Globally market has factored in 75-bps rate hike by US Fed and expected to end 2022 around 4.25%, any hawkish commentary than this could be disappointing.
VIX @ 19.94: closed just short of 20, traded most the day above 20.
Approach on Indices: Nifty @ 17518 & Banknifty @ 40354 remains key & strong support ahead of event. If US Fed event turns out to be market positive, Indices are set for healthy rally post US Fed meeting.
Market View: Mid-cap & Small-cap will continue to provide opportunity on going long, US Fed meeting outcome remains key overhang in near term.
SGX Nifty @ 17780 up 156 points at 8:05 AM
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