Indian market on Friday witness mega short covering rally, Indices recovered entire loss made on Thursday.
Wall Street recovered in last 50 min of market closing on Friday to recover all the loss and end the day flat.
On Saturday, FM cut excise duty on Petrol by Rs 8 & Diesel by Rs 6 – which will be approx. revenue loss for government at Rs 1 lakh crore per year. Government plan to increase borrowing by the same amount this fiscal.
VIX @ 23.10 – trading above 20 comfort level & in case moves above 25 – volatility could even get ugly.
Market entering into final F&O week with mix set of cues and highest volatility seen last week. We expect volatility to continue to be over 300 – 400 points move on Nifty on daily basis. With inflation in focus – Global cues will continue to drive market.
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Daily Report 23-May-22
Indian market on Friday witness mega short covering rally, Indices recovered entire loss made on Thursday.
Wall Street recovered in last 50 min of market closing on Friday to recover all the loss and end the day flat.
On Saturday, FM cut excise duty on Petrol by Rs 8 & Diesel by Rs 6 – which will be approx. revenue loss for government at Rs 1 lakh crore per year. Government plan to increase borrowing by the same amount this fiscal.
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