SENSEX AND NIFTY CLOSING UPDATES

Indian market ended on a positive note amid volatility on May 22 with Nifty around 22,600. At 15:31 hrs IST, The Sensex was up 267.75 points or 0.36 percent at 74,221.06, and the Nifty was up 68.80 points or 0.31 percent at 22,597.80.

Nifty continues to rise and finds support at 22500. The index has moved up along an ascending channel. The trend is likely to remain strong as long as it remains above 22500. Higher, the index may move towards 22800 soon with immediate support at 22600. A drop below 22600 could momentarily push the index towards 22500.

The market remained volatile for another session but ended modestly higher. All key sectors are contributing to the index's recovery, but the underperformance of the banking sector is limiting the momentum. Against the backdrop of market volatility, we expect the Nifty index to test its record highs soon. However, we recommend stock by stock, using dips or consolidation periods to pick up quality stocks..