The way we have ended yesterday, one would easily be expecting the weakness to continue in the Dalal Street. But, now a days, global markets are determining how we open each day. Looking at this, we can expect a +ve, modest opening and from there on lackluster trading activity. Since Fed Meeting to decide on US rates gets over tonight, we may not act quickly towards bullish or bearish until that is put to rest.
FIIs have been buyers of ~145 Cr in cash market yesterday and ~550 Cr in F&O.
Sensex is likely to open around 12750 and may try to cross 12820-12835 region. On failure to do so, it is likely to go back to test at the maximum 12550 as per my view. Nifty futures might oscillate between 3660 to 3715. Avoid any big ticket new position creation in the market until tomorrow. Rollovers are also adding some volatility to the market.
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