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Below perspective on markets by Mr. Jaykrishna Gandhi, Head - Business Development, Institutional Equities, Emkay Global Financial Services

“Markets were very volatile during the week ending with a 0.4%. Geopolitical concerns, largely unexciting earnings and awaiting FOMC tonight in US keep the markets in a fairly volatile state. US markets have seen some gains in the past few days going into FOMC while China continues to be topsy turvy as industrial production once again suffered which drove markets down. Lack of a material stimulus by the Chinese government continues to weigh on the markets there. Indian markets tested the lows of 18800 but bounced back and now seem to have averted making new recent lows in the current expiry. Tonight’s FOMC will be a key trigger for markets for the rest of the week as that will put to rest the discussion of further rate hikes and also potentially give some insight into inflation as well the path for rate cuts.

Technical set up – Near term supports seem to be places at 18850-19000 and on the upside resistance places at 19200-19250.”

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