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Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.

Markets remained volatile for another session, ending flat in line with global trends ahead of the US Fed meeting. After a steady start, sentiment was positive in the first half, despite a mixed performance from heavyweights. However, the index gave up all its gains with a sharp decline as the day progressed, closing at 25,377.55. Most sectors were under pressure, but strength in banking and financial majors helped limit the downside. The broader indices also slipped, losing between 0.5% and 0.8%.

With all eyes on the US Fed, markets will react to the FOMC meeting outcome and commentary in early trades. On the index front, Nifty is expected to defend the 25,100-25,200 zone during any dips, while 25,550 remains a key resistance level. Despite a generally positive tone, traders are advised to hold off on initiating new positions until the markets stabilize.

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