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Time: 8 am
Pre Market Report:
- US markets closed almost flat ahead of Fed decision.
- Most Asian markets are trading with positive bias.
- SGX Nifty is trading about 20 points higher than the yesterday's close of 6153 here.
- But for the last many days SGX Nifty levels are proving wrong.
- Markets will take direction only after RBI announcement.
- In addition to RBI policy and Fed announcement, strain in Indo US relations due to Indian Diplomat's arrest in US will start worrying investors.
- Crude oil and Gold are trading flat waiting for Fed cues.
- Bank Nifty will swing about 400 points on either side.
- Banking stocks will be very volatile.
- So just for today, traders should be away.
- As we reported yesterday, we are not giving any recommendation today.
- Volatility is shooting up in the near term and it is falling in the longer term, so it is not advisable to take position even in the long term.
- We will study the RBI move and Fed Tapering news and then we will take our call tomorrow.
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