Market Prediction for tomorrow 28 May: Today’s market was a rollercoaster, testing the patience and skill of every trader. As we predicted in yesterday’s post, the Sensex monthly expiry brought with it heightened volatility—and that’s exactly what played out.
While inexperienced traders may have found themselves trapped in both directions, experienced traders got multiple opportunities to trade within the 300-point swing Nifty offered. India VIX continues to rise, and such spikes often signal upcoming instability. So, let’s decode the data and dive into the Market Prediction for Tomorrow 28 May.
Market Overview – Volatility Takes the Wheel 🔍
Nifty 50 Snapshot 📊
Open – 24,956.65
High – 25,062
Low- 24,704
Close- 24,826
Market Breadth 📈
- Advances: 6
- Flat (<0.25%): 10
- Declines: 34
Nifty Movers 🏦
Top Gainers Jio Finance +3.87%
Top Losers – Ultratech Cem -2.21%
Sectoral Performance 🔍
- Green Sectors: Pharma, Realty, PSU Banks – avg gain of 0.25%
- Weak Sectors: All other sectors closed in red, with losses under -0.80%
Sectoral view suggests a weak undertone despite intraday rallies.
Technical Analysis – A Reversal or Just a Pause?
Nifty again crossed 25,000 but failed to sustain, dropping back and closing below key levels. On the daily chart, today’s candle appears to be a retracement candle with long wicks and a small body—often a sign of indecision or reversal.
Key Levels:
- Support: 24,800 – 24,700
- Resistance: 25,000 – 25,100 (today’s high: 25,062)
RSI:
- Daily RSI: Turning bearish, may slip towards 40 if weakness continues.
- Hourly RSI: Currently in an indecisive zone with bearish bias.
Open Interest (OI) Data 📊
- Max Call OI: 25,000 – 1.28 Cr contracts
- Max Put OI: 24,500 – 86 Lakh contracts
OI Build-Up 🧮
Index Price Change OI Change Build-Up Nifty -0.69% -2.83% Long Unwinding Bank Nifty -0.39% -0.18% Long Unwinding FinNifty -0.62% +1.61% Short Buildup
- Nifty 50 – Long Unwinding.
- Bank Nifty – Long unwinding
- Fin Nifty – Short Buildup.
OI data indicates bearishness, especially with long positions being unwound and short buildup in FinNifty.
Market Prediction for tomorrow 28 May & Trade Plan 🧠
- If 25,065 is broken on the upside, we may see a 200–300 point rally.
- But if 24,700 breaks, then 24,500 and even 24,100 can come into play.
- Traders should prepare for wild swings and adopt a reactive rather than predictive approach in such environments.
With VIX rising and mixed signals from global and domestic fronts, expect more volatility. Wait for confirmations before entering and stick to position sizing.
Key Learning from Today’s Market 📘
- Volatility is both opportunity and danger. Adapt your strategy accordingly.
- Never chase trades in panic zones—wait for your setup.
- Range-bound markets can be tricky—learn to sit out if conditions aren’t clear.
Learn Option Trading – Strategy & Psychology
📣 What’s Your Take?
Do you think we’ll hold 24,800 or break down further this week? Let’s hear your view in the comments below!
Disclaimer
This blog post is intended for educational purposes only. All insights are based on data analysis and market observation. We do not provide buy/sell recommendations. Please consult a SEBI-registered advisor before making any financial decisions. The author and website are not liable for any profit or loss resulting from the information shared above.