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Market volatility in May tied to Lok Sabha elections, is influencing Nifty 50 and Sensex performance. Exit polls and final results will shape market trends.
As long as the Nifty 50 trades below 23,000, consolidation is expected, with support likely at the 22,575-22,600 zone.
Given the volatility, which hit a fresh two-year high at around 24 ahead of the mega event - Lok Sabha election results, the Nifty 50 index is likely to consolidate further with immediate support at 22,800 and then 22,600, whereas 23,000 is expected to be the hurdle on the higher side.
Given that the VIX is above 21 and the Put-Call Ratio (PCR) for NIFTY is over 1.35, it is advisable for traders to start booking profits and avoid this final segment of the election rally.
New York City, NY, May 26, 2024 (GLOBE NEWSWIRE) -- Bitcoin (BTC) has fallen below $68,000, trading at $67,183 with a 3% decrease in the last 24 hours,...