Setting Stage For Thursday: Nifty’s Outlook, Weekly Expiry, Fed Outcome & More

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Setting Stage For Thursday: Nifty’s Outlook, Weekly Expiry, Fed Outcome & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The US Federal Reserve will release its two-day monetary policy meet outcome at 11:30 pm Indian time on Wednesday and markets globally will react to it and cues on the length and size of further policy tightening to tame the soaring inflationary pressures.

The domestic market will take signals from the Fed’s outcome in early trades on Thursday, while the scheduled weekly expiry will add volatility to the session.

Ajit Mishra of Religare Broking sees the 17,400-17,500 range to act as a cushion in Nifty 50 , while the 17,900-18,000 range could lead to selling pressure.

Markets await the Fed Chair Jerome Powell’s news conference at 2:30 pm EDT to elaborate on the latest policy decision, updated economic projections from policymakers, which would signal the tone and size of future interest rate hikes, inflation projection and the likeliness of further pain inflicted on the U.S. economy.

Major indices on Wall Street opened higher on Wednesday ahead of the Fed’s likely 75 bps rate hike, with the Nasdaq Composite trading 0.5% higher, S&P 500 up 0.57% and Dow Jones gaining 0.47% at the time of writing.

The US 2-year Treasury yields hit a record 4% for the first time since 2007 on Wednesday, while oil tanked ahead of the Fed’s policy outcome.

Brent crude Futures slid past 1% to $89.7/barrel and WTI Futures plunged 1.15% to $83/barrel.

Read Also: Fed’s Policy Outcome & Powell’s News Conference: Key Timings & What to Expect?

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  • Abhishek Makadiya @Abhishek Makadiya
    .75 bps is fixed ..we have to see if 100bps is done than blood bath in markets..and if 75bps is done than markets likely to shoot upto 1%-1.5%
    Like 5
    • Abhishek Jain @Abhishek Jain
      down side or up side
      Like 0
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  • Chandrasekhar Joshi @Chandrasekhar Joshi
    .50 bps cut likely to come
    Like 1
    • Amit Boss @Amit Boss
      Seems you r carrying CALL option. 0.75 is factores in if 1.0 will com then some knee jerk will be seen. Otherwise, all negatives factored in. Time to Bounce for US market.
      Like 3
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  • Chandrasekhar Joshi @Chandrasekhar Joshi
    .50 cut
    Like 1
  • S S Sss @S S Sss
    let's see
    Like 0

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