Will the stock market rally continue before the election? Hidden Writer

The BIST 100 index did almost positive yesterday, close to the horizontal.

At the close, an increase of +3.07 points was recorded and a value gain of 0.07% was recorded and the index closed at the level of 4,427 points. The number of businesses in the index continues to be limited.

While a transaction volume of 35.2 billion TL was achieved yesterday, this figure remained below the May average of 52.9 billion TL. It was found that while 54 stocks included in the index varied positively, 41 stocks lost value. While Akbank was the leading part of the positive difference, the bank index increased by 106.97 points and closed at 3,898 points.

Only İşbank (ISBTR) deviated negatively from the stocks included in the banking index. Today, the index started the day with an increase of 0.32% to 4,442 points.

Although global stock markets are mixed with the debt ceiling crisis in the United States and expectations of the Fed’s monetary policy being uncertain again, we can see a volatile situation in the last trading day before the second round of the 13th Presidential Election that will be held . Sunday, May 28.

According to the decision announced by CBRT yesterday, the Financial Policy Committee decided to set the one-week repo auction which is the policy rate at 8.5 percent.

There are no major changes in the text of the decision. By closely monitoring the impact of the earthquake-induced supply-demand imbalance on inflation, it was stated that the stance of monetary policy was sufficient to support the recovery needed after the earthquake by maintaining price stability and financial stability. . It was emphasized again that the Education Strategy will continue to be implemented with all its components.

At the time of writing, the index, which has a positive outlook, is followed as the first point of resistance at 4,470 points during the day.

If the upward movement accelerates, the 200-day simple moving average of 4.496 points and the middle Bollinger band and the level of 4.550 points near the 15-day moving average can be viewed as resistance areas.

4.450 points will be on our agenda as the first point of support in possible effects. Here, along with the strengthening of sales, the pressure that may occur in the report may lead to a return to the levels of 4,400 points and 4,360 points.

Support: 4.450 – 4.400 – 4.360

Resistance: 4,470 – 4,496 – 4,550

Source: Ahlatcı Investment

Hibya News Agency