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Quote On Morning Market 17 February 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

There is a clear pattern to the trends from the mother market, US. Whenever positive news like declining inflation comes, equity markets rise on hopes of a Fed pause and a possible rate cut by end 2023. Conversely, whenever data indicates a robust U.S. economy, tight labour market and very slow disinflation, equity markets fall expecting the Fed to remain hawkish. This see-saw game is likely to continue till clarity emerges on where the economy is headed. Nifty is likely to remain in the range 17800- 18200. As of now, there are no triggers to break this range in both directions. FIIs have sold in the cash market yesterday (excluding the Rs 2300 crore Indigo deal) for Rs 730 crores indicating that they will continue to sell at higher levels. The only sensible strategy in this volatility is to buy high quality names across sectors during declines.

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