Morning Market Views:

The index is currently trading in a range-bound to bullish zones after recent volatility, with price action surpassing above 24900 levels. Technically, the index is showing signs of bullish move supported by buying on dips and improving momentum indicators like RSI moving toward bullish levels. On the flip side, 23600-23700 remains immediate support for the index. Bank Nifty have been under strong reversal mode now as broad-based buying was seen in the private sector banking stocks followed by select PSU banking stocks. The overall trend of the index is now good with good buying expected today after the recent moves. The sentiment on the street will remain bullish with support for the index placed around 54500-54700 while 55500 remains resistance for the day. Stocks In News Trident: Avneesh Barua resigned as Chief Financial Officer due to personal reasons, effective May 30. $BEL : Company secured additional orders worth Rs 608 crore since May 5. Tata Communications: Company issued commercial papers worth Rs 300 crore. $PAYTM : Paytm Cloud Technologies will invest 9 million euros in Paytm Europe. HFCL: Company received Rs 138.75 crore warrant subscription and allotted warrants to NextWave and Satellite Finance. $MARUTI : CCI case related to the company adjourned to May 27. $WIPRO : Company issued public announcement for upcoming share buyback offer. HealthCare Global: Manish Mattoo to relinquish additional charge as CFO effective May 25. EFC (I): Company allotted 1.06 crore shares under rights issue at Rs 150/share. Total issue size stood at Rs 159.94 crore. CMS Info Systems: Share buyback to open on May 29 and close on June 4. Record date fixed as May 22. LG Electronics: Company eligible to receive Rs 882 crore from Maharashtra government under revised incentive package. Stove Kraft: Company incorporated new arm in China and approved 50:50 joint venture with Ningbo Wochi.