Indian market recorded another strong day led by IT stocks, Banknifty underperform as now focus will shift to RBI MPC meeting next week.
US Market was closed on Monday on Memorial Day. US President Biden to meet US Fed chairman Jerome Powell on Tuesday. President said primarily responsibility of US Fed is to control inflation, he also said not to influence decision.
VIX @ 19.98: Cooled-off below 20 level, we expect VIX to remain in 20 – 22 range and volatility to remain low compared to last few weeks.
Approach on Indices: SGX Nifty indicates soft opening, another round of rally led by banking stock would not surprise, but after a day on consolidation.
After 3 days of rally, consolidation would be healthy and could provide entry opportunity. With result season now over, India’s Q4FY22 & FY22 GDP data will be released today. Our market will continue to take cues from global market and central banks meeting this month will remain in focus.
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Daily Report 31-May-22
Indian market recorded another strong day led by IT stocks, Banknifty underperform as now focus will shift to RBI MPC meeting next week.
US Market was closed on Monday on Memorial Day. US President Biden to meet US Fed chairman Jerome Powell on Tuesday. President said primarily responsibility of US Fed is to control inflation, he also said not to influence decision.
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