The NIFTY will open flat, and the Fed will soon make a decision about interest rates

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Yesterday’s Updates

Yesterday, NIFTY opened with a 100-point jump at 22,446. The market quickly lost this gap-up as it went down. A new low for the week was set around 11 a.m., and the market crashed. At the end of the day, NIFTY was down 338 points, or 1.51%, at 21,997.

The U.S. markets ended flat. The European markets ended with a small gain.

Today’s Expectations

The Asian markets are experiencing a combination of trading outcomes.

The U.S. futures are showing a small increase.

The current trading price of GIFT NIFTY is 22,079, showing no significant movement.

Based on the various factors, it appears that the market will open without much change.

The NIFTY has several support levels at different price points. There are potential resistances at 22,090, 22,200, and 22,300.

There are support levels for BANKNIFTY at 46,700, 46,470, and 46,240. There are potential resistances at 46,980, 47,200, and 47,420.

There appears to be significant call open Interest resistance at the 22,000 level in NIFTY. There is a significant level of put open interest support at 22,000. The PCR ratio stands at 0.49, indicating a bearish sentiment.

Foreign Institutional Investors offloaded shares worth Rs -4,595 crores. Domestic Institutional Investors purchased shares worth Rs 9,093 crores.

The India VIX experienced a significant increase, reaching a level of 14.43.

The market’s March Madness persists. The NIFTY experienced a significant intraday decline of over 500 points yesterday.

Yesterday’s selling could potentially be just a preview. We are currently witnessing a correction after reaching the 22,500 levels, as anticipated.

Today marks the second NIFTY expiry in the March series. This week, there were significant and distinct movements observed on FINNIFTY and BANKNIFTY expiries.

The decline in smallcaps can be attributed to the recent regulatory changes affecting mutual funds. The smallcap index experienced a significant decline of 5% yesterday. Make sure to keep up with the marketfeed YouTube channel for more information today.

There is an important event on the horizon – the Federal Open Market Committee (FOMC) meeting scheduled for March 19 and 20. This is the place where decisions regarding interest rates in the U.S. will be made. Given the recent rise in U.S. inflation data, it is possible that the comments made during the meeting will be quite critical.

Unfortunately, our market has been severely impacted. The U.S. markets continue to trade at record levels.

 

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