Nifty ended volatile session with minor gain of 0.53% on Nifty, 1.03% gain on BSE Sensex & Banknifty gained 3.90% on weekly basis.
We would like to highlight focus on Mid-Cap 100 which ended -0.77% & Small-Cap 100 which was down by 3.42% on weekly basis. VIX was down 7% at 21.48.
US market witness major fall in week between 23-Apr-22 to 27-Apr-22, so if compared US market from 20-Apr-22, US indices are still down by 5.4% to 9.83% on Nasdaq mentioned below. Please find change compared 27-May to 29-Apr & 20-Apr-22.
We change our approach to “Play for June – Technical bounce” before market do a reality check in Q1FY23 result season which starts from 1st or 2nd week on July. We may review our view in case recent lows around 15780 are tested and sudden change in narrative as we witness this week.
Key events this month to watch out for will be Central banks meeting which we expect would like to avoid recession and allow higher inflation for some more time before they move towards tight monitory policy.
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28-May-22 Technical & Fundamental Insight
US market witness major fall in week between 23-Apr-22 to 27-Apr-22, so if compared US market from 20-Apr-22, US indices are still down by 5.4% to 9.83% on Nasdaq mentioned below. Please find change compared 27-May to 29-Apr & 20-Apr-22
Today instead of chart comparison, we would like to focus on recovery on Indices from the point where recent fall started that is around 20-Apr-22 whether it can sustain.
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