Wipro 18% Blast, US-Iran Deal Hope, Oil Falls, Gift Nifty Gap Down! #nifty Pre Market - 29 May 2026

Añadido: 2026-05-31

[00:00:00]Hello everyone. This is the pre-market report video for today 29th May 2026 for the Indian stock market in terms of Nifty and Macy. At present early morning today gift nifty is trading at 23,875.

[00:00:14]If we assume the same 50 points premium that was present at Wednesday's spot market close then it's an indication of around 100 points gapped on opening.

[00:00:23]However, if you look at the whole day price action yesterday around 9:30 to 10:30 a.m. Standard time, it was indicating a much larger gap down over 400 to 350 points negative opening. Why?

[00:00:37]All thanks to the ambiguity around what is happening between US and Iran. So, let's understand it in simple terms using a timeline. It all started on Tuesday when US targeted and destroyed a couple of Iranian boats. US claimed that these boats were attempting to deploy sea mines. So they attacked them. Then again on Wednesday night, US carried out further strikes on additional boats and also sent fighter jets into Iranian territory. In response, Iran shot down the US drones and attacked the US fighter jets. That itself it's a serious escalation as it represents direct confrontation between the two countries.

[00:01:19]Then yesterday morning, Iran launched one-way attack drones towards the US airways in Qu. However, US military successfully intercepted these drones.

[00:01:29]So the chinetic confrontation between Iran and US was continuing the whole morning and afternoon, but at a relatively low intensity. Here when I say low intensity, I mean even at that time both Iran and US were accusing each other of violating the ceasefire.

[00:01:47]However, technically both sides were still maintaining their respective stance officially with the domestic media that the ceasefire was still in place. Now, attacking a US air base is clearly an escalation. However, it is important to note that even at the peak of this escalation when gift nifty was indicating a gap down of over 400 points, the reaction in oil price was limited. Oil price increased by only about 2% which is not very significant and US future market was barely negative like 2 or.3% only honestly I don't know why gift nifty was reacting this violently anyway those were negative not good for the market now let's talk about why it has turned around now last night because of all these developments US market opened negative however during the early hours of trade ing. There was a report released in Axios as per two US officials, US representatives and Iran representatives had reached the 60-day memorandum of understanding or MOU that the ceasefire could extend so both the parties could launch negotiations on Iran's nuclear program. That said, now as per the US officials, the agreed deal between US officials and Iran officials was briefed to US President Trump and he asked for a couple of days time to think about it. Hence, the ball is in Trump's court and it is all about his approval.

[00:03:20]So, what is in the 60-day ceasefire? As per Axios, Iran has to open the state of Hormus unrestricted for all ships. In exchange, US has to lift the ongoing naval blockage and in addition, Iran has to give the commitment to not pursue nuclear weapons. I mean, if there is an agreement in the next two days, then that would be a big breakthrough. Thus, as a consequence, oil price erased all the gains and reduced further. I mean, the snip is not justifying the drop. At the time of this recording, WT crude has fallen below $90 US per barrel and exactly at $88.7 US per barrel. Bren crude is trading at $92.67 per barrel. So in the end last night, US market closed positive. All three indices reached record highs. Dow Jones alone closed flat with mild positivity whereas S&P was up by 6% and NASDAQ increased near 1%. And one more important thing VIX dropped significantly from 17 to below 16. So the global momentum is very good. In this ambiguity around the US Iran conflict, market kind of ignored the important US macros. For example, PC inflation for the April month came at the highest value since 2023 at 3.8% and without food and fuel it was 3.3%. But the good thing here is year-over-year value came in line with the expectation and month over month came less than the expectation. Still it is the highest value since 2023. What is outright negative is the US GDP growth number for the Q1 quarter. Market was expecting the US to grow 2% but it actually grew only 1.6%. Either way last night market ignored it but next week it might react to it so it is worth knowing. Moving on about Indian ADRs as it is last night vipro had a dream run it increased 18.5% in one single session regarding the reason we'll discuss in a moment. In addition infosys also increased 2.5%. If you calculate the arbitrage then it is indicating a massive 5% positive difference. On the other hand both banks are indicating a significant negative arbitrage. here regarding the HTFC bank issue. I believe most people know about it but for everyone's benefit I would like to explain a bit. Apparently on Wednesday Indian Express released an article that HTFC bank paid an extra variable interest rate to Maharashtra road transport to attract large deposits. Giving variable interest rate is a violation of RB rules. So only I believe the stock fell on Wednesday and ADR has been falling in the last two days. HTFC bank management said they didn't do any wrongdoing but market is not believing it it seems. Then about VRO yesterday they announced the partnership with US-based cloud computing company called Service Now to integrate AI and cyber security in the workflow. Simply Vipro is going to do the digital transformation of that company making them AI adoptable. It's a new way of business. Hence market is cheering for this. Apparently Infosys and TCS and all Indian IT companies follow the same business model. So only I believe all IT stocks seems positive now. Anyway, let's see how much it translates in the Indian market today.

