Stockgram

TRADE SET UP
Directionless day for US equities; SPX -0.04%, Nasdaq +0.28%
UST 30y yield hit 5.15% intraday, pulled back 10 bps on dip buying ahead of the long weekend
UST 10y yield -7 bps to 4.52%
Dollar Index struggled to move meaningfully above 100.00, ended near 99.90
US markets are shut on Monday for Memorial Day
House Republicans pass the revised tax bill and send it to the Senate
July 4 remains the goal date for the Trump team to pass the bill
US PMIs surprised to the upside for May
The US Treasury announced $183 billion in supply for next week (auctions on Tues, Wed, Thurs)
Nifty managed to close above the 20-day MA (24,525)
The downside level which should hold is 24,462 (yesterday’s low)
On the upside, Nifty needs to take out the high of 25,116
Bank Nifty broke the 20-day MA but managed to close above it
On the way down, swing low of 54,690 & then 54,031 are important

 #CNBCTV18Market | GIFT Nifty higher, trading at a premium of nearly 50 pts from Nifty Fut Thursday close, indicates a start in the green for the Indian market pic.twitter.com/nMbKVOpjXz

— CNBC-TV18 (@CNBCTV18Live) May 23, 2025



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