“ONG>Stock Market Live Update: The way the market experienced a decline last Monday, many wouldn’t have thought that Nifty would be above 22,000 on Friday. But it is now.”

“It is only 80 points away from its previous high of 22,126. We will keep an eye on those levels. The last instance of Nifty closing above 22,000 was on January 16. Besides the improvement in the last four sessions, here’s another positive aspect about the market.”

In the past month and most of the subsequent months, the index has been creating highs but has struggled to sustain at those levels. However, last week was a bit different. Excluding Monday, in the last four days, the index reached its highest level in a single day and closed only 30-40 points behind those levels. It remains to be seen how the market reacts to the U.S. inflation report and other stock-specific developments, especially in PSU stocks.