and consider fresh positions only after a confirmed breakout above today’s high or breakdown below today’s low.<\/p>\n Sectoral Focus<\/p>\n Bank, Finance, Metal, Auto, Oil&Gas, IT.<\/p>\n Stocks To Watch<\/p>\n NMDC, BEML, Interglobe Aviation, Gujarat Gas, Glenmark Pharma, IREDA, Olectra Greentech, Inox Wind, Lupin.<\/p>\n Maintain prudent stoploss discipline across all positions.<\/p>\n Wishing everyone an opportunistic day!<\/p>\n