[00:06:55]Next up about institutions. Last Wednesday, FIA net sold for 1,50 cr rupees and DA net bought for 3,800 cr rupes. Regarding participant wise data analysis, if required, please pause and have a look. As a summary, there is a renewed and much deeper hope for a deal and opening the state of so market closed at record high. Oil price is trading at the lower level. Similarly, our IT stocks are indicating super positive. But for some reason, gift nifty is indicating a gap down opening.

[00:07:27]Don't know why. I personally believe short covering is pending for quite some time. Let's see. Then moving to our pre-market behavior analysis. Last Wednesday before our market opening, 49 people commented their view. Thank you so much to all who shared their Wednesday premarket view in the comment section. out of which 23 people were outright positive and 14 people expressed outright full day negative.

[00:07:53]Six people predicted the opposite first half negative, second half positive and six people predicted correctly first half positive and second half negative.

[00:08:03]So the takeaway is on the nifty expiry day the majority of the people predicted correctly but it seems for Sensex expiry including me we need more practice and more insight. Today is no expiry. I will let all know my view in the pin comment section like what I am expecting today in the Indian market with potential reason. I request all to share your views with possible reason so we all could read and learn from each other.

[00:08:29]Thank you so much. Kami technical on Wednesday Nifty opened 30 points gap down but rebounded to 23,980.

[00:08:37]However, as the day progressed, it gradually erased those gains and closed near 23,900. Thus, on the daily chart, Nifty formed a small bodied bullish candle with a noticeable upper shadow indicating pressure at higher level and facing the hurdle around the 50-day exping average which is around 24,000.

[00:08:55]In addition, it still held above the shorter moving averages 10 and 20 exping average. RSI at 51 turned sideways though it remained above the reference line. Hence, the immediate trading range would be at 23,800 to 24,000. A convincing breakout on the higher side can open the door for 24,00 to 24,300 zone. However, a break below the lower range can drag the Nifty towards 23,700 to 23,600. In case of Bank Nifty, it also opened 100 points gap down and traded similar to Nifty then closed at around 54,850. Thus on the daily chart, Bank Nifty formed a bearish candle with an upper shadow and like Nifty, it also sustained below the 50-day exping average on the closing basis for another session and faced resistance at the 50-day expensing average which is around 55,250.

[00:09:49]However, Bank Nifty still held above the 20-day exping average which is closer to the 38.2% Fibonacci retracement of the April rally. RSI declined further to 51 but sustained above the signal line.

[00:10:03]Hence the immediate resistance for bank nifty would be at 55,200 to 55,300 zone with support at 54,400 to 54,300.

[00:10:13]Regarding the options front, the maximum call option was at 24,000 strike followed by 24,500 and 24,200 with maximum new collapse rating at 24,500 24,000 and 24,700 strike. Whereas on the put side, the maximum openance was at 23,900 strike followed by 23,500 and 24,000 with maximum new putups ringing at 23,900 23,600 and 23,400 strike. That's from options data. It indicates that Nifty's key resistance is at 24,000 with key support at 23,900 level. So that's all in this video. Hope you got some information.

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[00:11:10]Thanks for watching. finger.