Hello,
Nifty yesterday again failed to cross the 5500 mark as US futures awaiting the FOMC meet results remained weak and with other Asian markets too remaining weak, Nifty slided down and closed the day with a loss of around 25 points. One of the saving grace for the markets was Tata Motors which came out with strong numbers.
At the end of a one-day meeting of the Federal Open Market Committee, the Fed's top policymakers released a statement saying that new information "indicates that the pace of recovery in output and employment has slowed in recent months." This has smoothened the nerves of the market for the time being though its still very early to say if the market is satisfied with the conclusions drawn.
While Volatility is still way down, market is becoming slightly choppy at these levels. Longs are better initiated once Nifty crosses the 5500 level.
Regards
Prashanth
Mythri Stocks & Shares Pvt Ltd.,
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