Indian market rallied sharply on last day of F&O expiry for may series. In a highly volatile session, at one point Nifty was at 15900 level but recovered sharply to close above 16100 level.
Wall Street rallied 1.61% to 2.68% as result and weak economic data kept market upbeat. Dollar Index currently @ 101.495, significantly below 105 level seen recently. Dollar index decline – indicates risk-on sentiment.
VIX @ 22.84: decline 9.67% – significant cool-off from 25 level. VIX could hold above 20 level as we are heading for RBI MPC meeting on 8-Jun & US FOMC meeting outcome on 15-Jun-22. We will turn cautious only if VIX goes above 25 again.
Finally, the shake-off is over with F&O expiry series for May 2022? We believe highly volatile & wild swings may be behind us. Time to play for decent bounce back rally before some reality check again in next quarterly result season with begins on 1st week of July.
SGX Nifty @ 16267.50 up 91.50 points at 8:15 AM
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Daily Report 27-May-22
Indian market rallied sharply on last day of F&O expiry for may series. In a highly volatile session, at one point Nifty was at 15900 level but recovered sharply to close above 16100 level.
Wall Street rallied 1.61% to 2.68% as result and weak economic data kept market upbeat. Dollar Index currently @ 101.495, significantly below 105 level seen recently. Dollar index decline – indicates risk-on sentiment.
SGX Nifty @ 16267.50 up 91.50 points at 8:15 AM
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