Today, there is no solution to the lack of clear direction in the market. The fact is we will remain at the mercy of global cues and foreign money. Any domestic booster is usually intra-day in nature. Don’t press the panic button in case of any fresh bad news. Stay alert and stick to a stock centric approach. This week’s trend will hinge on what the Fed says at the end of its policy meeting on Wednesday. Till then, we expect the key indices to remain sideways. The Nifty will continue to trade in a 5000-5200 range.
There will surely be few more speed bumps ahead in some form or the other. The recovery in several parts of the world will be a ‘stop-and-go’ affair. It is taking different shapes across the globe. The crucial event to watch will be the Fed’s ‘exit’ strategy. This will then decide the fate of the dollar, whose weakness has been driving up the risk appetite.
