US Fed hikes rate by 75-bps, more hawkish than expected. US Fed ‘s focus remain on long term inflation target @ 2%, preparing market for some pain as soft landing could not be possible.
US Fed revised growth forecast downward, median rate by 2023 @ 4.6% and for 2024 @ 3.9%. Any rate cut in 2023 ruled out.
VIX @ 19.32: Will be watching closely today, move above 20 need to turn cautious going into final F&O expiry for September series.
Approach on Indices: Market will be reacting to US Fed decision and indicate weak opening. Nifty @ 17518 & Banknifty @ 40354 will be level to review to add fresh long.
SGX Nifty @ 15750 down 146 points at 7:55 AM
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