Market Musings | 22 May 2022
Key developments over the last couple of days:
- Central Government reducing excise duty on Petrol/Diesel
- RBI transferring Rs.30,307 crore surplus money to the Government
- China reducing the rates
- Dow recovering most of the fall on Friday
- Monsoon appears to be on time and expected to be normal
Some of the above are factored in the market, at least partially, on Friday itself but I am expecting bullish sentiment to continue this week.
Friday EoD data suggests both Pros and FIIs are bullish to start with. Do not hold me on this but, ceteris paribus, 16800 for Nifty 50 and 35650 for Nifty Bank seem within flight.
Looking forward to an interesting week ahead...