Market Update - May 31: Negative Start Indicated by SGX Nifty

Market Update

SGX Nifty indicates a negative start for the broader index, with a loss of 54.5 points after opening the session at 18,673. SGX futures touched a high of 18,760 in early trade on May 31.

The BSE Sensex gained 122 points to close at 62,969 on Tuesday, while the Nifty 50 closed 35 points higher at 18,633. The Nifty50 traded comfortably higher than its 200-day moving average of 18,221 and is expected to build on the recent momentum.

Pivot Charts Analysis

As per pivot charts, the Nifty may get support at 18,591, followed by 18,570 and 18,537. If the index advances, 18,657 would be the key resistance level to watch out for followed by 18,678 and 18,711.